Abshire Corp uses the periodic inventory system. The following table shows beginning inventory and inventory purchases for 2023 Cost per unit $34 $37 $41 $43 Beginning Inventory March 10 June 11 October 15 Units 2,140 1,498 899 1,648 Cost of Goods Sold ($) Abshire Corp sold 3,773 units for $73 each Required: Fill in the following table with amounts for Cost of Goods Sold for 2023 based on the FIFO, LIFO, and weighted average inventory valuation methods. You may round your final answer to the nearest dollar FIFO Totals 72,760 55,426 36,859 70,864 133/21 LIFO 153,005 Weighted Average 143910

Abshire Corp uses the periodic inventory system. The following table shows beginning inventory and inventory purchases for 2023 Cost per unit $34 $37 $41 $43 Beginning Inventory March 10 June 11 October 15 Units 2,140 1,498 899 1,648 Cost of Goods Sold ($) Abshire Corp sold 3,773 units for $73 each Required: Fill in the following table with amounts for Cost of Goods Sold for 2023 based on the FIFO, LIFO, and weighted average inventory valuation methods. You may round your final answer to the nearest dollar FIFO Totals 72,760 55,426 36,859 70,864 133/21 LIFO 153,005 Weighted Average 143910

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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