Question
January 1, 2018: Purchased 10 units at $6 January 15, 2018: Purchased 10 units at $9 Sold 14 units: What is the cost of goods
- January 1, 2018: Purchased 10 units at $6
January 15, 2018: Purchased 10 units at $9
Sold 14 units: What is the cost of goods sold under LIFO?
- $114
- $120
- $126
- $132
2.January 1, 2018: Purchased 10 units at $6
January 15, 2018: Purchased 10 units at $9
Sold 13 units: What is the cost of goods sold under FIFO?
- $81
- $87
- $93
- $99
3 January 1, 2018: Purchased 10 units at $6
January15, 2018: Purchased 10 units at $9
Sold 8 units: What is the cost of goods sold under average-cost?
- $50
- $55
- $60
- $65
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Fundamentals of Cost Accounting
Authors: William N. Lanen, Shannon Anderson, Michael W Maher
6th edition
1259969479, 1259565408, 978-1259969478
