The Sanchez Computer Center had 300 pieces of merchandise inventory as of June 30, 201X. The inventory

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The Sanchez Computer Center had 300 pieces of merchandise inventory as of June 30, 201X. The inventory was purchased with prices as follows:

Lot numbers represent oldest to newest.
Assignment
Using the FIFO, LIFO, and weighted-average methods, calculate the dollar value of the Sanchez Computer Centerâ€™s endinginventory.

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College Accounting A Practical Approach

ISBN: 978-0133133233

12th edition

Authors: Jeffrey Slater

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Question Posted: Apr 24, 2014 10:14 AM

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The Sanchez Computer Center had 300 pieces of merchandise inventory as of June 30, 201X. The inventory

Question:

Lot First lot Second loft Third lot Fourth lot Fifth lot Price Each Piece $1.00 $1.75 $2.00 $2.50 S1.65 Number of Pieces 100 100 80 100 100 Total Cost $100 $175 $160 $250 $165

Step by Step Answer:

Units Cost FIFO 100 x 165 16500 100 x 250 25000 ...View the full answer

College Accounting A Practical Approach

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