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Fitcher Industries had the following inventory transactions occur during 2012: Units Cost/unit Feb. 1, 2012 Purchase 18 $45 Mar. 14, 2012 Purchase 31 $47 May 1, 2012 Purchase 22 $49 The company sold 51 units at $63. What is the company's cost of goods sold using LIFO? (rounded to whole dollars)

Respuesta :

Answer:

What is the company's cost of goods sold using LIFO?

$2365

Explanation:

Purchases_______71      

Final Inventory___80      

Sell units _______51___63    

     

FIFO Purc.U.cost Sell Units Cost Final inv. Final Inv.cost

feb-01 18   45        18                   810 0 0

mar-01 31   47         31                 1457 0 0

may-01 22   49          2                    98 20 980

Sell units      

                   51                2365 20 980

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