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FINANCIAL Accounting- reporting and analyzing inventory image.jpg

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Jan 1. Beginning Inventory .15 units @ $20 Feb 20 Purchase .. .12 units @ $24 Apr 10 Purchase..... .20 units @ $25 Nov 15 Purchase .8 units @ $16 The physical count at end of year reveals there a 16 units on hand. Use the info above to answer the questions below. 4) Using the FIFO method, what is inventory cost? 12.5 Points 5) Using the LIFO method, what is inventory cost? 12.5 Points 6) Using the weighted average method, what is inventory cost? 12.5 Points 7) Using the FIFO method, what is the cost of good sold? 12.5 Points 8) Using the LIFO method, what is the cost of good sold? 12.5 Points Click the button below to submit your test. You will not be able to change your answers after this. Type here to search O e 9 D/II X F-7 F2 F3 F4 PrtS F5 F6

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Jan 1. Beginning Inventory .15 units @ $20 Feb 20 Purchase .. .12 units @ $24 Apr 10 Purchase..... .20 units @ $25 Nov 15 Purchase .8 units @ $16 The...
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