Question: please to answer these questions Exercise 5 - 1 4 ( Algo ) Periodic: Cost flow assumptions LO P 3 Lopez Company reported the following
please to answer these questions Exercise Algo Periodic: Cost flow assumptions LO P
Lopez Company reported the following currentyear data for its only product. The company uses a periodic inventory system, an
ending inventory consists of units from each of the last three purchases.
ad Determine the cost assigned to ending inventory and to cost of goods sold for the following.
e Which method yields the highest net income?
Answer is complete but not entirely correct.
Complete this question by entering your answers in the tabs below.
Req A to D
Determine the cost assigned to ending inventory and to cost of goods sold for the following.
Note: Do not round intermediate calculations and round your answers to decimal places. Exercise Algo Periodic: Inventory costing methodsFIFO and LIFO LO P
The company uses a periodic inventory system.
Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.
Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.
Comnute the aross nrofit for each method.Answer is complete but not entirely correct.
Complete this question by entering your answers in the tabs below.
Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.
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