Oriole Company had 110 units in beginning inventory at a total cost of $13,200. The company purchased 220 units at a total cost of $33,000. At the end of the year, Oriole had 75 units in ending inventory. (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to O decimal places, e.g. 1,250.) FIFO LIFO Average-cost The cost of the ending $ $ 2$ inventory The cost of goods sold $ $ 2$
Oriole Company had 110 units in beginning inventory at a total cost of $13,200. The company purchased 220 units at a total cost of $33,000. At the end of the year, Oriole had 75 units in ending inventory. (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to O decimal places, e.g. 1,250.) FIFO LIFO Average-cost The cost of the ending $ $ 2$ inventory The cost of goods sold $ $ 2$
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 4CP: Golden Eagle Company began operations on April 1 by selling a single product. Data on purchases and...
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