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i have tried, i dont get it. some how in the tutorial video the beginning inventory gets cut in half. or im super wrong Cortez
i have tried, i dont get it. some how in the tutorial video the beginning inventory gets cut in half. or im super wrong
Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 170 units at $44 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 320-unit purchase at $49 per unit; the second was a 365-unit purchase at $51 per unit. During the period, it sold 550 chairs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses a. FIFO. b. LIFO c. Weighted average. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Cost of goods sold Ending inventory FIFO $23,160 $16.615 LIFO Weighted Average Check my work Step by Step Solution
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