1. ABC Co sells furniture. Information relating to ABC's purchases of furniture during September is shown below. During the same month, 121 pieces of furniture were sold. (Periodic Method) Compute the ending inventory and COGS for September under FIFO and LIFO. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 26 $ 97 $ 2,522 Sept. 12 Purchases 45 102 4,590 Sept. 19 Purchases 20 104 2,080 Sept. 26 Purchases 50 105 5,250 Totals 141 $14,442

1. ABC Co sells furniture. Information relating to ABC's purchases of furniture during September is shown below. During the same month, 121 pieces of furniture were sold. (Periodic Method) Compute the ending inventory and COGS for September under FIFO and LIFO. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 26 $ 97 $ 2,522 Sept. 12 Purchases 45 102 4,590 Sept. 19 Purchases 20 104 2,080 Sept. 26 Purchases 50 105 5,250 Totals 141 $14,442

Name: 1. ABC Co sells furniture. Information relating to ABC's purchases of
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Description: 1. ABC Co sells furniture. Information relating to ABC's purchases of furniture duringSeptember is shown below. During the same month, 121 pieces of furniture were sold. (PeriodicMethod)Compute the ending inventory and COGS for September under FIFO

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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give me the ending inventory for sept 30 and cost of goods sold for sept 30 ( FIFO, LIFO, AVERAGE COST)
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