In 2018, Caterpillar reports cost of goods sold of $36,997 and beginning and ending inventory balances of $10,018 and $11,529. The company's inventory footnote (next slide) provides additional information. Calculate the inventory and cost of goods sold for 2018 assuming that Caterpillar had accounted for all inventories by the FIFO method

Answer rating: 100% (QA)

To calculate the inventory and cost of goods sold COGS for 2018 using the FIFO FirstIn FirstOut meth... View the full answer