Financial Accounting
3rd Edition
ISBN: 9780133791129
Author: Jane L. Reimers
Publisher: Pearson Higher Ed
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Chapter 5, Problem 61PB
1.
To determine
Calculate the cost of goods sold and ending inventory for the month of June under (a) FIFO periodic method, (b) LIFO periodic method and (c) weighted average periodic method.
2.
To determine
Calculate the inventory turnover ratio and average days in inventory for the month of June for each method.
3.
To determine
Calculate the cost of goods sold and ending inventory for the month of June under (a) FIFO perpetual method, and (b) LIFO perpetual method.
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Financial Accounting
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