Inventory Valuation Methods (FIFO, LIFO) - Higher Difficulty Problems
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Q. A company has 100 units of inventory purchased at $5 each and 50 units purchased at $8 each. If it sells 80 units using FIFO, what is the ending inventory value?
Q. A company has 150 units at $30 and 100 units at $35. If it sells 120 units using FIFO, what is the ending inventory value?
Q. A company has 200 units of inventory at $10 each and 300 units at $15 each. If it sells 250 units using LIFO, what is the ending inventory value?
Q. A company has 500 units at $10 each and 300 units at $12 each. If it sells 400 units using LIFO, what is the cost of goods sold?
Q. A company has the following inventory purchases: 50 units at $10, 100 units at $12, and 150 units at $15. If it sells 200 units using FIFO, what is the cost of goods sold?
Q. A company uses the FIFO method for inventory valuation. If the oldest inventory costs $10, $12, and $15, and the company sells 2 units, what is the cost of goods sold?
Q. If a company has 100 units at $20 and 200 units at $25, and sells 150 units using FIFO, what is the cost of goods sold?
Q. If a company sells 150 units of inventory using LIFO, with the most recent purchases at $10, $12, and $15, what is the total cost of goods sold?
Q. Using the LIFO method, if a company has inventory costs of $20, $25, and $30, and sells 2 units, what is the cost of goods sold?
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