The Following Information for Urbanski Corporation Relates to the Three

Essay

The following information for Urbanski Corporation relates to the three months ending June 30, 2011:
Answer: Urbanski uses the LIFO method to account for inventory, and expects at least 15,000 units to be on hand in the ending inventory at year-end. Purchases made in the last six months are expected to cost an average of $18 per unit.
-Compute cost of goods sold and gross profit for the quarter ending June 30, 2011.