Solved

The Units of Product Green-2 Available for Sale During the Year

Question 56

Essay

The units of Product Green-2 available for sale during the year were as follows:
 Aprl 1 Inventory 15 units @$30 June 16 Purchase 29 units @$33 Sep. 28 Purchase 45 units @$35\begin{array}{lrll}\text { Aprl } & 1 & \text { Inventory } & 15 \text { units } &@& \$30 \\\text { June } & 16 & \text { Purchase } & 29 \text { units } &@& \$33\\\text { Sep. } & 28 & \text { Purchase } & 45 \text { units }&@& \$35\end{array}
There are 17 units of the product in the physical inventory at September 30.The periodic inventory system is used.Determine the cost of merchandise sold by a FIFO,b LIFO,and c average cost methods.

Correct Answer:

verifed

Verified

None...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions