Business, 02.11.2019 05:31 elishane864

Aiello, inc. had the following inventory in fiscal 2016.

beginning inventory, january 1, 2016: 130 units @ $15.00
purchase 200 units @ $18.00
purchase 50 units @ $13.50
purchase 110 units @ $15.75

total units sold during the month is 370.

a) compute the company’s cost of goods sold and ending inventory for fiscal 2016 assuming the company used fifo

b) compute the company’s cost of goods sold and ending inventory for fiscal 2016 assuming the company used lifo methods of accounting for inventory

c) calculate the lifo reserve that would be reported in the company's books if using lifo.

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Aiello, inc. had the following inventory in fiscal 2016.

beginning inventory, january 1,...

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