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using the LIFO assumption, how many units were sold during march? isnt the answer 51 becsuse of beginging inventory? why does everyone answer saying its
using the LIFO assumption, how many units were sold during march? isnt the answer 51 becsuse of beginging inventory? why does everyone answer saying its 47?
Lexcorp had the following activity during March 2020 Date Purchase Cost per Unit Sale Price per Unit 4 7.00 16 8.00 Activity Beginning Inventory Purchase Sale Purchase Sale Purchase Sale Units 3/1/2020 3/5/2020 3/8/2020 3/14/2020 3/19/2020 3/22/2020 3/27/20201 18.00 11 10.00 18.00 14 21 24 11.00 20.00 Answer the following questions using the information provided above. For your convience, questions 34 through 42 are presented below. The question to be answered on this screen has been underlined. 34. Using the FIFO Assumption, how many units were sold during March? 35. Using the FIFO Assumption, what was the total cost of Goods Sold during March? (hint Answer should be in dollars) 36. Using the FIFO Assumption, what was the Ending Inventory for March? Chint: Answer should be in dollars) 37. Using the LIFO Assumption how many units were sold during March? 38. Using the LIFO Assumption, what was the total cost of Goods Sold during March? (hint: Answer should be in dollars) 39. Using the LIFO Assumption, what was the Ending Inventory for March? (hint Answer should be in dollars) 10. Using the Weighted Average Assumption, how many units were sold during March? 11. Using the weighted Average Assumption, what was the total cost of Goods Sold during March? (hint Answer should be in dollars) 2. Using the Weighted Average Assumption, what was the Ending Inventory for March? (hint: Answer should be in dollars) Numeric Response 51 Step by Step Solution
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