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Compute the ending inventory value using the lifo method

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Reference no: EM132626153

PT. Covid 19 conducts treatment (purchase, sale) of inventory in 2020 as follows :

DATE 2 JAN; DESCRIPTION: INITIAL INVENTORIES ; QUANTITY: 250 UNITS ;PRICE: IDR 10,000

DATE 10 march; DESCRIPTION: PURCHASE ; QUANTITY: 350 UNITS ;PRICE: IDR 11,000

DATE 5 april; DESCRIPTION: SALES ; QUANTITY: 250 UNITS ;PRICE: IDR 16,000

DATE 7 may; DESCRIPTION: SALES ; QUANTITY: 150 UNITS ;PRICE: IDR 16,000

DATE 21 september; DESCRIPTION: PURCHASE ; QUANTITY: 450 UNITS ;PRICE: IDR 12,000

DATE 18 november; DESCRIPTION: PURCHASE ; QUANTITY: 150 UNITS ;PRICE: IDR 13,000

DATE 20 november; DESCRIPTION: SALES ; QUANTITY: 250 UNITS ;PRICE: IDR 18,000

DATE 10 december; DESCRIPTION: SALES ; QUANTITY: 250 UNITS ;PRICE: IDR 19,000

Requested:

Question 1. Compute the ending inventory value using the LIFO method

Question 2. Calculate Gross Profit and Cost of Goods Sold.

Reference no: EM132626153

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