Question
The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported following information: 2015 Cost of sales: $1,529,527 Inventories: 546, 745 LIFO Reserve:
The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported following information:
2015
Cost of sales: $1,529,527
Inventories: 546, 745
LIFO Reserve: 4094
2016
Cost of sales: $1,517,397
Inventories: 585,764
LIFO Reserve: 4345
If Caleres had used FIFO method of inventory costing, 2016 COGS would have been?
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Principles of Financial Accounting chapters 1-17
Authors: John Wild, Ken Shaw, Barbara Chiappetta
23rd edition
1259687740, 1259687747, 978-1259687747
