c $6,068 | |||||
FIFO | |||||
Date | Particulars | Units | Cost | Amount | COGS |
1-Nov | Beginning Inventory | 20.00 | 90.00 | 1,800.00 | |
5-Nov | Purchases | 120.00 | 92.00 | 11,040.00 | |
Total | 140.00 | 12,840.00 | |||
14-Nov | COGS | 80.00 | 7,320.00 | 20*90+60*92 | |
Total | 60.00 | 5,520.00 | |||
21-Nov | Purchases | 60.00 | 95.00 | 5,700.00 | |
Total | 120.00 | 11,220.00 | |||
30-Nov | Sales | 56.00 | 5,152.00 | 56*92 | |
Ending Inventory | 64.00 | 6,068.00 | 4*92+60*95 | ||
b $5,860 | |||||
LIFO | |||||
Date | Particulars | Units | Cost | Amount | COGS |
1-Nov | Beginning Inventory | 20.00 | 90.00 | 1,800.00 | |
5-Nov | Purchases | 120.00 | 92.00 | 11,040.00 | |
Total | 140.00 | 12,840.00 | |||
14-Nov | COGS | 80.00 | 7,360.00 | 80*92 | |
Total | 60.00 | 5,480.00 | |||
21-Nov | Purchases | 60.00 | 95.00 | 5,700.00 | |
Total | 120.00 | 11,180.00 | |||
30-Nov | Sales | 56.00 | 5,320.00 | 56*95 | |
Ending Inventory | 64.00 | 5,860.00 | 4*95+40*92+20*90 |
Not yet answered Marked out of Flag question 1.00 Cranberry Relish, Inc. has the following inventory...
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