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Beginning inventory (Jan. 1) Purchase (Jan. 11) Purchase (Jan. 20) Total Quantity Unit Cost Total Cost 23 15 26 64 $14 $ 20 $ 22 $322 300 572 $ 1,194

Beginning inventory (Jan. 1) Purchase (Jan. 11) Purchase (Jan. 20) Total Quantity Unit Cost Total Cost 23 15 26 64 $14 $ 20 $ 22 $322 300 572 $ 1,194

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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Calculate the cost of goods sold and Ending inventory value under LIFO?

Beginning inventory (Jan. 1) Purchase (Jan. 11) Purchase (Jan. 20) Total Quantity Unit Cost Total Cost 23 15 26 64 $ 14 $ 20 $ 22 $322 300 572 $ 1,194 On January 14, Beech Soda, Inc. sold 28 units of this product. The other 36 units remained in inventory at January 31.
Transcribed Image Text:Beginning inventory (Jan. 1) Purchase (Jan. 11) Purchase (Jan. 20) Total Quantity Unit Cost Total Cost 23 15 26 64 $ 14 $ 20 $ 22 $322 300 572 $ 1,194 On January 14, Beech Soda, Inc. sold 28 units of this product. The other 36 units remained in inventory at January 31.
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