Dollar value of ending inventory-fifo lifo weighted average

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Reference no: EM131267740

Stewart Company sold 180 units @ $320 each on October 31, Year XXX1. Cash selling and administrative expenses were $15,000. The following information about the purchase of inventory and carrying value of inventory on January 1, Year XXX1 is also available: Beginning inventory 30 units @$180 Feb 3 purchase 60 units @$190 June 2 purchase 70 units @$220 October 1 purchase 40 units @$230 The company’s income tax rate is 40%. Required: a) Determine the amount of cost of goods sold using: FIFO LIFO Weighted Average b) Determine the dollar value of ending inventory using: FIFO LIFO Weighted Average c) Determine the company's net income (after income taxes) using: FIFO LIFO Weighted Average

Reference no: EM131267740

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Dollar value of ending inventory-fifo lifo weighted average : Stewart Company sold 180 units @ $320 each on October 31, Year XXX1. Cash selling and administrative expenses were $15,000. Determine the amount of cost of goods sold using: FIFO LIFO Weighted Average. Determine the dollar value of ending inventory u..

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