Solution-Compute the cost of goods sold for the year

Compute the cost of goods sold for the year

Reference no: EM132644083

Problem - Wilson Company had the following information for the year ending December 31:

	Units	Unit Cost
Beginning inventory	330	$35
Purchase: April 6	390	43
Sale: May 4	580
Purchase: July 19	240	44
Sale: September 9	200
Purchase: October 10	120	45

Wilson uses the perpetual inventory system and the LIFO method.

Required - Using LIFO

(a) Compute the cost of ending inventory.

(b) Compute the cost of goods sold for the year.

Reference no: EM132644083

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Compute the cost of goods sold for the year

Reference no: EM132644083

Reference no: EM132644083

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