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Can you tell me where did 150 come from This is LIFO method COST OF GOODs AvAILABLE FOR SALE Total Cost Explanation Date Unit Cost
Can you tell me where did 150 come from This is LIFO method COST OF GOODs AvAILABLE FOR SALE Total Cost Explanation Date Unit Cost Units. Beginning inventory 1,000 $10 100 Jan. Purchase 2,200 Apr. 15 3,600 Aug. 24 Purchase 12 300 Purchase 5,200 Nov 27 400 13 $12,000 Total 1,000 STEP 2: COST OF GOODS SOLD STEP 1: ENDING INVENTORY Unit Total Units Cost Cost Date $10 1,000 Cost of goods available for sale $12,000 100 Jan. 1 5,000 2,200 Less: Ending inventory 11 Apr 15 12 1,800 cost of goods sold 7,000 Aug. 24 150 $5,000 450 Total $1,000 $5,000 $2,200 Cost of Ending inventory $1,800 goods sold $1,800 $7,000 $5,200
This is LIFO method
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