Question
Given the following: January 1 inventory April 1 June 1 November 1 Cost of ending inventory Number purchased 31 51 41 46 169 Cost
Given the following: January 1 inventory April 1 June 1 November 1 Cost of ending inventory Number purchased 31 51 41 46 169 Cost of goods sold Cost per unit $ 4 7 819 9 Total $ 124 357 a. Calculate the cost of ending inventory using the LIFO (ending inventory shows 52 units). 328 414 $ 1,223 b. Calculate the cost of goods sold using the LIFO (ending inventory shows 52 units).
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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