Question
Firm Ds 2020 financial statements reported the following information. 2020 2019 Revenues $2,453,062 $1,974,003 Cost of sales 1,517,780 1,534,844 Inventories, net 525,344 497,031 LIFO reserve
Firm Ds 2020 financial statements reported the following information.
|
| 2020 | 2019 |
| Revenues | $2,453,062 | $1,974,003 |
| Cost of sales | 1,517,780
| 1,534,844
|
| Inventories, net | 525,344 | 497,031 |
| LIFO reserve | 4,460 | 4,163 |
If Firm D had used the FIFO method of inventory costing, 2020 COGS would have been: (Round your answer to zero decimal places and omit the $ sign. For example, if your answer is $1,000.2, type in 1000)
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Fundamental Financial Accounting Concepts Paperback By Edmonds Thomas P O
Authors: Thomas P. Edmonds, Christopher Edmonds, Mark A. Edmonds, Jennifer Edmonds, Philip R. Olds
11th Edition
9781264266234, 1264266235
