Solution-Determine the cost of goods sold

Determine the cost of goods sold

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Reference no: EM132254663

Question - The following relates to inventory purchases:

Jan. 1	Beginning inventory	20 units @ $25	=	$500
Mar. 15	Purchase	30 units @ $20	=	600
June 1	Purchase	45 units @ $19	=	855
Sept. 30	Purchase	15 units @ $20	=	300
	Total	100 units		$2,255

There were 30 units remaining in inventory on December 31.

Determine the Cost of Goods Sold and the cost of ending inventory using the FIFO and LIFO valuation methods.

Reference no: EM132254663

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Determine the cost of goods sold : The following relates to inventory purchases: Determine the Cost of Goods Sold and the cost of ending inventory using the FIFO and LIFO valuation methods

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Determine the cost of goods sold

Reference no: EM132254663

Reference no: EM132254663

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