Find the cost of goods sold and the cost of ending inventory

Reference no: EM13120497

A new textbook is published in the spring of 2011. Your campus bookstore buys 400 copies at $70 each in June, an additional 1,000 copies in August at $72 each, and 600 copies in December at $75 each. At the end of December 2011, the bookstore has sold 1,900 copies of the text.
Find the cost of goods sold and the cost of ending inventory:
1) under the FIFO method.
2) under the LIFO method

Reference no: EM13120497

Questions Cloud

Find independent probabilities of being a nickel : A person is given 4 coins each with equal and independent probabilities of being a nickel , a penny, a dime or a quarter. What is the probability the person has been 37 cents

What is the probability all sixteen climbers reach summit : In a random sample of 16 mountain climbers who are going to attempt Mt. McKinley, what is the probability of each of the following?

Solutions of quadratic equations : How do you know if a quadratic equation will have one, two, or no solutions? How do you find a quadratic equation if you are only given the solution? Is it possible to have different quadratic equations with the same solution? Explain.

What is the ph of the solution : A solution is prepared by mixing 250 mL of 1.00 M CH3COOH with 500 mL of 1.00 M NaCH3COO.

Find the cost of goods sold and the cost of ending inventory : A new textbook is published in the spring of 2011. Your campus bookstore buys 400 copies at $70 each in June, an additional 1,000 copies in August at $72 each, and 600 copies in December at $75 each. At the end of December 2011, the bookstore has ..

What is the probability that a seven digit phone number : Finding the probability repeats in finite sequences. What is the probability that out of 3 people, 2 were born in the same month.

Calculate total you will pay in income and social security : Assuming that you are single and receive no deduction or any other credits, Mr. Wilson has asked you to calculate the total you will pay in income, Social Security, and Medicare taxes for a salary of $94,000.

What are the tax consequences of the incorporation to david : David organize white Corporation with a transfer of land (basis of $200,00, fair market value of $600,000) that is subject to a mortgage of $150,000. A month before the incorporation, David borrowed $100,000 for personal purpose and gave the bank ..

How many moles of co2 must be added to the system : The system CO2(g) + H2(g) *) H2O(g) + CO(g) is at equilibrium at some temperature. At equilibrium a 4.00 L vessel contains 1.00 mole CO2, 1.00 mole H2, 2.40 moles H2O, and 2.40 moles CO.

User Account

All Pages