I need to find the costs of goods sold F.I.F.O, the costs of goods sold L.I.F.O, and the costs of goods sold Average Costs...
85 units @ 2.25
140 units @ 2.35 (Jan. 8)
200 units @ 2.10 (Jan. 16)
110 units @ 2.45 (Jan. 28)
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I need to find the costs of goods sold F.I.F.O, the costs of goods sold L.I.F.O, and the costs of goods sold Average Costs...
85 units @ 2.25
140 units @ 2.35 (Jan. 8)
200 units @ 2.10 (Jan. 16)
110 units @ 2.45 (Jan. 28)
Well you certainly can't find any of it based on that information alone, so I think you might need the clairvoyant accountants forum for this one.
To start with you need to know how many goods were sold?
Starting inventory.
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