(Answered) In 2013 mandrake motorcycles declared bankruptcy

Accounting

In 2013, Mandrake Motorcycles declared bankruptcy. Subsequently, it was determined that in fiscal 2012, the company produced more units than needed to fill pending orders. The result was a substantial decrease in production cost per unit. The company uses the LIFO inventory method.

Required:

Discuss how (or if) this information is consistent with the results of the analysis conducted in Problem, parts a and b.

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Mandrake Motorcycles

Income Statements

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Mandrake Motorcycles was started three years ago. The company manufactures and sells classic cycles similar in style to Harley-Davidson and Indian motorcycles made in the late 1940s. The following financial information for the company.

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