Use the following information for Problems 32 and 33 Tristan, Inc., uses the LIFO cost-flow...
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Accounting
Use the following information for Problems 32 and 33 Tristan, Inc., uses the LIFO cost-flow assumption to value inventory. It began the current year with 2,000 units of inventory carried at LIFO cost of $20 per unit. During the first quarter, it purchased 8,000 units at an average cost of $40 per unit and sold 9,500 units at $60 per unit. 32. Assume the company does not expect to replace the units of beginning inventory sold; it plans to reduce inventory by year-end to 500 units. What amount of cost of goods sold should be recorded for the quarter ended March 31? a. $335.000 b. S350,000 c. $380,000 d. $387,500 33. Assume the company expects to replace the units of beginning inventory sold in April at a cost of $45 per unit and expects inventory at year-end to be between 2,100 and 2,500 units. What amount of cost of goods sold should be recorded for the quarter ended March 31? a. $335,000 b. $350,000 C. $380,000 d. $387,500
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