The following data was obtained from the records of James, Inc, for the current year. Sales...
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The following data was obtained from the records of James, Inc, for the current year. Sales during the year were 400 units Jan. 1 February 1 April 1 July 1 Required: 1. Calculate the cost of the ending inventory using: Beginning Inventory 100 units at $10 Purchase Purchase Purchase 200 units at $12 100 units at $14 60 units at $16 a. FIFO. b. LIFO. C Average cost. 2. Calculate the Cost of Goods Sold using: a. FIFO b. LIFO C. Average cost. The following data was obtained from the records of James, Inc, for the current year. Sales during the year were 400 units Jan. 1 February 1 April 1 July 1 Required: 1. Calculate the cost of the ending inventory using: Beginning Inventory 100 units at $10 Purchase Purchase Purchase 200 units at $12 100 units at $14 60 units at $16 a. FIFO. b. LIFO. C Average cost. 2. Calculate the Cost of Goods Sold using: a. FIFO b. LIFO C. Average cost.
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Sales 400 units Jan Begining Inventory kounih10 febl Purchay 200 Um... View the full answer
Related Book For
An Introduction to Geotechnical Engineering
ISBN: 978-0132496346
2nd edition
Authors: Robert D. Holtz, William D. Kovacs, Thomas C. Sheahan
Posted Date:
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