Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 20

T-Shirt City uses a periodic inventory system.uring the first year of operations, the company made four purchases of a particular product.ach purchase was for 500 units and the prices paid were $9 per unit in the first purchase, $10 per unit in the second purchase, $12 per unit in the third purchase, and $13 per unit in the fourth purchase.t year-end, 650 of these units remained unsold.ompute the cost of goods sold under the FIFO method and LIFO method, respectively.
a.13,700 (FIFO) and $16,000 (LIFO).
b.8,300 (FIFO) and $6,000 (LIFO).
c.16,000 (FIFO) and $13,700 (LIFO).
d.6,000 (FIFO) and $8,300 (LIFO).