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If 200 units were sold during the month 1. Find Ending Inventory amount with LIFO method 2. Find Average Unit

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If 200 units were sold during the month

1. Find Ending Inventory amount with LIFO method

2. Find Average Unit Cost

3. Find Cost of goods sold with average method

 

Transcribed Image Text:

Date Units 6/1 Beginning Inventory 80 Units 6/12 Purchase 70 Units 6/17 Purchase 85 Units 6/23 Purchase 62 Units Unit Cost $11 $12 $13 $14

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To calculate the Ending Inventory amount using the LIFO Last In First Out method the Average Unit Co View the full answer


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Related Book For  answer-question
Intermediate Accounting Reporting and Analysis

Intermediate Accounting Reporting and Analysis

ISBN: 978-1285453828

2nd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Posted Date: September 01, 2023 23:52:35
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