Trusted Tires has the following inventory records for the month ending July 31, 2016:
Trusted Tires sold 140 tires during July.
Compute the ending inventory and the cost of goods sold for the period using FIFO, LIFO, and average cost inventory methods.

Question

Trusted Tires has the following inventory records for the month ending July 31, 2016:
  Trusted Tires sold 140 tires during July.
Compute the ending inventory and the cost of goods sold for the period using FIFO, LIFO, and average cost inventory methods.

Quizplus · Accepted Answer

The Answer of Trusted Tires has the following inventory records for the month ending July 31, 2016:
  Trusted Tires sold 140 tires during July.
Compute the ending inventory and the cost of goods sold for the period using FIFO, LIFO, and average cost inventory methods.

Trusted Tires Has the Following Inventory Records for the Month