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Exercise 6 - 5 ( Algo ) Calculate inventory amounts when costs are declining ( LO 6 - 3 ) Required: 1 - a &
Exercise Algo Calculate inventory amounts when costs are declining LO Required: a & b Using FIFO, calculate ending inventory and cost of goods sold. c & d Using FIFO, calculate sales revenue and gross profit. a & b Using LIFO, calculate ending inventory and cost of goods sold. c & d Using LIFO, calculate sales revenue and gross profit. a & b Using weightedaverage cost, calculate ending inventory and cost of goods sold. c & d Using weightedaverage cost, calculate sales revenue and gross profit. Determine which method will result in higher profitability when inventory costs are declining. Complete this question by entering your answers in the tabs below. Req a and Req and Req a and Req and Req a and Req and Req Using FIFO, calculate ending inventory and cost of goods sold.
Exercise Algo Calculate inventory amounts when costs are declining LO Required:
a & b Using FIFO, calculate ending inventory and cost of goods sold. c & d Using FIFO, calculate sales revenue and gross profit. a & b Using LIFO, calculate ending inventory and cost of goods sold.
c & d Using LIFO, calculate sales revenue and gross profit.
a & b Using weightedaverage cost, calculate ending inventory and cost of goods sold.
c & d Using weightedaverage cost, calculate sales revenue and gross profit.
Determine which method will result in higher profitability when inventory costs are declining.
Complete this question by entering your answers in the tabs below.
Req a and
Req and
Req a and
Req and
Req a and
Req and
Req
Using FIFO, calculate ending inventory and cost of goods sold.
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