5. The Following schedule was taken out of the inventory records for Hot Dog Company Beg...

 

Transcribed Image Text:

5. The Following schedule was taken out of the inventory records for Hot Dog Company Beg Inv Purchases 3-Feb 15-Apr 22-Aug 30-Nov sales for the year were 1800 units units purchased 300 Computation using LIFO Compute cost od sales using LIFO and FIFO: Computation using FIFO 400 200 500 1000 cost per unit $15 $17 $18 $19 $22 total cost of inventory $4,500 $6,800 $3,600 $9,500 $22,000 5. The Following schedule was taken out of the inventory records for Hot Dog Company Beg Inv Purchases 3-Feb 15-Apr 22-Aug 30-Nov sales for the year were 1800 units units purchased 300 Computation using LIFO Compute cost od sales using LIFO and FIFO: Computation using FIFO 400 200 500 1000 cost per unit $15 $17 $18 $19 $22 total cost of inventory $4,500 $6,800 $3,600 $9,500 $22,000

Answer rating: 100% (QA)

Salutions Computation under LIFO Under life latest un... View the full answer