Note: Round your answers to the nearest cent. Beginning inventory and purchases January 1 April 10 May 15 July 22 August 19 September 30 November 10 December 15 Cost of ending inventory Cost of goods sold Units 6 9 13 14 19 19 33 15 Unit cost $ 1.90 2.40 2.90 3.15 3.90 4.10 4.30 4.70
Note: Round your answers to the nearest cent. Beginning inventory and purchases January 1 April 10 May 15 July 22 August 19 September 30 November 10 December 15 Cost of ending inventory Cost of goods sold Units 6 9 13 14 19 19 33 15 Unit cost $ 1.90 2.40 2.90 3.15 3.90 4.10 4.30 4.70
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
vi.3
![From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO method, ending inventory is 55 units.
Note: Round your answers to the nearest cent.
Beginning inventory and
purchases
January 1
April 10
May 15
July 22
August 19
September 30
November 10
December 15
Cost of ending inventory
Cost of goods sold
Units
CONHEIME
6
9
13
14
19
19
33
15
Unit cost
$ 1.90
2.40
2.90
3.15
3.90
4.10
4.30
4.70](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff0a9b460-e816-4aec-9e50-eea8f65992a3%2Fdeba33bb-34fb-40d4-8c84-44232bcc5839%2Ft9m3zwc_processed.png&w=3840&q=75)
Transcribed Image Text:From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO method, ending inventory is 55 units.
Note: Round your answers to the nearest cent.
Beginning inventory and
purchases
January 1
April 10
May 15
July 22
August 19
September 30
November 10
December 15
Cost of ending inventory
Cost of goods sold
Units
CONHEIME
6
9
13
14
19
19
33
15
Unit cost
$ 1.90
2.40
2.90
3.15
3.90
4.10
4.30
4.70
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