Photos are intended for general color reference only. Refer to Color Chart for actual color samples. Hawthorne Starfire Acrylic Urethane Auto Paint is a premium quality, single-stage OEM/Refinishing System which provides excellent gloss and durability in an easy to apply economical single-stage package.
Different cost of goods sold and inventory values us ually result from different cost flow assumptions. During periods of rising prices, FIFO produces lower cost of goods sold, higher ending inventory, and. higher gross profit (and income) than LIFO because FIFO includes the oldest and lowest costs in cost.
Inventory turnover ratio is computed by dividing the cost of goods sold by average inventory at cost. Two components of the formula of inventory turnover ratio are cost of goods sold and average inventory at cost. Cost of goods sold is equal to cost of goods manufactured (purchases for trading company) plus opening inventory less closing inventory.