Question

Using FIFO, the cost of goods sold for the sale of 23 units on July 31 and the inventory balance at July 31 is _____.Using LIFO, the cost of goods sold for the sale of 23 units on July 31 and the inventory balance at July 31 are _____.Using weighted average, the cost of goods sold for the sale of 23 units on July 31 and the inventory balance at July 31 are _____.

Answer 1

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.