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Olivia Company_Inventory Valuation_LIFO_FIFO_Weighted Average Cost




Question;Inventory Valuation;Olivia;Company has the following inventory information available;Units;Units Cost Total Cost;Jan 1;Beginning Inventory 110 $3.20 $352;Feb 15;Purchase 160 3.00 480;May 20;Purchase 175 3.40 595;Aug 13;Purchase 220 3.60 792;Oct 22;Purchase 140 3.80 532;Dec 21;Purchase 75 4.00 300;=880;=3051;sales;Feb 20;220;Nov 18;300;Dec 12;190;=710;Calculate;ending inventory and cost of goods sold for each of the following cost flow;methods. Round your final answer for ending inventory and cost of goods sold to;the nearest dollar.;a. LIFO;b. FIFO;c.;Weighted Average Cost


Paper#37429 | Written in 18-Jul-2015

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