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Determine the cost of goods sold under average-cost. FIFO LIFO Cost of Goods Sold Cost of Goods Sold 783 1041 Periodic : FIFO cost of
Determine the cost of goods sold under average-cost.
FIFO LIFO Cost of Goods Sold Cost of Goods Sold 783 1041 Periodic : FIFO cost of Goods Available for sales Cost of Goods Sold Inventory Balance cost of Goods Available for #of Units Cost of # of Cost Per Ending # of Units Cost Per Unit sales sold Cost Per Unit Goods Sold Units Unit Inventory Beginning inventory 9 10.00 90 9 10.00 90 ol 10.00 0 Purchases May-05 29 17.00 493 29 17.00 493 0 17.00 0 Jul-16 19 20.00 380 10 20.00 200 9 20.00 180 Dec 07 24 24.00 576 0 24.00 0 24 24.00 576 Totals 81 1539 48 783 33 756 Periodic : LIFO cost of Goods Available for sales Cost of Goods Sold Inventory Balance cost of Goods Available for #of Units Cost of # of Cost Per Ending # of Units Cost Per Unit sales sold Cost Per Unit Goods Sold Units Unit Inventory Beginning inventory 9 10.00 90 0 10.00 0 9 10.00 90 Purchases May-05 29 17.00 493 SI 17.00 85 24 17.00 408 Jul-16 19 20.00 380 19 20.00 380 0 20.00 Dec-07 24 24.00 576 24 24.00 576 0 24.00 0 Totals 81 1539 48 1041 33 498 ColololStep by Step Solution
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