Question
Daniel Company uses a periodic inventory system. Data for 2012: beginning merchandise inventory (December 31, 2011), 2,180 units at $35; purchases, 7,970 units at $37;
Daniel Company uses a periodic inventory system. Data for 2012: beginning merchandise inventory (December 31, 2011), 2,180 units at $35; purchases, 7,970 units at $37; expenses (excluding income taxes), $193,000; ending inventory per physical count at December 31, 2012, 1,780 units; sales, 8,370 units; sales price per unit, $75; and average income tax rate, 32 percent.
Can someone please show me how to calculate the Ending Inventory's FIFO and LIFO?
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Routledge Handbook Of Environmental Accounting
Authors: Jan Bebbington, Carlos Larrinaga, Brendan O'Dwyer, Ian Thomson
1st Edition
0367724901, 9780367724900
