Solution-Determine furn cost of goods sold and ending

Determine furn cost of goods sold and ending inventory

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Reference no: EM133108817

Question - The Furn Store sells home furnishings, including bean bag chairs. Here is the first quarter information for bean bag chairs:

Date	Number of Items	Cost per Item
January 1 (Beginning Balance)	16	$19
January 17 Purchased	5	20
February 10 Purchased	12	21
March 1 Purchased	11	22

Bean bag chairs sold = 29

Required -

1. Determine Furn's cost of goods sold and ending inventory under periodic FIFO.

2. Determine Furn's cost of goods sold and ending inventory under periodic LIFO.

Reference no: EM133108817

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Determine furn cost of goods sold and ending inventory

Reference no: EM133108817

Reference no: EM133108817

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