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1, JB Adams Inc. had the following purchase transactions in May Date of Purchase Number of Units Cost per Unit Total Cost May 5 500
1, JB Adams Inc. had the following purchase transactions in May
Date of Purchase | Number of Units | Cost per Unit | Total Cost |
May 5 | 500 | $4 | $2,000 |
May 10 | 700 | $6 | $4,200 |
May 15 | 400 | $4.50 | 1,800 |
Adams sells 800 units on May 30 and uses the LIFO method of inventory costing. What is Adams' ending Inventory?
a, 3800
b, 2000
c, 3600
d,1600
2,
JB Adams Inc. had the following purchase transactions in May
Date of Purchase | Number of Units | Cost per Unit | Total Cost |
May 5 | 500 | $4 | $2,000 |
May 10 | 700 | $6 | $4,200 |
May 15 | 400 | $4.50 | 1,800 |
Adams sells 800 units on May 30 and uses the Weighted Average method of inventory costing. What is Adams' Cost of Goods Sold?
a. 4,000
b. 3,800
c. 4,200
d. 3,200
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