Question
The accounting records of Bryn Enterprises show the following data: Beginning Inventory - 1,000 pieces at $20/piece Purchases - 7,000 pieces at $25/piece Sales -
The accounting records of Bryn Enterprises show the following data:
Beginning Inventory - 1,000 pieces at $20/piece
Purchases - 7,000 pieces at $25/piece
Sales - 6,000 pieces at $45/piece
Determine the cost of goods sold during the period under a periodic inventory system using (a) the F I F O method, (b) the L I F O method, and (c) the average-cost method.
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Accounting An Introduction
Authors: Atrill Peter, Eddie McLaney
6th Edition
0273771833, 978-0273771838
