Following is partial information for the income statement of Audio Solutions Company under three different...
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Accounting
Following is partial information for the income statement of Audio Solutions Company under three different inventory conting methods, assuming the use of a periodic entory system Required: 1. Contoute cont of goods sold under the FIFO, UFO, and average cont inventory costing methods. (Round intermediato calculations to 2 decimal places. Round your answers to the neare amount.) FIFO LIFO Average Cost $ Cost of goods sold Beginning wentory (300 units 526) Purchases (462 units $34) Goods available for sale Ending infory (540 units) Cost of goods sold 10.140$ 15.700 10.140 $ 10.140 15.700 5.700 2. Prepare an income statement through pretax income for each method Salos. 312 units unit soles pon 562: Expenses, 51.510 FO LIFO Average Cost BU 24
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