Question
Beginning inventory and purchases are presented below: November 1 Beginning inventory ................................... 10 units at $61 November 6 purchase ...................................................... 40 units at $62 November
Beginning inventory and purchases are presented below:
November 1 Beginning inventory ................................... 10 units at $61
November 6 purchase ...................................................... 40 units at $62
November 14 purchase .................................................... 35 units at $65
November 24 purchase .................................................... 15 units at $63
Assuming the periodic inventory system, on November 30th there are 23 items left in inventory. Determine the Total Cost of the Merchandise Sold and the Total Cost of the Ending Inventory using a) FIFO b) LIFO c) Weighted Average
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DCAA Contract Audit Manual Volume 1
Authors: Defense Contract Audit Agency
1st Edition
B08HTL19V5, 979-8684992995
