Question: Beginning inventory 10 units sold @ $5 per unit= $50 First purchase 25 unites @ $6 per unit=$150 Second purchase 20 unites @ $7 per

Beginning inventory

10 units sold @ $5 per unit= $50

First purchase

25 unites @ $6 per unit=$150

Second purchase

20 unites @ $7 per unit=$140

30 units were sold for $20 each

Calculate the cost of goods sold using LIFP method of inventory costing.

A. 340 b. 200 c. 185.45 d. 170 e. 150

What is the value of the ending inventory using the LIFO method of inventory costing?

500 b. 340 c. 170 d. 154.55 e. 140

Calculate the Cost of Goods Sold using FIFO method of inventory costing

a. 340 b. 210 c. 200 d. 170 e. 150

What is the value of the ending inventory using the FIFO method of inventory costing?

a. 500 b. 340 c. 170 d. 154.55 e. 125

What is the value of the ending inventory using the average cost method of inventory costing?

a. 340 b. 170 c. 154.55 d. 150 e. 125

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