Computing Cost of Goods Sold and Ending Inventory Bartov Corporation reports the following beginning inventory and purchases for the year: Beginning inventory Inventory purchased 600 @ $10 each $6,000 1,050 @ $12 each 12,600 $18,600 Cost of goods available 1,650 units Bartov sells 900 of these units in the year. Compute its cost of goods sold for the year and the ending inventory reported on its year-end balance sheet under each of the following inventory costing methods: (Do not round until your final answer. Round to the nearest whole number.) FIFO LIFO Average cost Cost of goods sold $ 0 $ 0 $ 0 Ending inventory 0 0 0 Check
Computing Cost of Goods Sold and Ending Inventory Bartov Corporation reports the following beginning inventory and purchases for the year: Beginning inventory Inventory purchased 600 @ $10 each $6,000 1,050 @ $12 each 12,600 $18,600 Cost of goods available 1,650 units Bartov sells 900 of these units in the year. Compute its cost of goods sold for the year and the ending inventory reported on its year-end balance sheet under each of the following inventory costing methods: (Do not round until your final answer. Round to the nearest whole number.) FIFO LIFO Average cost Cost of goods sold $ 0 $ 0 $ 0 Ending inventory 0 0 0 Check
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter5: Inventories And Cost Of Goods Sold
Section: Chapter Questions
Problem 5.12MCP
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