ABC firm has the next report for stock: June1.
ABC firm has the next report for stock: June1. starting stock was 14 models @ $42, a purchase order was made for June 2 for four models @$69, a sale was made made June 7 for 7 models @ $111, and a last sale was made on June 13 for five models @ $111.
What quantities ought to the corporate report for ending stock and COGS offered below FIFO and LIFO strategies?
Which might outcome within the lowest web earnings and tax if every thing else is equal?
How did you identify the strategy that will outcome within the lowest web earnings and tax?
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