1. LIFO - January - LIFO - January Purchases Cost of Goods Sold Balance Date Units Rate Cost Units Rate Cost Units Rate Cost Jan 2 250 14.00 3,500 250 14.00 3,500 Jan 8 175 16.00 2,800 425 14.82 6,300 175 16.00 2,800 Jan 10 165 14.00 2,310 85 14.00 1,190 Jan 17 225 15.00 3,375 390 14.58 5,685 Jan 20 190 15.00 2,850 200 14.18 2,835 35 15.00 525 Jan 23 130 14.00 1,820 35 14.00 490 Jan 25 300 13.00 3,900 430 13.30 5,720 Jan 27 250 13.00 3,250 180 13.72 2,470 50 13.00 650 Jan 29 115 14.00 1,610 15 14.00 210 Jan 30 150 14.00 2,100 265 14.00 3,710 1100 14.25 15,675 835 14.33 11,965 265 14.00 3,710
1. LIFO - January - LIFO - January Purchases Cost of Goods Sold Balance Date Units Rate Cost Units Rate Cost Units Rate Cost Jan 2 250 14.00 3,500 250 14.00 3,500 Jan 8 175 16.00 2,800 425 14.82 6,300 175 16.00 2,800 Jan 10 165 14.00 2,310 85 14.00 1,190 Jan 17 225 15.00 3,375 390 14.58 5,685 Jan 20 190 15.00 2,850 200 14.18 2,835 35 15.00 525 Jan 23 130 14.00 1,820 35 14.00 490 Jan 25 300 13.00 3,900 430 13.30 5,720 Jan 27 250 13.00 3,250 180 13.72 2,470 50 13.00 650 Jan 29 115 14.00 1,610 15 14.00 210 Jan 30 150 14.00 2,100 265 14.00 3,710 1100 14.25 15,675 835 14.33 11,965 265 14.00 3,710
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter5: Accounting For Retail Businesses
Section: Chapter Questions
Problem 43E: Cost of goods sold Based on the following data, determine the cost of goods sold for July:
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