FIFO/LIFO Accounting assistance please?
1st mo. of operations ABC Co. made (3) purchases of merch in the following sequence: (1) 300 units @$6.
(2) 400 units @ $7. (3) 200 units @ $8.
360 UNITS ARE ON HAND.
What is the cost of the ending inventory under FIFO method and LIFO method...ABC co. uses a periodic inv. system...I keep getting it...
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1st mo. of operations ABC Co. made (3) purchases of merch in the following sequence: (1) 300 units @$6.
(2) 400 units @ $7. (3) 200 units @ $8.
360 UNITS ARE ON HAND.
What is the cost of the ending inventory under FIFO method and LIFO method...ABC co. uses a periodic inv. system...I keep getting it wrong...
Thank you
(2) 400 units @ $7. (3) 200 units @ $8.
360 UNITS ARE ON HAND.
What is the cost of the ending inventory under FIFO method and LIFO method...ABC co. uses a periodic inv. system...I keep getting it wrong...
Thank you
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