Question

ACCOUNTING QUESTIONS

Answer 1

@juanitam

Answer 2

i feel like i know how to do this but so far i have not been getting correct answers

Answer 3

i have the ending inventories for LIFO & FIFO for the first problem (link 1)

Answer 4

@Callisto you there?

Answer 5

when i was in the half way, i realised that i don't know what LIFO & FIFO are.. Sorry can't help :(

Answer 6

FIFO=First in, first out
LIFO=Last in, first out
when it comes to inventory

Answer 7

what are the things that you don't understand?

Answer 8

cant seem to get the cost of goods sold for LIFO & FIFO in the first link

Answer 9

cost of goods sold = opening inventory + purchase - Closing inventory

Answer 10

the different answer is because of the difference in closing inventory

Answer 11

i think i figured it out

Answer 12

great! sorry that i couldn't help :(

Answer 13

it's ok. accounting is complicated. i'm only taking it because it's required.

Answer 14

i took it because someone persuaded me to :(

Answer 15

if i wasn't required to take it, i would NEVER take it. EVER. haha