Question: Not sure how to do number 14 based off the information for number 13. 13. Using the following information calculate the cost of Goods Sold
Not sure how to do number 14 based off the information for number 13.
13. Using the following information calculate the cost of Goods Sold (COGS) and Ending Inventory (EI) using the "FIFO Periodic/Perpetual" method. Beginning Inventory 2,400 units @ $29 each Jan 5th Sold 2,000 units Jan 10th Purchased 4,000 units @ $37 Jan 15th Sold 3,500 units Jan 20th Purchased 2,000 units @ $41 2000 g * 29 - 3500 g 834 68000 129500 184800 14. Using the facts from Problem #13, please calculate the COGS and El using the "LIFO Periodic" method
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
