Question

The accounting records of Tuel 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, and (c) the average-cost method. (Round unit cost to three decimal places.)



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  • CreatedApril 07, 2014
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