Inventory records for Dunbar Incorporated revealed the following:

Date Transaction Number

of Units Unit

Cost

Apr. 1 Beginning inventory 530 $2.37

Apr. 20 Purchase 310 2.50

Dunbar sold 640 units of inventory during the month. Cost of goods sold assuming LIFO would be

Question

Business

Emanuel Frederick

6 May, 07:51

Inventory records for Dunbar Incorporated revealed the following:

Date Transaction Number

of Units Unit

Cost

Apr. 1 Beginning inventory 530 $2.37

Apr. 20 Purchase 310 2.50

Dunbar sold 640 units of inventory during the month. Cost of goods sold assuming LIFO would be

+2

Answers (1)

Know the Answer?

Whitney Woods · Answer 1

Cost of goods sold assuming LIFO would be $474

Explanation:

Date Q U. cost Cost Sold Inventory Cost

april 1 530 2,37 1256,1 330 200 474

apri 20 310 2,5 775 310 0 0

640

Inventory records for Dunbar Incorporated revealed the following:Date Transaction Numberof Units UnitCostApr. 1 Beginning inventory 530 $2.37Apr. 20 Purchase 310 2.50Dunbar sold 640 units of inventory during the month. Cost of goods sold assuming LIFO would be

Inventory records for Dunbar Incorporated revealed the following:

Date Transaction Number

of Units Unit

Cost

Apr. 1 Beginning inventory 530 $2.37

Apr. 20 Purchase 310 2.50

Dunbar sold 640 units of inventory during the month. Cost of goods sold assuming LIFO would be