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vaughn company reports the following for the montmorJune. June 1 (a) 12 Inventory Purchase Units 200 410 23 Purchase 300 30 Inventory 150 Cost of goods sold Cost of the ending inventory $ Unit Cost $5 $ 9 Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. 7 Total Cost $1,000 2,460 2,100 FIFO $ S LIFO

vaughn company reports the following for the montmorJune. June 1 (a) 12 Inventory Purchase Units 200 410 23 Purchase 300 30 Inventory 150 Cost of goods sold Cost of the ending inventory $ Unit Cost $5 $ 9 Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. 7 Total Cost $1,000 2,460 2,100 FIFO $ S LIFO

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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vaughn company reports the following for the montmor June June 1 (a) 12 23 30 Inventory Purchase Purchase 300 Inventory 150 Units 200 410 Cost of the ending inventory $ Cost of goods sold Unit Cost $ $5 6 Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. 7 Total Cost $1,000 2,460 2,100 FIFO LIFO
Transcribed Image Text:vaughn company reports the following for the montmor June June 1 (a) 12 23 30 Inventory Purchase Purchase 300 Inventory 150 Units 200 410 Cost of the ending inventory $ Cost of goods sold Unit Cost $ $5 6 Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. 7 Total Cost $1,000 2,460 2,100 FIFO LIFO
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