Book2.xlsx - 11-Jan 9-Jan 7-Jan 5-Jan 3-Jan 1-Jan 30-Dec 12 MP8 from Jan inverntory $299 1 12 MP8 from Jan inverntory $299 15 MP8 from may 12 purchase

Book2.xlsx - 11-Jan 9-Jan 7-Jan 5-Jan 3-Jan 1-Jan 30-Dec 12...

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30-Dec 1-Jan 3-Jan 5-Jan 7-Jan 9-Jan 11-Jan 12 MP8 from Jan. inverntory @ $299
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1 12 MP8 from Jan. inverntory @ $299 3588 15 MP8 from may 12 purchase @ $306 4590 21 MP8 from July 9 purchase @ 308 6468 3 MP8 from Oct 4 purchase @ 315 945 Cost of goods sold 15591 Inventory dec 31 7015 2 17 MP8 from Dec 18 purchase @ 320 5440 8 MP8 from Oct. 4 purchase @ 315 2520 21 MP8 from july 9 purchase @ $308
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Unformatted text preview: 6468 5 MP8 from May 12 purchase @ 299 1530 cost of goods sold 15958 Inventory Dec 31 6648 3 51 MP8 at average cost @ 310 15810 Inventory Dec 31 6796 part b the FIFO method provides the most realistc balance sheet valuation of inventory. Fifo doesn’t have a realistic measure of income because gross profit may be overstated....
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