Singh Company sold 75 units @ $350 each on October 31, Year 2. The following information is
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Singh Company sold 75 units @ $350 each on October 31, Year 2. The following information is also available:
Beginning inventory | 25 units @ $175 |
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February 2 purchase | 20 units @ $180 |
June 15 purchase | 45 units @ $200 |
October 1 purchase | 30 units @ $220 |
Required: a) Determine the amount of cost of goods sold using: 1) FIFO 2) LIFO 3) Weighted Average
b) Determine the amount of ending inventory using: 1) FIFO 2) LIFO 3) Weighted Average
Related Book For
Accounting Introduction To Financial Accounting
ISBN: 9781517089719
1st Edition
Authors: Henry Dauderis, David Annand
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