Question

Use the data for Bright Sales, Inc., in E6-12A to answer the following:
In E6-12A, Bright Sales, Inc.’s inventory records for a particular development program show the following at January 31:


Requirements
1. Compute cost of goods sold and ending inventory, using each of the following methods:
a. Specific unit cost, with three $155 units and six $165 units still on hand at the end b. Average cost
c. First-in, first-out
d. Last-in, first-out
2. Which method produces the highest cost of goods sold? Which method produces the lowest cost of goods sold? What causes the difference in cost of goodssold?


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  • CreatedJuly 25, 2014
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