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I need help with LIFO inventory accounting




Question;The Bradley Corporation produces a product with the following costs as of July 1, 2014: Material $ 4 per unit Labor 4 per unit Overhead 2 per unit;Beginning inventory at these costs on July 1 was 4,000 units.;From July 1 to December 1, 2014, Bradley produced 14,000 units. These;units had a material cost of $2, labor of $3, and overhead of $4 per;unit. Bradley uses LIFO inventory accounting.a. Assuming that Bradley sold 17,000 units during the last six months of the year at $14 each, what is its gross profit? Gross profit $ b. What is the value of ending inventory? Ending inventory


Paper#60691 | Written in 18-Jul-2015

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