Madison Outlet has the following inventory transactions for the year Date transaction number of units unit
Question:
Madison Outlet has the following inventory transactions for the year
Date transaction number of units unit cost total cost
Jan.1 Beginning inventory 10 $ 200 $ 2,000
Mar. 14 purchase 15 $300 $4,500
$6,500
Jan. 1-Dec. 31 Total sales to customers : 12
What amount would Madison report for cost of goods sold using FIFO?
What amount would Madison report for ending inventory using FIFO?
what amount would madison report for cost of goods sold using LIFO?
what amount would madsion report for ending inventory using weighted -average cost?
Financial Accounting
ISBN: 978-1259914898
5th edition
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann