Beginning inventory, purchases, and sales data for T-shirts are as follows: 24 units @$10 April 3 Inventory April 11 Purchase 26 units @ $12 April 14 Sale 36 units April 21 Purchase 18 units @ $15 April 25 Sale 20 units Assuming the business maintains a periodic inventory system, determine the cost of goods sold and ending inventory using the following methods: a. FIFO b. LIFO c. Weighted average cost In your computations, round the average cost per unit to two decimal places and round your final answers to the nearest dollar. Cost of goods sold Ending inventory FIFO LIFO Weighted Average Cost

Beginning inventory, purchases, and sales data for T-shirts are as follows: 24 units @$10 April 3 Inventory April 11 Purchase 26 units @ $12 April 14 Sale 36 units April 21 Purchase 18 units @ $15 April 25 Sale 20 units Assuming the business maintains a periodic inventory system, determine the cost of goods sold and ending inventory using the following methods: a. FIFO b. LIFO c. Weighted average cost In your computations, round the average cost per unit to two decimal places and round your final answers to the nearest dollar. Cost of goods sold Ending inventory FIFO LIFO Weighted Average Cost

Name: None Beginning inventory, purchases, and sales data for T-shirts are a
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Description: None Beginning inventory, purchases, and sales data for T-shirts are as follows:April 3 InventoryApril 11 Purchase24 units @ $1026 units @ $12April 14 Sale36 unitsApril 21 PurchaseApril 25 Sale18 units20 units@ $15Assuming the business maintains a pe

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 4PB: The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are...

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