Question
Company Xmarkets CDs of numerous performing artists. At the beginning of March,Sheffieldhad in beginning inventory2,500CDs with a unit cost of $8. During March,Sheffieldmade the following
Company Xmarkets CDs of numerous performing artists. At the beginning of March,Sheffieldhad in beginning inventory2,500CDs with a unit cost of $8. During March,Sheffieldmade the following purchases of CDs
March 5: 1900 @ $9
March 13: 3500 @ $10
March 21: 5200 @ $11
March 26: 1900 @ $12
During March11,500units were sold.Company Xuses a periodic inventory system
What would be the FiFO, LIFO, and average cost for the ending inventory?
What would be the FiFO, LIFO, and average cost For cost of goods sold?
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Managerial Accounting
Authors: Ray Garrison, Theresa Libby, Alan Webb
10th Canadian edition
978-1259024900
