My son Brendan is trying to raise money to purchase his accounting textbook - it's VERY expensive! He decides to sell pumpkins to earn some money. On Sunday he has 20 pumpkins that he purchased at a cost of $10 each. On Monday he purchases another 15 pumpkins at a cost of $12 each. On Tuesday he sells 17 pumpkins; assuming he is using LIFO, how much is his Cost of Goods Sold for the day? (Note: I have posted an inventory costing grid, similar to those used in the labs, in the optional worksheets for the midterm - you are welcome to use the grid to help calculate the answer.) $170 $180 $200 $204 Perpetual Inventory Costing - Pumpkin Stand Date Purchases Unit $ Cost of Goods Sold Qty Unit $ Tot $ Qty Tot $ Qty 20 Inventory Unit $ $10 Tot $ $200 Sunday Monday Tuesday Goodfellow's Flower Shoppe - straight line depreciation Asset Depreciable Cost Cost Depreciation Expense x Rate Accumulated Depreciation Book Value yr 1 yr 2 yr 3 yr 4 yr 5 Goodfellow's Flower Shoppe - units of production depreciation. Asset Depreciable Cost Miles Depreciation Expense Accumulated Depreciation Book x Rate Value yr 1 yr 2 yr 3 yr 4 yr 5 Goodfellow's Flower Shoppe - double declining balance depreciation Original Cost Book Value (beg) x DDB rate Depreciation Expense Accumulated Depreciation Book Value (end) yr 1 yr 2 yr 3 yr 4 yr 5