mod 10

Question 1

how to find good avail

Answer 1

beginning inventory + purchases

Question 2

average cost cogs

Answer 2

1 - goods avail $$/goods avail units= avg #
2- units of sales X #avg

Question 3

average cost ending inventory

Answer 3

1- ending units (goods avail- sale) X avg #

Question 4

FIFO cogs

Answer 4

(beg inven X cost) + (first purch X cost ) + (sales- beg in +1st purchase X unit cost second purchase)

Question 5

FIFO ending

Answer 5

goods avail- fifo cogs

Question 6

LIFO cogs

Answer 6

(2nd purch X cost) + (first purch X cost ) + (sales- 1st +2nd purch X beg unit cost)

Question 7

LIFO ending

Answer 7

goods avail- Lifo cogs