Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. your friend from maui co. was super interested in

Your friend from Maui Co. was super interested in understanding what COGS would be if...

80.2K

Verified Solution

Question

Accounting

Your friend from Maui Co. was super interested in understanding what COGS would be if they were to use LIFO instead.

The same scenario still applies as in the above question, but is repeated below for your convenience:

Your friend started the year with a beginning balance in inventory of 100 units (cost of $50/unit). On January 15, they purchased 75 more units (cost of $40/unit) and on January 25, they purchased 65 more units (cost of $45/unit). Finally, on January 28, they purchased 25 more units (cost of $35/unit). During January, they sold 185 units.

Calculate COGS for the month of January using LIFO.

Fill in the blank (important: please do not use commas, decimals, or dollar signs i.e., please just type your number answer, e.g., 5500).

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!
Become a Member

Other questions asked by students

Q

According to game theory, what should we expect in a situation where two individuals are interacting...

Biology
Q

Draw a Punnett square for a monohybrid cross between A) two homozygous parents (one dominant and...

Biology
Q

Two narrow parallel slits separated by 0 250 mm are illuminated by green light 546...

Physics
Q

Inputs of a MP Inputs of b MP 25 1 40 36 32 24 20...

Basic Math
Q

Find the function y y x given dy dx x 7 e y y 7...

Calculus
Q

Find the eighth term of the geometric sequence

Algebra
Q

You have been asked to prepare a December cash budget for Ashton Company, a distributor...

Accounting
Q

Our data provider reported that Ralph Lauren received a total value of $16,500,004 in the...

Accounting
Q

On January 1, a company purchased 3%, 20-year corporate bonds for $69,033,776 as an investment....

Accounting
Q

https://gtc.blackboard.com/bbcswebdav/pid-3988793-dt-content-rid-11422102_2/courses/ODA_101-114_V1/Target%202017%20Annual%20Report.pdf Balance Sheet Targets Balance Sheet (Consolidated Statements of Financial Position) is found on the...

Accounting
Q

HELP Coolbrook Company has the following Information avallable for the past year: The...

Accounting
Q

Academy Surplus had shares of common stock and shares of %, par value preferred stock...

Accounting