Reference no: EM132995079
Question - A company had inventory of 5 units at a cost of $20 each on November 1. On November 2, it purchased 10 units at $22 each. On November 6 it purchased 6 units at $25 each. On November 8, it sold 18 units for $54 each.
Using the LIFO inventory method, what was the cost of the 3 units remaining in inventory?
Using the FIFO inventory method, what was the cost of the 18 units sold?
Using the LIFO inventory method, what was the cost of the 18 units sold?
Using the average inventory method, what was the cost of the 18 units sold?
Using the average inventory method, what was the cost of the 3 units remaining in inventory?
Using the FIFO inventory method, what was the cost of the 3 units remaining in inventory?
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