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Question - Daraaz Corp. shows the following inventory information for the month of April:
April 1 Inventory 150 units @ $4
April 9 Purchased 550 units @ $4.50
April 17 Purchased 350 units @ $4.75
April 30 Purchased 300 units @ $5
Total sales in April were 950 units at a price of $10 per unit.
Required - Calculate the ending inventory, COGS and Gross profit under FIFO and LIFO, assuming that the company uses periodic inventory system.
regal polish manufactures a single product in one department and uses a process costing system. at the start of may
Ending finished goods inventory = $160,000. If cost of goods manufactured totaled $650,000 during the period, what was the cost of goods sold?
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