Refer to Short Exercises S6-4 through S6-6. After completing those exercises, answer the following questions: Boston Cycles

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Refer to Short Exercises S6-4 through S6-6. After completing those exercises, answer the following questions:
Boston Cycles started October with 12 bicycles that cost $42 each. On October 16, Boston bought 40 bicycles at $68 each. On October 31, Boston sold 34 bicycles for $100 each.
Requirements
1. Which inventory costing method produced the lowest cost of goods sold?
2. Which inventory costing method produced the highest cost of goods sold?
3. If costs had been declining instead of rising, which inventory costing method would have produced the highest cost of goods sold?
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Horngrens Financial And Managerial Accounting The Financial Chapters

ISBN: 9780134486840

6th Edition

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

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