FIFO, LIFO and weighted average Computadoras del Futuro made several purchases and sales in April. He...
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FIFO, LIFO and weighted average Computadoras del Futuro made several purchases and sales in April. He had operating expenses of $ 1,800. Prepare three income statements: one using the FIFO method, another LIFO, and the other using the weighted average. Calculate the cost of goods sold using the periodic inventory model Date Detail Quantity (unit cost) April 1 Initial inventory 6 $72 Sale 4 Purchase 11 84 13 Sale 15 Sale 3 19 Purchase 109 21 Sale 22 Sale 2 27 Purchase 10 90 20 5. 00 30 00 FIFO, LIFO and weighted average Computadoras del Futuro made several purchases and sales in April. He had operating expenses of $ 1,800. Prepare three income statements: one using the FIFO method, another LIFO, and the other using the weighted average. Calculate the cost of goods sold using the periodic inventory model Date Detail Quantity (unit cost) April 1 Initial inventory 6 $72 Sale 4 Purchase 11 84 13 Sale 15 Sale 3 19 Purchase 109 21 Sale 22 Sale 2 27 Purchase 10 90 20 5. 00 30 00
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Answer rating: 100% (QA)
1 Income Statements for FIFO LIFO and Weighted average method It is given that each unit is sold at 1000 per unit Tota Sales Units sold during the period x Selling price per unit 28 units x 1000 per u... View the full answer
Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
Posted Date:
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