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2 3 - XYZ company is a store selling mobiles, the company has the following data regarding it purchases and sales of mobiles February 1
XYZ company is a store selling mobiles, the company has the following data regarding it purchases and sales of mobiles
February : Purchased units at $ cash
March : Purchased units at $ cash
April : Purchased units at $ cash
Throughout the year, sold a total of units
According to the data above data:
Calculate the ending inventory and cost of goods sold COGS using FIFO FirstIn FirstOut and LIFO LastIn FirstOut
Give feedback on each method for calculating the ending inventory and cost of goods sold
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