Question
Raptor Candles has the following inventory schedule for its luxury line of candles Date quantity Unit Cost Sales Price Beginning Inventory: 3/1/2023 55 $30 Purchase:
Raptor Candles has the following inventory schedule for its luxury line of candles
Date quantity Unit Cost Sales Price
Beginning Inventory: 3/1/2023 55 $30
Purchase: 3/3/2023 40 $35
Sale: 3/10/2023 70 $85
Purchase: 3/15/2023 45 $40
Purchase: 3/20/2023 35 $45
Sale: 3/28/2023 70 $85
Assuming the Company uses First-in, First-out, what is Raptors cost of goods sold and ending inventory in dollar amounts for the month? Use the following numeric format 12345 (no commas, no dollar signs) Round to the nearest dollar.
Cost of goods Sold:
Ending Inventory:
Assuming the Company uses Last-in, Last-out, What is raptors cost of goods sold and ending inventory in dollar amounts for the month? Use the following numeric format 12345 (no commas, no dollar signs) Round to the nearest dollar.
Cost of goods sold:
Ending Inventory:
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