Question
1.)The following information pertains to Julia & Company: March 1 Beginning inventory = 30 units @ $5 March 3 Purchased 15 units @ $4 March
1.)The following information pertains to Julia & Company:
March 1 Beginning inventory = 30 units @ $5
March 3 Purchased 15 units @ $4
March 9 Sold 25 units @ $8
What is the cost of goods sold for Julia & Company assuming it uses FIFO?
2.) The following information pertains to Julia & Company:
March 1 Beginning inventory = 30 units @ $5
March 3 Purchased 15 units @ $4
March 9 Sold 25 units @ $8
What is the cost of goods sold for Julia & Company assuming it uses LIFO?
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Managerial Accounting
Authors: Ronald W Hilton
8th Edition
0073526924, 9780073526928
