The Precision Door Company sold 2,200 doors during 2018 at $160 per door. Its beginning inventory on January 1 was 130 doors at $56. Purchases made during the year were as follows: February April June August October November 225 doors at $62 350 doors at $65 700 doors at $70 300 doors at $66 400 doors at $68 250 doors at $72 Compute the COGS and Ending Inventory under each of the following inventory cost flow assumptions: (a) Simple Weighted Average, (b) FIFO, (c) LIFO.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The Precision Door Company sold 2,200 doors during 2018 at $160 per door. Its beginning inventory on
January 1 was 130 doors at $56. Purchases made during the year were as follows:
February
April
June
August
October
November
225 doors at $62
350 doors at $65
700 doors at $70
300 doors at $66
400 doors at $68
250 doors at $72
Compute the COGS and Ending Inventory under each of the following inventory cost flow assumptions:
(a) Simple Weighted Average, (b) FIFO, (c) LIFO.
Transcribed Image Text:The Precision Door Company sold 2,200 doors during 2018 at $160 per door. Its beginning inventory on January 1 was 130 doors at $56. Purchases made during the year were as follows: February April June August October November 225 doors at $62 350 doors at $65 700 doors at $70 300 doors at $66 400 doors at $68 250 doors at $72 Compute the COGS and Ending Inventory under each of the following inventory cost flow assumptions: (a) Simple Weighted Average, (b) FIFO, (c) LIFO.
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