The management of kirchner inc asks your help in

Reference no: EM13596565

The management of Kirchner Inc. asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2010 the accounting records show these data.

Inventory, January 1 (10,000 units) $38,535
Cost of 132,120 units purchased 570,428
Selling price of 104,595 units sold 803,730
Operating expenses 132,120

Units purchased consisted of 38,535 units at $4.07 on May 10; 66,060 units at $4.29 on August 15; and 27,525 units at $4.73 on November 20. Income taxes are 28%.calculate cost of goods sold using Fifo method. Cost of good available for sale is 608963 find ending inventory.

Reference no: EM13596565

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