Youtube to mos con Following is partial information for the income statement of Audio Solutions...
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Youtube to mos con Following is partial information for the income statement of Audio Solutions Company under three different inventory costing methods, assuming the use of a periodic inventory system Required: 1. Compute cost of goods sold under the FIFO, LIFO and average cost inventory costing methods. (Round intermediate calculations to 2 decimal places. Round your answers to the neare amount.) FIFO LIFO Average Cost $ Cost of goods sold Beginning inventory (390 units $28) Purchases (462 unts@ $34) Goods available for sale Ending inventory (540 units) Cost of goods sold 10.140$ 15,708 10.140 $ 10.140 55.708 708 2. Prepare an income statement through pretax income for each method Sales, 312 units, unit sales price, 562: Expenses $1.510 FIFO LIFO Average Cost 141) SAU
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