Air Force Surplus began May 2018 with 80 stoves that cost $20 each. During the...
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Air Force Surplus began May 2018 with 80 stoves that cost $20 each. During the month, the company made the following purchases at cost: (Click the icon to view the purchases.) The company sold 285 stoves, and at May 31, the ending inventory consisted of 65 stoves. The sales price of each stove was $45. Read the requirements. Requirement 1. Determine the cost of goods sold and ending inventory amounts for May under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar. Average cost Cost of goods sold Ending inventory ** Number of units
Air Force Surplus began May 2018 with 80 stoves that cost $20 each. During the month, the compary made the following purchases at cont: (Cick the icon to view the purchases) The company sold 205 stoves, and at May 31 , the ending inventory consisted of 65 stoves. The sales price of each stove was $45. Read the requirements Requirement 1. Determine the cost of goods sold and ending imveritory amounts for May under the average-cost, FIFO, and LiFO costing methods. Round the average cost per unit to twh decimat places, and round ail other amounts to the nearest colar
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