The following information is for Blakemore Company for 2013 Required:
Assuming that Blakemore uses the FIFO cost flow method,
a) How much product cost would be allocated to Cost of Goods Sold?
b) How much product cost would be allocated to Merchandise Inventory at the end of the year?
c) Calculate the average number of days to sell inventory for the year.

Question

The following information is for Blakemore Company for 2013  Required:
Assuming that Blakemore uses the FIFO cost flow method,
a) How much product cost would be allocated to Cost of Goods Sold?
b) How much product cost would be allocated to Merchandise Inventory at the end of the year?
c) Calculate the average number of days to sell inventory for the year.

Quizplus · Accepted Answer

The Answer of The following information is for Blakemore Company for 2013  Required:
Assuming that Blakemore uses the FIFO cost flow method,
a) How much product cost would be allocated to Cost of Goods Sold?
b) How much product cost would be allocated to Merchandise Inventory at the end of the year?
c) Calculate the average number of days to sell inventory for the year.

The Following Information Is for Blakemore Company for 2013