The Following schedule was taken out of the inventory records for Hot Dog Company units purchased cost
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Question:
The Following schedule was taken out of the inventory records for Hot Dog Company
| units purchased | cost per unit | total cost of inventory | |||
| Beg Inv | 300 | $15 | $4,500 | ||
| Purchases | |||||
| 3-Feb | 400 | $17 | $6,800 | ||
| 15-Apr | 200 | $18 | $3,600 | ||
| 22-Aug | 500 | $19 | $9,500 | ||
| 30-Nov | 1000 | $22 | $22,000 | ||
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| sales for the year were 1800 units | |||||
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| Compute cost od sales using LIFO and FIFO:
Computation using LIFO
Computation using FIFO
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Expert Answer:
Posted Date:
