From the purchase data of Sneakers below, find for each method given that the ending inventory...

 

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From the purchase data of Sneakers below, find for each method given that the ending inventory is 45 units. a) The cost of ending inventory (round the average unit cost to the nearest cent) b) The cost of goods sold. Units purchased Cost per unit Date January 1 April 1 July 1 20 40 50 $55 $60 $60 1) (10 points) Use weighted average method 2) (10 points) Use FIFO method 3) (10 points) Use LIFO method From the purchase data of Sneakers below, find for each method given that the ending inventory is 45 units. a) The cost of ending inventory (round the average unit cost to the nearest cent) b) The cost of goods sold. Units purchased Cost per unit Date January 1 April 1 July 1 20 40 50 $55 $60 $60 1) (10 points) Use weighted average method 2) (10 points) Use FIFO method 3) (10 points) Use LIFO method

Answer rating: 100% (QA)

Inventory Valuation Methods for Sneakers We will calculate the cost of ending inventory 45 units and ... View the full answer