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please find LIFO Required information [The following information applies to the questions displayed below.] A company began 2024 with 29,000 units of inventory on hand.
please find LIFO
Required information [The following information applies to the questions displayed below.] A company began 2024 with 29,000 units of inventory on hand. The cost of each unit was $4.00. During 2024, an additional 45,000 units were purchased at a single unit cost, and 39,000 units remained on hand at the end of 2024 (35,000 units therefore were sold during 2024). The company uses a periodic inventory system. Cost of goods sold for 2024, applying the average cost method, is $171,500. The company is interested in determining what cost of goods sold would have been if the FIFO or LIFO methods were used. Required: 2. Determine the cost of goods sold for 2024 using the LIFO method. Note: Do not round intermediate calculations. LIFO cost of goods sold
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