Sully Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Sully Company sold a total of 19,600 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) 22.3 Average-cost method cost of goods sold = Average-cost method ending inventory = Requirements 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. Print Done X Data table Beginning inventory Purchases during year Print Quantity Unit Cost 2,000 $ 16.00 18,000 $ 18.00 Done X

Sully Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Sully Company sold a total of 19,600 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) 22.3 Average-cost method cost of goods sold = Average-cost method ending inventory = Requirements 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. Print Done X Data table Beginning inventory Purchases during year Print Quantity Unit Cost 2,000 $ 16.00 18,000 $ 18.00 Done X

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Description: Sully Company's inventory records for the most recent year contain the following data:(Click the icon to view the data.)Sully Company sold a total of 19,600 units during the year.Read the requirements.Requirement 1. Using the average-cost method, co

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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