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information 235 10/20 Teglv Pancha Punch 130 and i ng your...

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Accounting

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information 235 10/20 Teglv Pancha Punch 130 and i ng your wens A physical count of inventory Instructions Answer the following independ 1. Assume that the company uses the FIFO ed The value of the ending inventory December 31 The value of the cost of goods sold December 31 Show your computations COG) 120 +529+1 2. Assume that the company uses the LIFO method The value of the ending inventory on December 31 is 5 The value of the cost of goods sold at December 31 is 5 Show your computations: 432+ 232 t 3. Assume that the company uses the Average Cost method. The value of the ending inventory at December 31 is $_ The value of the cost of goods sold at December 31 is s Show your computations: Page 17 of 21

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