Inventory Costing: LIFO Filimonov Inc. has the following information related to purchases and sales of one...
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Inventory Costing: LIFO Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Date Description Units Purchased at Cost Units Sold at Retail June 1 Beginning inventory 170 units @ $10 = $1,700 %3D 9. Purchase 1 210 units @ $14 = $2,940 %3D 14 Sale 1 270 units @ $25 22 Purchase 2 260 units @ $16 = $4,160 %3D 29 Sale 2 235 units @ $25 Refer to the information for Filimonov Inc. and assume that the company uses a perpetual inventory system. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. Cost of goods sold Cost of ending inventory Inventory Costing: LIFO Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Date Description Units Purchased at Cost Units Sold at Retail June 1 Beginning inventory 170 units @ $10 = $1,700 %3D 9. Purchase 1 210 units @ $14 = $2,940 %3D 14 Sale 1 270 units @ $25 22 Purchase 2 260 units @ $16 = $4,160 %3D 29 Sale 2 235 units @ $25 Refer to the information for Filimonov Inc. and assume that the company uses a perpetual inventory system. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet Required: Calculate the cost of goods sold and the cost of ending inventory using the LIFO inventory costing method. Cost of goods sold Cost of ending inventory
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Answer rating: 100% (QA)
fili monov Da ke Junel Bainin huuts 170X10170 210k142940 27x25 260 x 164e0 23... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
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