A company with no inventory buys the following three inventory items: On January 10, the company sells
Question:
On January 10, the company sells one item for $10. On January 15, the company sells a second item $10. The company uses a perpetual inventory system.
Required
Calculate the company's cost of goods sold under the
a) FIFO
b) LIFO
c) Moving average inventory costing methods.
Transcribed Image Text:
Date January 7 January 9 January 12 Item Cost $6 S7 S8
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a FIFO 6 7 13 b LIFO 7 8 15 c Mo...View the full answer
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