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Question 45 (2.5385 points) Using the following information calculate the cost of goods sold expense that would be reported at the end of the year
Question 45 (2.5385 points) Using the following information calculate the cost of goods sold expense that would be reported at the end of the year if the FIFO inventory valuation methods is used: Units Purchase Price Beginning inventory 8 $8 Purchase #1 15 $9 Purchase #2 24 S11 Purchase #3 12 Sales S13 40 Record your number as a dollar amount rounded to 0 decimal places, but do not include a dollar sign or any commas in your answer. For example, enter $32,903.82185 as 32904. If your answer is a negative amount, place a hyphen (-) before the number with no space between the hyphen and the number. For example, enter negative $39,253 as-39253 Your Answer: Page 46 of 9 Question 46 (2.5385 points) Using the following information calculate the cost of goods sold expense that would be reported at the end of the year if the LIFO inventory valuation methods is used: Units Purchase Price Beginning inventory 8 $8 Purchase #1 15 S9 Purchase #2 24 SI1 Purchase #3 12 Sales S13 40 Record your number as a dollar amount rounded to 0 decimal places, but do not include a dollar sign or any commas in your answer. For example, enter $32,903.82185 as 32904. If your answer is a negative amount, place a hyphen (-) before the number with no space between the hyphen and the number. For example, enter negative $39,253 as-39253. Your Answer: Answer Previous Page Next Page Page 50 of 50 Question 50 (2.538 points) Phillips owns 20 % of Mintor, Inc. (a private company). In 2019, Mintor had sales of $22,000,000, had net income of $82,000 and Mintor paid $32,000 in dividends. If Phillips uses the Equity Income method, what did Phillips record as Equity Income on its 2019 income statement? Round your answer to the nearest dollar and record your answer without a dollar sign and without any commas. Thus, record $32,372.8782 as 32373. Your
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