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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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