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Business, 17.12.2019 03:31 vanessafalcon1198
The reuschel company began 2018 with inventory of 10,000 units at a cost of $7 per unit. during 2018, 50,000 units were purchased for $8.50 each.
sales for the year totaled 54,000 units leaving 6,000 units on hand at the end of 2018. reuschel uses a periodic inventory system and the lifo inventory cost method. required:
1. calculate cost of goods sold for 2018.
2. calculate the effect of the lifo on the income.
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Answers: 1
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The reuschel company began 2018 with inventory of 10,000 units at a cost of $7 per unit. during 2018...
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