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    amyjo0918's Avatar
    amyjo0918 Posts: 3, Reputation: 1
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    #1

    Jun 21, 2009, 02:09 PM
    Average cost, fifo cost, lifo cost
    In may they began with 67 tents @ $17 and purchases of:
    104 tents @ $19
    159 tents @ $21
    36 tents @ $22
    They sold 314 tents and may 31st ending inventory consists of 52 tents. The sales price of each tent was $49.

    Determine the cost of goods sold and ending inventory for the month of may under the average cost, fifo cost, lifo cost. Round average cost per unit 4 decimal places and round all other amounts to nearest dollar.
    Help please! :confused:
    sheraz2014's Avatar
    sheraz2014 Posts: 1, Reputation: 1
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    #2

    Jun 22, 2009, 04:44 AM

    FIFO 16tents $21
    36tents $22

    LIFO 52Tents $17

    Average 52tents $19.7978
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