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Griffin Company's inventory records for its retail division show the following at December 31: B (Click the icon to view the accounting records.) At December
Griffin Company's inventory records for its retail division show the following at December 31: B (Click the icon to view the accounting records.) At December 31, 11 of these units are on hand. Read the requirements. Requirement 1. Compute cost of goods sold and ending inventory, using each of the following four inventory methods: Begin by entering the number of units sold and number of units in ending inventory. Then calculate cost of goods sold and ending inventory using (a) specific identification, then (b) average cost, then (c) FIFO, and finally (d) LIFO. (Round the average cost per unit to the nearest cent. Round all final answers to the nearest whole dollar.) Number of units X Data Table Cost of goods sold Ending inventory Dec 1 Beginning inventory 9 units @ $ 165 = $ 1,485 15 Purchase 5 units @ 166 = $ 830 26 Purchase 13 units @ 175 = $ 2,275 Enter any number in the edit fields and then click Check Answer. ? Print Done 7 parts remaining Clear All Illai VUCUN
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