Question

The accounting records of Americo Electronics show the following data.
Beginning inventory 3,000 units at ....... $5
Purchases 8,000 units at .......... $7
Sales 9,400 units at .............. $10
Determine cost of goods sold during the period under a periodic inventory system using (a) The FIFO method,
(b) The LIFO method,
(c) The average-cost method. (Round unit cost to nearest tenth of a cent.)



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  • CreatedMarch 02, 2015
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