During 2021, a company sells 373 units of inventory for $88 each The company has the following inventory purchase transactions for 2021 Date Transaction number of units Unit Cost Total cost Jan 1 Initial inventory 66 ps 62 ps 4,092 May 5 Purchase 160 64 10,240 Nov 3 Purchase 183 67 12,261 409 ps 26...

The cost of goods sold COGS is the sum of all direct costs associa ...

During 2021, a company sells 373 units of inventory for $88 each. The company has the following

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During 2021, a company sells 373 units of inventory for $88 each. The company has the following inventory purchase transactions for 2021:

Date		Transaction	number of units		Unit Cost		Total cost
Jan	1	Initial inventory		66	ps	62		ps	4,092
May	5	Purchase		160		64			10,240
Nov.	3	Purchase		183		67			12,261
				409				ps	26,593

Calculate ending inventory and cost of goods sold for 2021, assuming the company uses LIFO.

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Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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Posted Date: May 18, 2023 03:31 AM

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During 2021, a company sells 373 units of inventory for $88 each. The company has the following

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Financial Accounting

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