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- Use LIFO to determine the cost of the ending inventory. Assume 35 FitBits in inventory at the end of the year b. was the Cost of Goods Sold (COGS)?What is the ending inventory on this financial accounting question?1. Inventory turnover is calculated as __________ divided by __________. cost of goods sold; inventory cost of goods sold; average inventory cost of goods sold; total assets average inventory; cost of goods sold 2. The number of days’ sales in inventory is calculated as __________ divided by __________. average inventory; average daily cost of goods sold ending inventory; cost of goods sold net income; sales cost of goods sold; average inventory
- Given the following information, how much is the Inventory, beginning? Inventory end. P162,000 Net purchases, P216,000 Cost of goods sold, P144,000.What is the inventory turnover if COGS is $10,000, beginning inventory was 200, and ending inventory was 76?What is the correct ending balance of Inventory under the LIFO method given the following information? Beginning Inventory: 35 units @€17, Purchase 1: 10 units @€22, Purchase 2: 15 units @€35, Ending Inventory: 40 units. Assume that the sale occurs after all inventory purchases. Answer: X
