Date Purchases Unit Quantity Cost 6) Below is an inventory record, to be used for questions...

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Date Purchases Unit Quantity Cost 6) Below is an inventory record, to be used for questions #6-#8: Cost of Goods Sold Unit Total Total Inventory on Hand Unit Total Cost Quantity Cost Cost Sept. 1 12 units Quantity Cost x $50 Cost $ 600 Sept. 16 Sept. 30 40 units x $55 $ 2,200 36 units Question - What is the cost of goods sold under the FIFO method? 7) What is the cost of goods sold under the LIFO method? 8) What is the cost of goods sold under the weighted-average method? Date Purchases Unit Quantity Cost 6) Below is an inventory record, to be used for questions #6-#8: Cost of Goods Sold Unit Total Total Inventory on Hand Unit Total Cost Quantity Cost Cost Sept. 1 12 units Quantity Cost x $50 Cost $ 600 Sept. 16 Sept. 30 40 units x $55 $ 2,200 36 units Question - What is the cost of goods sold under the FIFO method? 7) What is the cost of goods sold under the LIFO method? 8) What is the cost of goods sold under the weighted-average method?

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Lets calculate the cost of goods sold COGS under the FIFO LIFO and weightedaverage methods using the ... View the full answer