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Omega Enterprises had beginning inventory of $800,000, ending inventory of $600,000, and purchases of $2,500,000 during the year. Calculate the cost of goods sold (COGS)
- Omega Enterprises had beginning inventory of $800,000, ending inventory of $600,000, and purchases of $2,500,000 during the year. Calculate the cost of goods sold (COGS) using the periodic inventory system and explain the impact of LIFO versus FIFO on the COGS if prices are rising.
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Accounting Texts and Cases
Authors: Robert Anthony, David Hawkins, Kenneth Merchant
13th edition
1259097129, 978-0073379593, 007337959X, 978-1259097126
