Business/Professional Ethics Directors/Executives/Acct
8th Edition
ISBN: 9781337485913
Author: BROOKS
Publisher: Cengage
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What was Gabriel's cost of goods sold for the year?
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Company Y reported FIFO ending inventory of $126,500 and a beginning inventory of $119,200 for 2021. Inventory purchases for 2021 were $265,300, and the change in the LIFO reserve for 2020 was an increase in the LIFO reserve of $890. Calculate the value of COGS LIFO for Company Y in 2021.
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