The following data was obtained from the inventory records of Zachary Company for the month of April:
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Question:
The following data was obtained from the inventory records of Zachary Company for the month of April:
April 1 Beginning inventory 2,000 units @ $ 2 each
April 8 Purchased 1,000 units @ $ 3 each
April 12 Purchased 300 units @ $ 4 each
April 22 Purchased 500 units @ $ 5 each
April 30 Sold 1,600 units
Calculate the cost of goods sold on April 30, using
a. LIFO valuation method
b. FIFO valuation method
c. Weighted-average valuation method
Related Book For
Niebels Methods, Standards and Work Design
ISBN: 978-0073376318
13th edition
Authors: Andris Freivalds, Benjamin Niebel
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