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Please go through all 3 requirements, thanks! - X Data Table Requirements October 6 90 stoves @ $20 $ 1,800 October 18 100 stoves @
Please go through all 3 requirements, thanks!
- X Data Table Requirements October 6 90 stoves @ $20 $ 1,800 October 18 100 stoves @ $22 2,200 October 26 50 stoves @ $22 1.100 1. Determine the cost of goods sold and ending inventory amounts for October under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar 2. Explain why cost of goods sold is highest under LIFO. Be specific 3. Prepare the Fatigues Surplus income statement for October. Report gross profit. Operating expenses totaled $3,750. The company uses average costing for inventory. The income tax rate is 30%. Print Done Print Done Fatigues Surplus began October 2021 with 60 stoves that cost $10 each. During the month, the company made the following purchases at cost Click the icon to www the purchases) The company sold 248 stoves, and at October 31, the ending inventory consisted of 52 stoves. The sales price of each stove was $55. Read the regulirements Requirement 1. Determine the cost of goods sold and ending inventory amounts for October under the average-cost, FIFO, and LIFO costing methods Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar. Number of units Average cost Cost of goods sold Ending inventoryStep by Step Solution
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