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That is all that is given Following is partial information for the income statement of Audio Solutions Company under three different inventory costing methods, assuming
That is all that is given
Following is partial information for the income statement of Audio Solutions Company under three different inventory costing methods, assuming the use of a periodic inventory system: Required 1. Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing methods. (Round intermediate calculations to 2 decimal places. Round your answers to the nearest whole dollar amount.) Average Cost FIFO LIFO Cost of goods sold Beginning inventory (380 units @ $25) $ 9,5009,500 $9,500 15,411 24,911 16,029 $7,064 9,9668,882 Purchases (467 unitsS33) Goods available for sale Ending inventory (545 units) 15,411 24,911 17,847 15,411 24,911 14,945 Cost of goods soldStep by Step Solution
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