Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 28 Jul 2017 My Price 3.00

Championship Sporting Goods

S6-3 (Learning Objective 2: Apply the average, FIFO, and LIFO methods) Championship Sporting Goods started March with an inventory of 9 sets of golf clubs that cost a total of $1,350. During March, Charmpionship purchased 27 sets of clubs for $4,320. At the end of the month, Championship had 8 sets of golf clubs on hand. The store manager must select an inventory costing method, and he asks you to tell him both cost of goods sold and ending inventory under these three accounting methods:

a.    Average cost (round average unit cost to the nearest cent)

b.   FIFO

c.    LIFO

Answers

Maurice Tutor
(5)
Status NEW Posted 28 Jul 2017 10:07 PM My Price 3.00

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