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solve Greehey Enterprises markets the CDs for the performing artist Cara Lotta. At the beginning of March. Groehey had beginning inventory of 1,500 Lotta CDs
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Greehey Enterprises markets the CDs for the performing artist Cara Lotta. At the beginning of March. Groehey had beginning inventory of 1,500 Lotta CDs with a unit cost of $7. During March, Greehey made the following purchases of Lotta CDS. During March, 12,500 units were sold. Greehey uses a perpetual inventory system Prepare answers on an Excol spreadsheet using the following templates. Label with letter in parenthesis. Instructions: (a) Determine the cost of goods available for sale. (b) Determine the ending inventory under FIFO. (c) Determine the CoGS under FIFO. FIFO (d) Prove the accuracy of the cost of goods sold under FIFO. Proof of Cost of Goods Sold (e) Determine the ending inventory under L.IFO. (n) Determine the cocs under L.TF. LIFO Cost of Goeds Sald (g) Prove the accuracy of the cost of goods sold under LIFO. (h) Determine the ending inventory under welghted average Step by Step Solution
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