Please do not give solution in image format thanku Whispering Winds Corp. uses a perpetual inventory system. Data for product E2-D2 include the following purchases.DateMay 7July 28FIFONumber of Units4829On June 1, Whispering Winds sold 24 units, and on August 27, 29 more units.Compute the cost of goods sold using (a) FIFO, (b) LIFO, and (c) average-cost. (Round average cost per unit to 3 decimal places,e.g. 1.246.)LIFOAverage-costUnit Price$1114$$Cost of Goods Sold

Calculation of cost of goods sold under LIFO , FIFO and average cost are as followsFIFO - the…

Whispering Winds Corp. uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Number of Units 48 29 Date May 7 July 28 On June 1, Whispering Winds sold 24 units, and on August 27, 29 more units. Compute the cost of goods sold using (a) FIFO, (b) LIFO, and (c) average-cost. (Round average cost per unit to 3 decimal places, e.g. 1.246.) FIFO LIFO Average-cost $ Unit Price $11 14 $ Cost of Goods Sold

Whispering Winds Corp. uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Number of Units 48 29 Date May 7 July 28 On June 1, Whispering Winds sold 24 units, and on August 27, 29 more units. Compute the cost of goods sold using (a) FIFO, (b) LIFO, and (c) average-cost. (Round average cost per unit to 3 decimal places, e.g. 1.246.) FIFO LIFO Average-cost $ Unit Price $11 14 $ Cost of Goods Sold

Principles of Accounting Volume 1

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ISBN:9781947172685

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Chapter10: Inventory

Section: Chapter Questions

Problem 4PA: Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering...

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Question

Please do not give solution in image format thanku

Whispering Winds Corp. uses a perpetual inventory system. Data for product E2-D2 include the following purchases.
Date
May 7
July 28
FIFO
Number of Units
48
29
On June 1, Whispering Winds sold 24 units, and on August 27, 29 more units.
Compute the cost of goods sold using (a) FIFO, (b) LIFO, and (c) average-cost. (Round average cost per unit to 3 decimal places,
e.g. 1.246.)
LIFO
Average-cost
Unit Price
$11
14
$
$
Cost of Goods Sold

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