Using the following information, determine the following: a. b. d. What is the Cost of Goods...
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Using the following information, determine the following: a. b. d. What is the Cost of Goods Sold (COGS) for the 2nd sale for FIFO & LIFO? What is the Gross Profit for the month for FIFO? What is the total COGS for the month for LIFO? What is the ending inventory, in units (list break down) and dollar amounts for FIFO & LIFO? Sales Price $ 20.00 unit 1-Jan 3-Jan Purchase 6-Jan Purchase Beginning Inventory 11-Jan Sale 13-Jan Purchase 15-Jan Purchase 18-Jan Sale 1,000 800 300 1,200 400 500 1100 units Unit Price $ 5.00 6.00 7.00 6.00 8.00 Using the following information, determine the following: a. b. d. What is the Cost of Goods Sold (COGS) for the 2nd sale for FIFO & LIFO? What is the Gross Profit for the month for FIFO? What is the total COGS for the month for LIFO? What is the ending inventory, in units (list break down) and dollar amounts for FIFO & LIFO? Sales Price $ 20.00 unit 1-Jan 3-Jan Purchase 6-Jan Purchase Beginning Inventory 11-Jan Sale 13-Jan Purchase 15-Jan Purchase 18-Jan Sale 1,000 800 300 1,200 400 500 1100 units Unit Price $ 5.00 6.00 7.00 6.00 8.00
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Related Book For
Corporate Financial Accounting
ISBN: 978-1285868783
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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