Question
A) Silkie Company has the following data related to an item of inventory: Inventory, March 1 135 units @ $2.26 each Purchase, March 7 250
A) Silkie Company has the following data related to an item of inventory:
Inventory, March 1 | 135 units @ $2.26 each |
Purchase, March 7 | 250 units @ $2.4 each |
Sale, March 28 | 160 units @ $4.00 each |
Purchase, March 29 | 70 units @ $2.50 each |
Using FIFO perpetual, what is the value of ending inventory?
B)
Abysinnian Company has the following data related to an item of inventory:
Inventory, March 1 | 135 units @ $2.2 each |
Purchase, March 7 | 250 units @ $2.39 each |
Sale, March 28 | 160 units @ $4.00 each |
Purchase, March 29 | 70 units @ $2.50 each |
Using FIFO periodic, what is the value of ending inventory?
C)
Peruvian Company has the following data related to an item of inventory:
Inventory, March 1 | 100 units @ $2.10 each |
Purchase, March 7 | 350 units @ $2.76 each |
Sale, March 28 | 150 units @ $4.00 each |
Purchase, March 29 | 50 units @ $2.50 each |
Using LIFO perpetual, what is the value of cost of goods sold?
D)
Teddy Company has the following data related to an item of inventory:
Inventory, March 1 | 100 units @ $2.10 each |
Purchase, March 7 | 350 units @ $2.07 each |
Sale, March 28 | 150 units @ $4.00 each |
Purchase, March 29 | 50 units @ $2.50 each |
Using LIFO perpetual, what is the value of ending inventory?
E)
Texel Company has the following data related to an item of inventory:
Inventory, March 1 | 100 units @ $2.10 each |
Purchase, March 7 | 350 units @ $2.32 each |
Sale, March 28 | 150 units @ $4.00 each |
Purchase, March 29 | 50 units @ $2.50 each |
Using Moving Average (perpetual) what is cost of goods sold?
I am struggling so bad please help and explain. Thank you.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started