So what was the cost of products sold and ending inventory under (4) LIFO, (5) FIFO, and (6) Average Cost? Assuming the perpetual inventory technique is utilized and costs are calculated at the time of each withdrawal. 1st of June: Balance 450 units at $11 200 copies sold on June 15 for $24 Jun 11: Paid $13 for 950 units. june15 575 items sold at $25 Bought 525 units on June 20 for $14. June27 Sell 324 units at $27

So what was the cost of products sold and ending inventory under (4) LIFO, (5) FIFO, and (6) Average Cost? Assuming the perpetual inventory technique is utilized and costs are calculated at the time of each withdrawal. 1st of June: Balance 450 units at $11 200 copies sold on June 15 for $24 Jun 11: Paid $13 for 950 units. june15 575 items sold at $25 Bought 525 units on June 20 for $14. June27 Sell 324 units at $27

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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