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Assume your organization has the following inventory changes during the year. Beginning Inventory: 15 units valued at $10,000 each February purchases: 13 units at $11,500
Assume your organization has the following inventory changes during the year. Beginning Inventory: 15 units valued at $10,000 each February purchases: 13 units at $11,500 each June purchases: 20 units at $12,000 each Total units used: 42 Calculate the value of the ending inventory and the value of the inventory used (the inventory expense) for the year, using both the FIFO and the LIFO method of cost-flow.
Beginning Inventory: 15 units valued at $10,000 each
February purchases: 13 units at $11,500 each
June purchases: 20 units at $12,000 each
Total units used: 42
Calculate the value of the ending inventory and the value of the inventory used (the inventory expense) for the year, using both the FIFO and the LIFO method of cost-flow.
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Cost Management Measuring Monitoring And Motivating Performance
Authors: Leslie G. Eldenburg, Susan K. Wolcott
2nd Edition
978-0-470-7694, 0470769424, 978-0470769423
