contestada

A company's inventory records report the following in November of the current year: Beginning November 1 5 units @ $20 Purchase November 2 10 units @ $22 Purchase November 12 6 units @ $25 On November 8, it sold 12 units for $54 each. Using the LIFO perpetual inventory method, what amount of gross profit was earned from the 12 units sold?

Respuesta :

facundobuzzetti

Answer:

Gross profit= $388

Explanation:

Giving the following information:

Beginning November 1: 5 units at $20

Purchase November 2: 10 units at $22

Purchase November 12: 6 units at $25

On November 8, it sold 12 units for $54 each.

LIFO (last-in, first-out)

COGS= 10*22 + 2*20= $260

Gross profit= 12*54 - 260= $388

Otras preguntas