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How do I calculate ending inventory and cost of good sold using this infomation? And how does that look like for the FiFio method and
How do I calculate ending inventory and cost of good sold using this infomation? And how does that look like for the FiFio method and LIFO to
Units Cost per Unit $880 Total Cost $ 5,280 Date October 1 October 4 October 10 October 13 October 20 October 28 October 30 Transactions Beginning inventory Sale Purchase Sale Purchase Sale Purchase 890 4,450 900 00W 3,600 7,280 910 $20,610 Required: 1. Calculale ending inventory and cost of goods sold at October 31, using the specific Wentification method. The October 4 sale consists of purses from beginning inventory, the October 13 sale consists of one purse from beginning inventory and two purses from the October 10 purchase, and the October 28 se consists of three purses from the October 10 purchase and four purses from the October 20 purchase Ending inventory Cost of goods sold 2. Using FIFO, calculate ending inventory and cost of goods sold at October 31. Ending inventory Cost of goods sold 3. Using LIFO, calculate ending inventory and cost of goods sold at October 31 Ending inventory Cost of goods sold Step by Step Solution
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