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The following information is available for Sigma Company Units Unit Cost 300 $12 $ 3,600 April 1: Inventory April 5: Purchase April 12 Purchase 800 15 12,000 700 16 11,200 April 20: Purchase 500 19 9,500 April 28: Purchase 300 22 6,600 April 30: Inventory 370 1-Compute each of the following under the average-cost method: (a) Cast of ending inventory and (b) Cost of goods sold. 2- Compute each of the following under the FIFO method: (a) Cost of ending inventory and (b) Cost of goods sold. Show your work. Total cost

The following information is available for Sigma Company Units Unit Cost 300 $12 $ 3,600 April 1: Inventory April 5: Purchase April 12 Purchase 800 15 12,000 700 16 11,200 April 20: Purchase 500 19 9,500 April 28: Purchase 300 22 6,600 April 30: Inventory 370 1-Compute each of the following under the average-cost method: (a) Cast of ending inventory and (b) Cost of goods sold. 2- Compute each of the following under the FIFO method: (a) Cost of ending inventory and (b) Cost of goods sold. Show your work. Total cost

FINANCIAL ACCOUNTING
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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please solve with the FIFO method ( question 2)

The following information is available for Sigma Company: Units Unit Cost 300 $ 3,600 April 1: Inventory April 5: Purchase April 12:Purchase 800 12,000 700 11,200 April 20: Purchase 500 9,500 April 28: Purchase 300 22 6,600 April 30: Inventory 370 1-Compute each of the following under the average-cost method: (a) Cost of ending inventory and (b) Cost of goods sold. 2- Compute each of the following under the FIFO method: (a) Cost of ending inventory and (b) Cost of goods sold. Show your work. 12 15 16 19 $ 12 Total cost
Transcribed Image Text:The following information is available for Sigma Company: Units Unit Cost 300 $ 3,600 April 1: Inventory April 5: Purchase April 12:Purchase 800 12,000 700 11,200 April 20: Purchase 500 9,500 April 28: Purchase 300 22 6,600 April 30: Inventory 370 1-Compute each of the following under the average-cost method: (a) Cost of ending inventory and (b) Cost of goods sold. 2- Compute each of the following under the FIFO method: (a) Cost of ending inventory and (b) Cost of goods sold. Show your work. 12 15 16 19 $ 12 Total cost
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