12. The units of Product PKO available for sale during the year were as follows: Apr 1 Apr 16 Apr 20 Apr 22 Apr 30 There are 15 units of the product in inventory at April 30th (ending inventory). Assume that all sales were after April 22n. Determine the cost of merchandise sold and the ending inventory valuation by (a) FIFO, (b) LIFO, and (c) avg.cost methods. Inventory Purchase Purchase Purchase 16 units 12 units 20 units 12 units $36 $40 $45 $32 Method Cost of Goods Sold Ending Inventory FIFO d1821
12. The units of Product PKO available for sale during the year were as follows: Apr 1 Apr 16 Apr 20 Apr 22 Apr 30 There are 15 units of the product in inventory at April 30th (ending inventory). Assume that all sales were after April 22n. Determine the cost of merchandise sold and the ending inventory valuation by (a) FIFO, (b) LIFO, and (c) avg.cost methods. Inventory Purchase Purchase Purchase 16 units 12 units 20 units 12 units $36 $40 $45 $32 Method Cost of Goods Sold Ending Inventory FIFO d1821
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 4BE: Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory...
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