Question
FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 21,000 units
FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year:
Beginning inventory 21,000 units @ $41 Sale 19,909 units @ $59 First purchase 31,000 units @ $44 Sale 29,117 units @ $59 Second purchase 30,000 units @ $47 Sale 9,987 units @ $59
The firm uses the perpetual inventory system, and there are 22,987 units of the item on hand at the end of the year.
a. What is the total cost of the ending inventory according to FIFO?
b. What is the total cost of the ending inventory according to LIFO?
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Nmap 6 Network Exploration And Security Auditing Cookbook
Authors: Calderon Pale Paulino
1st Edition
1849517487, 978-1849517485
