Andrew Company presents the following data about its inventory for the current year. Units Cost per unit Total Cost Janu
Posted: Wed Jul 06, 2022 6:25 am
Andrew Company presents the following data about its inventoryfor the current year. Units Cost per unit Total Cost January 1,2015 1,000 $ 100 $ 100,000 April 9, 2015 8,000 102 816,000 July 27,2015 9,000 103 927,000 October 17, 2015 7,000 105 735,000 Total25,000 2,578,000 During the year, 23,800 units were sold for $ 250each (Total Sales Revenues = $ 5,950,000.
Calculate the cost of goods sold under FIFO. Calculatethe cost of goods sold under LIFO. Calculate the cost of goods soldunder the average cost method.
Calculate the cost of goods sold under FIFO. Calculatethe cost of goods sold under LIFO. Calculate the cost of goods soldunder the average cost method.