Question
Based on the following information, calculate the cost of goods sold and ending inventory using FIFO, LIFO, and weighted average assuming a perpetual inventory system
Based on the following information, calculate the cost of goods sold and ending inventory using FIFO, LIFO, and weighted average assuming a perpetual inventory system is in place. Beginning Balance - 30 units at $5
March 5 - Purchase 20 units for $6
April 6 - Sell 35 units for $38
June 30 - Purchase 25 units for $7
August 16 - Sell 30 units for $40
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Interpreting And Analyzing Financial Statements
Authors: Karen P. Schoenebeck
3rd Edition
0130082163, 9780130082169
