Confidence votes 169. Invictus, meaning unconquerable or undefeated in Latin, is a poem by William Ernest Henley. The poem was written while Henley was in the hospital being treated for tuberculosis of the bone, also known as Pott's disease.
separate your inventory cost from the total price on your inventory invoice the inventory cost includes the costs for the items you purchased without consideration of taxes shipping or delivery your inventory cost is also referred to as the list price determine the sales tax you paid for the inventory in general the sales tax is listed at the bottom of your invoice debit your inventory account with the amount of your inventory cost entering the amount as a debit or negative figure results in an increase to the book value of your inventory
Thus, the end result is ending inventory, when you extend it all out, of $5000. See the text. The Cost of goods sold is simply $12,000 less the ending inventory of $5000, or $7000. You proved your CGS calculation by calculating the amount sold, by going from the newest back, or 400 @13 + 150 @12= 7000.