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Please help with FIFO and LIFO answers and please show work. Thank you and help with the average cost top box. Thanks Problem 6-3A Grouper
Please help with FIFO and LIFO answers and please show work. Thank you
and help with the average cost top box. Thanks
Problem 6-3A Grouper Corp. had a beginning inventory of 104 units of Product RST at a cost of $7 per unit. During the year, purchases were: 364 $10 Feb. 20 May 5 595 480 units at units at $8 $9 Aug. 12 Dec. 8 units at units at 110 $11 Grouper Corp. uses a periodic inventory system. Sales totaled 1,370 units. Your answer is correct. (a) Determine the cost of goods available for sale. The cost of goods available for sale 14658 (b) Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost 8.868 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT VIDEO: SIMILAR PROBLEM Your answer is partially correct. Try again. Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-co FIFO LIFO AVERAGE-COST X The ending inventory $ x X 12149 The cost of goods sold $ SHOW LIST OF ACCOUNTS Step by Step Solution
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