Sully Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Sully Company sold a total of 19,600 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) 22.3 Average-cost method cost of goods sold = Average-cost method ending inventory = Requirements 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. Print Done X Data table Beginning inventory Purchases during year Print Quantity Unit Cost 2,000 $ 16.00 18,000 $ 18.00 Done X

Sully Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Sully Company sold a total of 19,600 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) 22.3 Average-cost method cost of goods sold = Average-cost method ending inventory = Requirements 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. Print Done X Data table Beginning inventory Purchases during year Print Quantity Unit Cost 2,000 $ 16.00 18,000 $ 18.00 Done X

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Description: Sully Company's inventory records for the most recent year contain the following data:(Click the icon to view the data.)Sully Company sold a total of 19,600 units during the year.Read the requirements.Requirement 1. Using the average-cost method, co

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 67P

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