Question

Hahn Hardware provides the following information relating to its June inventory. Hahn uses a periodic inventory system and sold 49 units during the month.
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 weighted average costing methods.
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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