Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. facts Unit cost quantity value Inventory at beginning purchases purchases purchases Final inventory 600 900 1000 800 700 12.00 12.90 12.50 12.70 $7,200 $11,610

image text in transcribed
1. facts Unit cost quantity value Inventory at beginning purchases purchases purchases Final inventory 600 900 1000 800 700 12.00 12.90 12.50 12.70 $7,200 $11,610 $12,500 $10,160 Calculate the value of the Inventory. Use the Fifo, LiFo and Weighted Average methods. FI-FO quantity unit cost LI-FO value quantity Unit cost value WA 2. Determine the cost of what is sold. Inventory at the beginning $ 5000. Purchases for $ 60,000 Inventory at the end $ 4,000. Sales during the period $ 90,000 3. PURA Corp Purchased a donut machine for $ 5,900 with a manufacturing capacity of 200,000 units. In the first year it produced 38,000 donuts, 36,000 donuts the second year, and 46,000 in the third year. Use the production units method; calculate the inventory cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions