6. Hefty Company wants to know the effect of different inventory methods on financial statements....
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6. Hefty Company wants to know the effect of different inventory methods on financial statements. Given below is information about beginning inventory and purchases for the current year January 2 April 7 June 30 December 7 Beginning Inventory 500 units at $3.00 1,100 units at $3.20 400 units at $4.00 1,600 units at $4.40 Purchased Sales during the year were 2,700 units at $5.00. If Hefty used the periodic LIFO method, cost of goods sold would be: a. S2,780 b. S3,960 c. S9,700 d. S10,880 Answer d
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