please answer question 8 and 9. Both questions use the same chart ...

60.1K

Verified Solution

Question

Accounting

please answer question 8 and 9. Both questions use the same chart
image
Question 8 (two points). Show your work. Calculate the ending inventory, assuming that the company uses the LIFO inventory method. There are 61 units in ending inventory Cost per unit Money value of all units combined 425.00 Units Beginning inventory 25 17.00 First purchase during the year 33 18.00 594.00 Second purchase during the year 40 19.00 760.00 Third purchase during the year 32 21.00 672.00 Goods available for sale 130 2,451.00 1 Question 9 (two points). Show your work. Calculate the cost of goods sold, assuming that the company uses the LIFO inventory method. There are 61 units in ending inventory Cost per unit Money value of all units combined 425.00 Beginning inventory Units 25 17.00 First purchase during the year 33 18.00 594.00

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students