The Ballorna Company made the following purchases of component LMS: The company completed two contracts, one on

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The Ballorna Company made the following purchases of component LMS: image text in transcribed

The company completed two contracts, one on 28 February, and the second on 11 March. Each used 600 units of component LMS.

Show the price that would be charged to each job using each of the following methods:

a FIFO;

b LIFO;

c weighted average.

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Accounting Understanding And Practice

ISBN: 9780077139131

4th Edition

Authors: Robert Perks

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Question Posted: May 22, 2024 02:02 AM

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The Ballorna Company made the following purchases of component LMS: The company completed two contracts, one on

Question:

Date Units purchased Cost price per unit Amount Total 11 Feb 500 20 10,000 10,000 17 Feb 200 22 4,400 14,400 21 Feb 300 24 7,200 21,600 25 Feb 400 23 9,200 30,800

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Accounting Understanding And Practice

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