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Using the following data Calculate the cost of Goods (COGS) and Ending Inventory Value using both FIFO and LIFO valuation methods. Answers should be in
Using the following data Calculate the cost of Goods (COGS) and Ending Inventory Value using both FIFO and LIFO valuation methods. Answers should be in dollars ), NOTunits. Finally, calculatethetotalsalesamount( ). 7/1 Beginning Inventory 10 units @ $91/ea 7/3 Purchase Inventory 15 units @ $106/ea 7/14 Sell Inventory 20 units @ $150/ea 7/17 Purchase Inventory 20 units @ $115/ea 7/28 Purchase Inventory 10 units @ $119/ea 7/31 Sell Inventory 23 units @ $150/ea FIFO: Cost of Goods Sold: FIFO: Ending Inventory Value: LIFO: Cost of Goods Sold: LIFO: Ending Inventory Value: Total Sales Revenue
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