Information concerning the inventory of Loop Co. follows. April 1 Beginning Inventory April 8 Purchases April...
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Information concerning the inventory of Loop Co. follows. April 1 Beginning Inventory April 8 Purchases April 18 Purchases April 31 Purchases Available for sale Units 75 100 150 80 405 Quality sold 360 units during the month of April. Cost per unit $90 $91 $88 $82 A. Please calculate the Cost of Goods Sold using the FIFO costing method. B. What is the ending inventory using FIFO. C. Please calculate the Cost of Goods Sold using the LIFO costing method. D. What is the ending inventory using LIFO. Information concerning the inventory of Loop Co. follows. April 1 Beginning Inventory April 8 Purchases April 18 Purchases April 31 Purchases Available for sale Units 75 100 150 80 405 Quality sold 360 units during the month of April. Cost per unit $90 $91 $88 $82 A. Please calculate the Cost of Goods Sold using the FIFO costing method. B. What is the ending inventory using FIFO. C. Please calculate the Cost of Goods Sold using the LIFO costing method. D. What is the ending inventory using LIFO.
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A To calculate the Cost of Goods Sold COGS using the FIFO FirstInFirstOut costing method we assume t... View the full answer
Related Book For
Financial and Managerial Accounting Using Excel for Success
ISBN: 978-1111993979
1st edition
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
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