Question: Sheffield Corp. uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date May 7 July 28 Number of Units 60 35
Sheffield Corp. uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date May 7 July 28 Number of Units 60 35 Unit Price $7 16 On June 1, Sheffield sold 30 units, and on August 27, 35 more units. Compute the cost of goods sold using (a) FIFO. (b) LIFO, and (c) average-cost. (Round average cost per unit to 3 decimal places, es 1.246.) Cost of Goods Sold FIFO $ LIFO Average-cost $
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