Hi please help me, thanks! Bloomington Company has the following information related to...
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Hi please help me, thanks!
Bloomington Company has the following information related to its inventory account during during 2019. On December 31, 2019, a physical count showed that the firm had 10,000 units in ending inventory. Therefore, 14,000 units were sold during 2019 (i.e,. 24,000 units from above table minus the 10,000 units from the physical count). Show work and put your answer for the following questions. 4 Calculate the dollar amount for ending inventory that would be reported on the December 31, 2019 balance sheet using the FIFO (first-in, first-out) method. Answer 5 Calculate the dollar amount for cost of goods sold that would be reported on the 2019 income statement using the FIFO (first-in, first-out) method
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