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At the end of January 2014, the records of Donner Company showed the following for a particular item that sold at $17.40 per unit: Transactions
At the end of January 2014, the records of Donner Company showed the following for a particular item that sold at $17.40 per unit: Transactions Units Amount 620 $3,255 600 150 1,350 (480) (200) Inventory, January 1, 2014 Purchase, January 12 4,200 Purchase, January 26 Sale Sale value: 4.37 points Required 1a. Compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. (Round unit price to 2 decimal places. Input all amounts as positive values.) age Cost Cost of Good Available for Sale Cost of Goods Sold Cost of Goods Unit Available Sold for Sale Cost of Goods Sold # of Units | Cost per | # of Units Cost per Unit Beginning inventory Purchases January 12 January 26 Total FIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods Sold Cost per Unit | # of Units # of Units | Cost per Unit iSold Beginning inventory Purchases January 12 January 26 Total LIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods Sold Cost per Unit | # of Units Sold Cost per Unit # of Units | Beginning inventory January 12 January 26 Total
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