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Calculate cost of goods sold, ending inventory, & gross profit for LIFO, FIFO &
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Hello, I have tried this example several times but do not seem to get the correct answer . I would appreciate your help with this one. Thanks: Twin Co. is a retailer operating which uses the perpetual inventory method. All sales returns from customers result in the goods being returned to...
Compute inventory cost of goods sold using periodic FIFO and LIFO
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Thompson sells a basketball, NBA, that is popular with basketball players. Below is information relating to Thompson's purchases of NBA baskeballs during September. During the same month, 118 NBA baskeballs were sold. Thompson uses a periodic inventory system. Sept 1 Inventory 15 $97 ...
Average cost, fifo cost, lifo cost
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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...
Find Cost of goods sold and ending inventory using.average cost/FIFO/LIFO
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I'm having a hard time with the fifo and lifo method... of this question Began with 73 yards @ 23 per yard During the month the company made the following purchases. March 3/4 113 yards @ 27 3/12 81 yards @ 29 3/19 167 yards @ 32 3/25 44 yards @ 35
Periodic system FIFO, LIFO, Avg Cost
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Beginning inventory and purchases as follows: Beg Inv... 7 @ $104 1st purch... 12 @ $103 2nd purch... 19 @ $105 3rd purch... 11 @ $107 Use periodic system. 19 units were left in inventory at the end of the period. Determine the cost of the 19 units in the inventory by each method, show... View more questions Search
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