Question
3. The following represents the inventory of Benita Company for the month of April: April 1 Beginning Inventory 100 units @ $16 April 2 Sales
3. The following represents the inventory of Benita Company for the month of April:
| April 1 | Beginning Inventory | 100 units @ $16 |
| April 2 | Sales | 50 units |
| April 3 | Purchases | 300 units @ $24 |
| April 10 | Sales | 250 units |
| April 21 | Purchases | 400 units @ $32 |
| April 28 | Sales | 200 units |
- Assuming a perpetual inventory system is used by Benita Company, what is ending inventory under LIFO?
- Assuming a perpetual inventory system is used by Benita Company, what is cost of goods sold under FIFO?
- Assuming a perpetual inventory system is used by Benita Company, what is ending inventory under the Weighted-Average Cost method?
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African Charter For Internal Audit Of Cooperative Governance
Authors: Donfack MEKONTCHOU ROCHE
1st Edition
6205541777, 978-6205541777
