Question
If: Beginning Inventory - 11 units @ $8 May 1 Purchase - 13 units @ $6 May 4 Sale - 12 units May 5 Purchase
If:
Beginning Inventory - 11 units @ $8
May 1 Purchase - 13 units @ $6
May 4 Sale - 12 units
May 5 Purchase - 28 units @ $5
May 18 Sale - 30 units
Using this information find FIFO perpetual COGS and the LIFO perpetual COGS.
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Managerial Accounting
Authors: John J Wild, Ken W. Shaw, Barbara Chiappetta
7th edition
1260482936, 978-1260482935
