Please do not give solution in image format thanku The following data was obtained from theinventory records of Zachary Company forthe month of April:April 1inventoryApril 81,000 units @ $3 eachApril 12PurchasedeachApril 22PurchasedeachSoldunitsApril 30Beginning2,000 units @ $2 eachPurchaseda.b.300 units @ $4C.valuation method500 units @ $5Calculate the cost of goods sold on April30, using1,600LIFO valuation methodFIFO valuation methodWeighted-average

LIFO valuation method: Using the LIFO (last-in, first-out) method, we assume that the units sold are…

Answered: Calculate the cost of goods sold on…

Calculate the cost of goods sold on April 30, using a. b. C. valuation method LIFO valuation method FIFO valuation method Weighted-average

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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Question

Please do not give solution in image format thanku

The following data was obtained from the
inventory records of Zachary Company for
the month of April:
April 1
inventory
April 8
1,000 units @ $3 each
April 12
Purchased
each
April 22
Purchased
each
Sold
units
April 30
Beginning
2,000 units @ $2 each
Purchased
a.
b.
300 units @ $4
C.
valuation method
500 units @ $5
Calculate the cost of goods sold on April
30, using
1,600
LIFO valuation method
FIFO valuation method
Weighted-average

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