A accounting interview: determine cost of commodities sold and climax inventory using FIFO, LIFO, and average cost.?

eddings company had a launch inventory of 400 units of product at a cost of $8.00 per component. during the year purchases were:
feb 20 600 unit (a) $9 may 5 500 units (a) $10
aug 12 300 unit (a) $11 dec 8 200 units at $12
sale totaled 1,500 units.

so what be it really using a periodic inventory system.

Value of 1928 $20.00 bill.a03605708a?



Answers:   LIFO:
200 (a) 12
300 (a) 11
500 (a) 10
500 (a) 9

Total COGS = $15,200 or $10.13/ section

FIFO:
400 (a) 8
600 (a) 9
500 (a) 10

Total COGS = $13,600 or $9.07 unit

Average Cost:
Total Units = 2,000
Total Cost = 19,300

Average cost per part = $9.65
Total COGS (1,500 units) = $14,475

Resolved Questions:
  • Is partly.com a reliable source to buy textbook?
  • 12 workforce complet 20 cases contained by one month. how several team do you want to complete 6000 cases contained by 5 months?
  • Should I choose food & a roof over my director or strength insurance?
  • Can anyone expect of where on earth the regulation conflicts near cultural practices?
  • Ideas for a Finance specific regression analyis?
  • The entirety of this site is protected by copyright © 2008. All rights reserved. RunEye.com