Han Company uses the LIFO method of inventory valuation. For Year 10, cost of goods sold was $300,000. Beginning inventory was $50,000 and ending inventory was $80,000. If Han had used the FIFO method of inventory valuation, beginning inventory would have been $75,000 and ending inventory would have been $122,000. What would Han’s cost of goods sold in Year 10 have been if Han had used FIFO? Write the dollar amount of your answer.
The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.
Get Answers For Free
Most questions answered within 1 hours.