Question
The last question I submitted from here the answer was wrong and it costed me to lose progress. My answers are below, can you check
The last question I submitted from here the answer was wrong and it costed me to lose progress. My answers are below, can you check it for me please.
Griffin Company had the following information for the year ending December 31:
Additional Resources
Units Unit Cost Beginning inventory
Purchase: April 6
Sale: May 4
Purchase: July 19
Sale: September 9
Purchase: October 10
Griffin uses the perpetual inventory system and the FIFO method.
Required:
Using FIFO
(a) Compute the cost of ending inventory.
(b) Compute the cost of goods sold for the year.
Cost of ending inventory: $24,100
Cost of goods sold : $29,120
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