Tevin Trader starts a merchandising business on December 1 and enters into three inventory purchases:
Trader sells 15 units for $25 each on December 15. Eight of the sold units are from the December 7
purchase and seven are from the December 14 purchase. Trader uses a perpetual inventory system.
Determine the costs assigned to the December 31 ending inventory when costs are assigned based on
(a) FIFO, (b) LIFO, (c) weighted average, and (d ) specific identification.
2007-07-31
13:49:58
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2 answers
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asked by
Anonymous
in
Business & Finance
➔ Other - Business & Finance