Question
3. (12 points) All-Pages Book Company reports the following inventory transactions during the current month. All-Pages uses the perpetual method for inventory. Date Event Number
3. (12 points) All-Pages Book Company reports the following inventory transactions during the current month. All-Pages uses the perpetual method for inventory.
Date |
Event | Number of Units | Unit Cost | Total Cost |
Dec. 1st | Beg. Inventory | 800 | $10 | $8,000 |
8th | Purchase | 600 | 11 | 6,600 |
13th 15th | Purchase Sale | 300 750 | 12 | 3,600
|
24th 28th | Purchase Purchase | 300 400 | 13 15 | 3,900 6,000 |
Dec.30th | Sale | 900 |
|
|
Required:
Calculate Cost of Goods Sold and Ending Inventory using the Weighted Average, FIFO, and LIFO inventory costing methods. Fill in the following table with DOLLAR AMOUNTS $$:
| Weighted Ave. Cost | FIFO | LIFO |
Ending Inventory |
|
|
|
Cost of Goods Sold |
|
|
|
Show work below:
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