Yahoo Answers is shutting down on 4 May 2021 (Eastern Time) and, as of 20 April 2021 (Eastern Time), the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Hi, I need help with LIFO: ending inventory and COGS - thank you! ?

Daniel Company uses a periodic inventory system. Data for the current year: beginning merchandise inventory (ending inventory December 31, prior year), 2,100 units at $37; purchases, 7,930 units at $39; expenses (excluding income taxes), $192,800; ending inventory per physical count at December 31, current year, 1,660 units; sales, 8,370 units; sales price per unit, $79; and average income tax rate, 30 percent.

2 Answers

Relevance
Still have questions? Get answers by asking now.