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Category > Accounting Posted 15 May 2017 My Price 6.00

‘The following information for Quadrado Corporation relates

 

‘The following information for Quadrado Corporation relates to the three-month period ending September 30, 2015.

Quadrado expects to purchase 150,000 units of inventory in the fourth quarter of 2015 at a cost of $15 per unit, and to have on hand 30,000 units of inventory at year-end. Quadrado uses the last-in, first-out (LIFO) method to account for inventory costs. Determine the cost of goods sold and gross profit amounts to record for the three months ending September 30, 2015. Prepare journal entries to reflect these amounts.

 

 

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 15 May 2017 01:05 PM My Price 6.00

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file 1494856156-Answer.docx preview (160 words )
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