Tremblay Corporation reports the following inventory activity for the current year: Beginning inventory 1,800...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Tremblay Corporation reports the following inventory activity for the current year: Beginning inventory 1,800 @ $57 each $102,600 Inventory purchased 9,450 @ $60 each 567,000 Cost of goods available 11,250 units $669,600 During the year, Tremblay sold 9,600 units. Compute its cost of goods sold for the year and the ending inventory reported on its balance at year-end under three separate assumptions: FIFO, LIFO, and Average cost. Do not round intermediate calculations. Round your final answer to the nearest whole number. Cost of goods sold $ Ending inventory $ Cost of goods sold $ Ending inventory $ FIFO Cost of goods sold $ Ending inventory $ LIFO Average Cost
Tremblay Corporation reports the following inventory activity for the current year During the year, Tremblay sold 9,600 units Compute its cost of goods sold for the year and the ending inventory reported on its balance at year-end under three separate assumptions: FiFo, LifO, and Average cost. Do not round intermediate calculations. Round your final answer to the nearest whole number
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
