Westonci.ca offers quick and accurate answers to your questions. Join our community and get the insights you need today. Join our Q&A platform and connect with professionals ready to provide precise answers to your questions in various areas. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.
Sagot :
The cost of most recent inventory to use the LIFO method to compute COGS (Cost of Goods Sold). Divide it by the quantity of inventory that was sold.
Total expense equals (18 x 1) plus (2 x 11) = $40. 18 plus 11 is a total of 29 units.
How is FIFO used to determine ending inventory?
The FIFO approach employs the most recent units for calculation while the first units are sold. Since the most recent units were bought for $10, the ending inventory would be 1,500 x 10 = 15,000 as a result. For Harod's business, the final inventory would be $15,000.
How to calculate the cost of goods sold?
In order to compute cost of goods sold (COGS), one must first determine the value of inventory at the start of the study period, then add the cost of any new inventory acquired throughout the study period, and then deduct the value of inventory held at the end of the study period.
To learn more about Inventory here-
https://brainly.com/question/14184995
#SPJ4
Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.
