1A
1B
At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $18.00 per unit: Transactions Units Amount Inventory, January 1 550 $1,980 Purchase, 680 January 12 3,808 Purchase, 130 988 January 26 Sale (410) Sale (200) Required: 1a. Assuming the use of a periodic inventory system, compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. 1b. Assuming the use of a periodic inventory system, prepare a partial income statement under each method of inventory: (a) average cost, (b) FIFO, (C) LIFO, and (d) specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. Required information Assuming the use of a periodic inventory system, compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. (Round unit price to 2 decimal places. Input all amounts as positive values.) Show less Cost of Good Average Cost of Goods Available for Cost Sold Sale Cost nc of Cost Cost # of Cost # of of Units per Good Unit Sold Sale Beginning inventory Purchases: January 12 January 26 Total Good Enits per Availa39 Unit for Units per Cost of Goods Cost of Goods FIFO Available for Sold Sale Cost of Cost # of Cost Goods, # of Cost of Units per Available Good Unit Soid Unit for Sold Sale Beginning inventory Purchases: January 12 January 26 Total Units per Cost of Goods Cost of Goods LIFO Available for Sold Sale Cost of Cost Cost # of Goods # of Cost of Units per Available Good Unit Soid Unit for Sold Sale Beginning inventory Purchases: January 12 January 26 Total Good Enits per Availa319 Unit Cost of Goods Specific Cost of Goods Available for Identification Sold Sale Cost of Cost Cost # of Cost # of of Units per Good Unit for Sold Sale Beginning inventory Purchases: January 12 January 26 Total Assuming the use of a periodic inventory system, prepare a partial income statement under each method of inventory: (a) average cost, (b) FIFO, (C) LIFO, and (d) specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. Show less DONNER COMPANY Partial Income Statement For the Month Ended January 31, Current Year (a) (b) (c) (d) Specific Cost Identifica Average FIFO LIFO
