Beginning Inventory, Purchases and Sales Data for T-Shirts Are as Follows

question 156

Essay

Beginning inventory, purchases and sales data for T-shirts are as follows:
Assuming the business maintains a periodic inventory system, calculate the cost of merchandise sold and ending inventory under the following assumptions:
a. FIFO
b. LIFO
c. Average cost (round cost of merchandise sold and ending inventory to the nearest dollar)

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Definitions:

Internal-Unstable

This term is not standard; please provide context or it might be incorrect.

External-Unstable

An attributional style where individuals attribute their successes or failures to external, temporary factors.

Dispositional Attribution

The tendency to attribute someone's behavior to their disposition or personality rather than to external factors.

Defensive Attribution

A tendency to attribute more blame to the victims of accidents for their misfortune the more severe the accident was, often as a way to see the world as just and predictable.