Question: LIFO amounts BG Computer Supply (BGCS) has a BCS annual report had the following inventoretmber 31, 2012, BGCS had 300 units in inventory. The 201
BG Computer Supply (BGCS) has a BCS annual report had the following inventoretmber 31, 2012, BGCS had 300 units in inventory. The 201 Class Time: inventory o 31* fiscal year-end. The company tracks inventory on a Fl During 2013, BOCS had the folow lnvento Less: LIFO Reserve t FIFO 600 During 2013. BGCS had the following pure at LIF $ 18,000 Purchases Table Purchase 1 -2/1/13 Purchase 2-6/1113 Purchase 3-9/12/13 Purchase 4- 12/14/13 Units ValuetUnit 350 900 1,200 450 $110.00 $49,500 90.00 $100.00 $105.00 Total S31,500 $90,000 $126,000 A physical count on December 31,2013 indicated that BGCS had 500 units in ending inventory. Based on this information, caleulate the foliowing amounts for fiscal year 2013: FIFO Amounts Fiscal Year 2013 Sales (in units): 210 Goods Available for Sale (units): oo 321 0o Goods Available for Sale (S): suru FIFO Ending Inventory (S): FIPO Cost ofGoods Sold (s) 266) so LIFO Amounts Fiscal Year 2013 Sales (in units): Goods Available for Sale (S): Goods Available for Sale (units): LIFO Cost of Goods Sold (S: LIFO Ending Inventory (S): Inventory Profit at 12/31/13: LIFO Reserve at 12/31/13
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