Griselda1204
Mar 27, 2013, 09:37 AM
Jan 1, 2013 Dec 31, 2012
Inventory FIFO $12,000 $14,000
Allowance for LIFO (3,000) (4,500)
Cost of good sold under LIFO was $218,000 for 2012. Determine what cost of goods sold would have been under FIFO
Inventory FIFO $12,000 $14,000
Allowance for LIFO (3,000) (4,500)
Cost of good sold under LIFO was $218,000 for 2012. Determine what cost of goods sold would have been under FIFO