Using the FIFO method, calculate the cost of ending inventory and cost of goods sold for CardenCorporationBeginninginventoryPurchasesGoods available forsaleEnding inventoryCost of goods soldThe cost of endinginventory isThe cost of goodssold isUnitQuantity Cost7013020050$150STotal$3.00 $210$7.00$910

FIFO: FIFO stands for First-In, First-Out. In this method inventory purchased first will be sell…

Using the FIFO method, calculate the cost of ending inventory and cost of goods sold for Carden Corporation Beginning inventory Purchases Goods available for sale Unit Quantity Cost The cost of ending inventory is 70 The cost of goods sold is 130 Ending inventory 50 200 Cost of goods sold 150 10 $3.00 Total $210 $7.00 $910

Using the FIFO method, calculate the cost of ending inventory and cost of goods sold for Carden Corporation Beginning inventory Purchases Goods available for sale Unit Quantity Cost The cost of ending inventory is 70 The cost of goods sold is 130 Ending inventory 50 200 Cost of goods sold 150 10 $3.00 Total $210 $7.00 $910

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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Given the following: Numberpurchased Costper unit Total January 1 inventory 32 $ 4 $ 128 April 1 52 6 312 June 1 42 7 294 November 1 47 8 376 173 $ 1,110 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 53 units). b. Calculate the cost of goods sold using the FIFO (ending inventory shows 53 units).
what is the value of a, b, c, and d?