Electronic Goods Inc. calculated its cost of goods sold (COGS) for April 2020 using different inventory costing methods. It had 100 units in beginning inventory valued at $40 each, sold 400 units, and had 200 units in ending inventory. The company purchased mobile phone batteries throughout the month at varying prices from $40 to $50 per unit.
Electronic Goods Inc. calculated its cost of goods sold (COGS) for April 2020 using different inventory costing methods. It had 100 units in beginning inventory valued at $40 each, sold 400 units, and had 200 units in ending inventory. The company purchased mobile phone batteries throughout the month at varying prices from $40 to $50 per unit.
Electronic Goods Inc. calculated its cost of goods sold (COGS) for April 2020 using different inventory costing methods. It had 100 units in beginning inventory valued at $40 each, sold 400 units, and had 200 units in ending inventory. The company purchased mobile phone batteries throughout the month at varying prices from $40 to $50 per unit.
Month Period : April-20 Beginning Inventory : 100 unit COGS (USD) Beginning Inventory Price (USD) : 40.00 FIFO Sold Unit : 400 unit Average Ending Inventory : 200 unit LIFO