Inventory data for Zambia Company are presented in E6-6. Instructions (a) Compute the cost of the ending
Question:
Inventory data for Zambia Company are presented in E6-6. Instructions
(a) Compute the cost of the ending inventory and the cost of goods sold using the average cost method.
(b) Will the results in
(a) be higher or lower than the results under (1) FIFO and (2) LIFO?
(c) Why is the average unit cost not $6?
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Related Book For 
Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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