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A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Units 320 Unit Cost $ 3.00 80 100 3.20 3.34 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. (Round your per unit costs to 2 decimal places.) Purchase on January 25 Periodic FIFO Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance # of units Cost per unit Cost of Goods Available for # of units # of units sold Cost per unit Cost of Goods Sold Sale in ending inventory Cost per unit Ending Inventory 320 $ 3.00 $ 960 Beginning Inventory Purchases: January 9 80 3.20 January 25 100 3.34 Total 500 256 334 1,550 0 EA 0 0 $ 0 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 320 80 100 Unit Cost $ 3.00 3.20 3.34 ssume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on he LIFO method. (Round your per unit costs to 2 decimal places.) Beginning Inventory Purchases: January 9 January 25 Total Periodic LIFO Cost of Goods Available for Sale Cost of Goods Sold Inventory Balance Cost of Goods # of units # of units Cost per unit Available for # of units sold Cost per unit Cost of Goods Sold Cost per Ending Sale in ending inventory unit Inventory $ 0 0 EA 0 0 0 0 EA 0 0 $ 0 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 320 80 100 Unit Cost $ 3.00 3.20 3.34 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round per unit costs to 2 decimal places.) Beginning inventory Purchases: January 9 January 25 Total Weighted average - Periodic Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per Ending Inventory unit 0 $ 0 EA 0 EA 0
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