Hogans Department Store uses a perpetual inventory system. Data for product E2-D2 include the purchases shown on
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Hogan’s Department Store uses a perpetual inventory system. Data for product E2-D2 include the purchases shown on page 315.
Number Unit Date of Units Price May 7 50 $10 July 28 30 15 On June 1, Hogan sold 25 units, and on August 27, 30 more units. Compute the cost of goods sold using
(a) FIFO,
(b) LIFO, and
(c) average-cost. (Round the cost per unit to three decimal places.)AppendixLO1
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Accounting Tools For Business Decision Making
ISBN: 9781118771112
5th Edition
Authors: Kimmel, Wetlands, Kieso
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