Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Number of Units Unit Cost Sales Beginning inventory 850 $70 Purchased 610 72 Sold 400 $90 Sold 350 100 Ending inventory 710 LIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number Number Number of units Unit Cost Total Cost of units Unit Cost Total Cost of units Unit Cost Total Cost Beginning %$4 Purchase 2$ Sale 24 Sale Total Purchases 2$ Total COGS 24

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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K
H
↑ shift
end
pause
В
Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following
transactions under three different cost allocation methods and using perpetual inventory updating. Provide
calculations for last-in, first-out (LIFO).
Number
of Units Unit Cost Sales
Beginning inventory
850
$70
Purchased
610
72
Sold
400
$90
Sold
350
100
Ending inventory
710
LIFO (perpetual) Inventory
Cost of Goods Purchased
Cost of Goods Sold
Cost of Inventory Remaining
Number
Number
Number
of units Unit Cost Total Cost of units Unit Cost Total Cost of units Unit Cost Total Cost
Beginning
Purchase
Sale
24
$
Sale
Total Purchases
Total COGS
Transcribed Image Text:K H ↑ shift end pause В Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Number of Units Unit Cost Sales Beginning inventory 850 $70 Purchased 610 72 Sold 400 $90 Sold 350 100 Ending inventory 710 LIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number Number Number of units Unit Cost Total Cost of units Unit Cost Total Cost of units Unit Cost Total Cost Beginning Purchase Sale 24 $ Sale Total Purchases Total COGS
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