Question
The Thunderous Dragon Company uses a perpetual inventory system. The following data are available for its first month of operations. Date:DescriptionUnit Qty.Price Per Unit. May
The Thunderous Dragon Company uses a perpetual inventory system. The following data are available for its first month of operations.
Date:DescriptionUnit Qty.Price Per Unit.
May 2Purchased220 units$7
May 3Purchased 350 units$8
May 10Sold275 units$11
May 15Purchased 390 units$9
May 25Sold330 units$13
Calculate the Cost of Goods Sold (COGS) under (c.) LIFO,
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Construction accounting and financial management
Authors: Steven j. Peterson
2nd Edition
135017114, 978-0135017111
