Assignment 1: Inventory Valuation Beginning Inventory: 100 units @ $1First Purchase: 200 units @ $2Second Purchase: 300 units @ $3Third Purchase: 400 units @ $4Ending Inventory: 200 unitsRequired: Based on the above data, compute the ending inventory and cost of goods sold, usinga) FIFOb) LIFOC) Average Cost

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 11PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...
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Assignment 1: Inventory Valuation Beginning Inventory: 100 units @ $1First Purchase: 200
units @ $2Second Purchase: 300 units @ $3Third Purchase: 400 units @ $4Ending Inventory:
200 unitsRequired: Based on the above data, compute the ending inventory and cost of
goods sold, usinga) FIFOb) LIFOC) Average Cost
Transcribed Image Text:Assignment 1: Inventory Valuation Beginning Inventory: 100 units @ $1First Purchase: 200 units @ $2Second Purchase: 300 units @ $3Third Purchase: 400 units @ $4Ending Inventory: 200 unitsRequired: Based on the above data, compute the ending inventory and cost of goods sold, usinga) FIFOb) LIFOC) Average Cost
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