During October,tedesco Company Sold 240 Units of Product R
During October,Tedesco Company sold 240 units of Product R.Its beginning inventory and purchases during the month were as follows:
Compute the cost of goods sold under each of three methods: (a)average-cost,(b)LIFO,and (c)FIFO.Assume the periodic inventory system is used.(Show your work.)
During the first quarter of 20xx,Blake Company sold 12,000 cases of Product T for $120,000.Facts related to its beginning inventory and purchases are as follows:
For the quarter ended March 31,20xx,compute the ending inventory,cost of goods sold,and gross margin under three methods: (a)average-cost,(b)FIFO,and (c)LIFO.Assume the periodic inventory system is used.(Show your work.)
Use the following information to calculate ending inventory on (a)a LIFO basis,(b)a FIFO basis,and (c)an average-cost basis.Assume a perpetual inventory system.
Round answers to nearest dollar.
Braxton Company uses the retail method to estimate the cost of ending inventory.Use the following information to estimate the cost of Braxton's ending inventory on December 31,2010,using the retail method.Show your answer in good form.