Question
Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of goods sold for the month of November of
Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of goods sold for the month of November of Beamer Company using the data below.
Nov 1 Purchased 600 units $80 each
Nov 4 Sold 200 units
Nov 11 Purchased 350 units $82 each
Nov 12 Sold 275 units
Nov 22 Purchased 175 units $84 each
Nov 23 Sold 155 units
Calculate the following:
1. Inventory valuation at the end of November
Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of goods sold for the month of November of Beamer Company using the data below. Nov 1 Purchased 600 units $80 each Nov 4 Sold 200 units Nov 11 Purchased 350 units $82 each Nov 12 Sold 275 units Nov 22 Purchased 175 units $84 each Nov 23 Sold 155 units Calculate the following: 1. Inventory valuation at the end of November Step by Step Solution
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Understanding Financial Accounting
Authors: Christopher D. Burnley
2nd Canadian Edition
1119406927, 978-1119406921
