Question

Hahn Hardware provides the following information relating to its June inventory activity. Hahn uses a perpetual inventory system.
Required
a. Put Hahn's given information into a cost of goods sold model. What is unknown?
b. Compute the ending inventory and cost of goods sold using the FIFO, LIFO, and moving average costing methods. Round dollar amounts to the nearest penny.
c. Calculate the sum of the ending inventory and cost of goods sold for each method. What do you notice about the answer for each method?


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  • CreatedJuly 16, 2015
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