Question
Freshclick Company has provided the following data for the month of March 2021: Units Amount Beginning inventory 3,000 $30,000 Purchase made on 3/15 12,000 144,000
Freshclick Company has provided the following data for the month of March 2021:
|
| Units | Amount |
| Beginning inventory | 3,000 | $30,000 |
| Purchase made on 3/15 | 12,000 | 144,000 |
| Sales | 14,000 | 280,000 |
Required:
Calculate cost of goods sold and gross profit using LIFO and average-costing method.
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Managerial Accounting
Authors: Ray H. Garrison, Alan Webb, Theresa Libby
12th Canadian Edition
1260193276, 978-1260193275
