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Intro. to Financial Final Review INVENTORY EXAMPLES Date Explanation...

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Accounting

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Intro. to Financial Final Review INVENTORY EXAMPLES Date Explanation Units Unit Cost Total Cost 1/1 Beginning inventory 3/15 Purchase 7/20 Purchase 9/4 Purchase 12/2 Purchase 100 300 200 300 $20 24 25 28 30 2,000 7,200 5,000 8,400 3,000 $25,600 Total 1,000 Sales of 750 Units @ $50 a unit- $37,500. Under FIFO, what is the value of the COGS? Under LIFO?? Under Weighted Average?? Under FIFO, what is the value of EI? Under LIFO?? Under Weighted Average

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