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3 part question. all pertaining to the information in question 8. Use the following information for questions 8-10: Thompson and Associates started the period with
3 part question. all pertaining to the information in question 8.
Use the following information for questions 8-10: Thompson and Associates started the period with 50 units in beginning inventory that cost $8.50 each. During the period, the company purchased inventory items as follows Purchase # 1 2 3 Number of Items 200 150 50 Unit Cost $ 9.00 $ 9.30 $10.50 Thompson sold 270 units after purchase #3 for $20.00 each. 8. Thompson's cost of goods sold under FIFO would be: O $2,451. O $2,550. O $2,411. O $2,295. Based on the information in Question 8, Thompson's ending inventory under LIFO would be: O $1,734 O $1.595. $1,269. O $1,890. Based on the information in Question 8, Thompson's gross margin under the LIFO method would be: $2.850. $2,565 $3,105 O $2.989
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