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Cardboard R Us manufactures cardboard boxes for wholesale distributors using recycled paper. show the inventory valuation for Invetory and Cost of Goods Sold, using the
Cardboard R Us manufactures cardboard boxes for wholesale distributors using recycled paper. show the inventory valuation for Invetory and Cost of Goods Sold, using the following: Extended Total Date Description Jun-01 Beginning Inventory Jun-08 Purchase Jun-14 Purchase Jun-21 Purchase Jun-30 Purchase Pounds Cost/Pound 22,290 $ 1.65 103,950 $ 1.63 176,500 $ 1.59 142,305 $ 1.60 158,140 $ 1.57 A Physical inventory reveals that there are 242,850 pounds of Raw Material in the warehouse. Note: Round to 2 decimal places. Required: LIFO, FIFO and Weighted Average calculations. Please show FIFO calculations for Inventory and Cost of Goods sold ending balances
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