Note that this was everything given for this particular item. Use the information below to figure out what the Cost of Goods Sold is for the order placed for FIFO LIFO and Weighted Average Cost (Average Cost) · Date Explanation Units Unit Cost Total Cost 1/15/2021 Beginning Inventory 10 $7 $70 2/2/2021 Purchase 35 $8 280 2/28/2021 Purchase 56 $9 504 5/15/2021 Purchase 104 $10 1,040 9/30/2021 Purchase 220 $11 2,420 Sales - 5 units for $1,300 (5 * 300)

Note that this was everything given for this particular item. Use the information below to figure out what the Cost of Goods Sold is for the order placed for FIFO LIFO and Weighted Average Cost (Average Cost) · Date Explanation Units Unit Cost Total Cost 1/15/2021 Beginning Inventory 10 $7 $70 2/2/2021 Purchase 35 $8 280 2/28/2021 Purchase 56 $9 504 5/15/2021 Purchase 104 $10 1,040 9/30/2021 Purchase 220 $11 2,420 Sales - 5 units for $1,300 (5 * 300)

Name: Note that this was everything given for this particular item. Use the
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Note that this was everything given for this particular item. Use the information below to figure out what the Cost of Goods Sold is for the order placed forFIFOLIFOand Weighted Average Cost (Average Cost)· Date ExplanationUnits Unit CostTotal

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 1.3C

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Thebes Company had the following information: What is the markup based on cost of goods sold? a. 50.0% b. 100.0% c. 37.5% d. 62.5%
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Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).
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· Date	Explanation	Units	Unit Cost	Total Cost
1/15/2021	Beginning Inventory	10	$7	$70
2/2/2021	Purchase	35	$8	280
2/28/2021	Purchase	56	$9	504
5/15/2021	Purchase	104	$10	1,040
9/30/2021	Purchase	220	$11	2,420