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Given the following information, calculate: the dollar cost of inventory purchases (A, B, C & D) the cost of goods sold (H, I & J)
Given the following information, calculate:
the dollar cost of inventory purchases (A, B, C & D)
the cost of goods sold (H, I & J) and the
cost of ending inventory (E, F, & G) using LIFO, FIFO and the weighted average methods.
Assume that 25 units are not sold and remain in inventory.
Inventory Purchases | Dates | Units | Unit Cost | DOLLAR COST |
---|---|---|---|---|
Beginning Inv. | Jan. 1 | 10 | $8.00 | A |
Purchase | April 10 | 30 | $10.00 | B |
Purchase | May 15 | 40 | $12.00 | C |
Purchase | Dec. 5 | 20 | $16.00 | D |
Inventory Valuation Methods: | LIFO | FIFO | Weighted Average |
---|---|---|---|
Cost of Ending Inventory | E | F | G |
Cost of Goods Sold | H | I | J |
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