Warner International, Inc. has the following inventory at hand, in order of acquisition in August 2016:

Warner International, Inc. sold 2,400 units during the month of August Is required:Calculate the inventory as of August 31, 2016. Indicate how much is in units and dollars. Also calculate the Cost of Goods Sold using the following inventory methods:1. FIFO2. LIFO

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Date August 01, 2016 August 03, 2016 August 07, 2016 August 10, 2016 August 12, 2016 Total Units 500 800 700 800 900 3700 Units cost $20 $24 $26 $28 $30 Total Cost $10,000 $19,200 $18,200 $22,400 $27,000 $96,800 Date August 01, 2016 August 03, 2016 August 07, 2016 August 10, 2016 August 12, 2016 Total Units 500 800 700 800 900 3700 Units cost $20 $24 $26 $28 $30 Total Cost $10,000 $19,200 $18,200 $22,400 $27,000 $96,800

Answer rating: 100% (QA)

Ending Inventory 1300 units 1 LIFO Ending Inventory 500 units 20 800 ... View the full answer