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question broachead company uses a perlodic inventory system at the end of the annual 4280916

Question

Broachead Company uses a perlodic Inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following Information for product 2: Units Unit Cost Inventory. December 31, prior year For the current year 2.990 $13 Purchase, April 11 Purchase, June 1 Sales ($57 each) Operating expenses (excluding income tax expense) 8.900 7.900 10,830 16 $191,500 value 1.00 points Required 1. Prepare a separate income statement through pretax income that details cost of goods sold for (a) Case A: FIFO and (b) Case B: LIFO BROADHEAD COMPAN Income Statement For the Year Ended December 31, current year Case A FIFO Case B LIFO Cost of goods sold Goods available for sale Cost of goods sold

 

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