REFERENCE: Ref.08_15
The following information for Urbanski Corporation relates to the three months ending June 30,2009:
Urbanski uses the LIFO method to account for inventory,and expects at least 15,000 units to be on hand in the ending inventory at year-end.Purchases made in the last six months are expected to cost an average of $18 per unit.
-Compute cost of goods sold and gross profit for the quarter ending June 30,2009.

Question

REFERENCE: Ref.08_15
The following information for Urbanski Corporation relates to the three months ending June 30,2009:
  Urbanski uses the LIFO method to account for inventory,and expects at least 15,000 units to be on hand in the ending inventory at year-end.Purchases made in the last six months are expected to cost an average of $18 per unit.
-Compute cost of goods sold and gross profit for the quarter ending June 30,2009.

Quizplus · Accepted Answer

The Answer of REFERENCE: Ref.08_15
The following information for Urbanski Corporation relates to the three months ending June 30,2009:
  Urbanski uses the LIFO method to account for inventory,and expects at least 15,000 units to be on hand in the ending inventory at year-end.Purchases made in the last six months are expected to cost an average of $18 per unit.
-Compute cost of goods sold and gross profit for the quarter ending June 30,2009.

REFERENCE: Ref.08_15 The Following Information for Urbanski Corporation Relates to the Three