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Can this be set up in an excel format with formulas I can use for other LIFO problems with the same format? Please show formulas!
Can this be set up in an excel format with formulas I can use for other LIFO problems with the same format?
Taylor Company had the following information for the year ending December 31: Units Unit Cost Beginning inventory 200 $45 Purchase: April 6 310 44 Sale: May 4 450 Purchase: July 19 530 42 Sale: September 9 440 Purchase October 10 380 32 Taylor uses the perpetual inventory system and the LIFO method. Required: Using LIFO (a) Compute the cost of ending inventory. (b) Compute the cost of goods sold for the year. Cost of ending inventory Cost of goods sold X 5 2 Please show formulas!
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