ancial Accounting - 61876 Jaenny Bermudez & 11/30/19 8:00 PM omework: Week 5: Homework : 0 of 10 pts E6-31B (similar to) 2 of 4 complete HW Score: 11.3%, 5.09 of 45 pts 1 Requirements Tond Company's inventory records for its retail division show the following at July 31: Click the icon to view the accounting records) y 31, 11 of these units are on hand the autrements airement 1. Compute cost of goods sold and ending inventory, using each of the following four inventory methods by entering the number of units sold and number of unitsin ending inventory. Then calculate cost of goods sold and ending in (Round the average cost per unit to the nearest cont Hound all hinalawwers to the nearest Whole dollar) Number (b) of units Specific identification Average cost of goods sold 16 5 2,735 og inventory 11 $ 1,855 1. Compute cost of goods sold and ending inventory using each of the following memods: Specific identification, with seven $106 uns and four $175 uni on hand at the end b. Average cost 4. FIFO d. LIFO 2. Which method produces the highest cost of goods sold Which method produces the lowest cost of goods sold? What causes the difference in cost of goods sold? a) Print Done Jul 1 Beginning inventory... 9 units @ $ 165 - $ 1,485 15 Purchase 5 units 106 $ 830 ......... 13 units 175 - $ 2,275 Print Done any number in the edit fields and then click Check Answer. Clear All Check Answer aining ancial Accounting - 61876 Jaenny Bermudez & 11/30/19 8:00 PM omework: Week 5: Homework : 0 of 10 pts E6-31B (similar to) 2 of 4 complete HW Score: 11.3%, 5.09 of 45 pts 1 Requirements Tond Company's inventory records for its retail division show the following at July 31: Click the icon to view the accounting records) y 31, 11 of these units are on hand the autrements airement 1. Compute cost of goods sold and ending inventory, using each of the following four inventory methods by entering the number of units sold and number of unitsin ending inventory. Then calculate cost of goods sold and ending in (Round the average cost per unit to the nearest cont Hound all hinalawwers to the nearest Whole dollar) Number (b) of units Specific identification Average cost of goods sold 16 5 2,735 og inventory 11 $ 1,855 1. Compute cost of goods sold and ending inventory using each of the following memods: Specific identification, with seven $106 uns and four $175 uni on hand at the end b. Average cost 4. FIFO d. LIFO 2. Which method produces the highest cost of goods sold Which method produces the lowest cost of goods sold? What causes the difference in cost of goods sold? a) Print Done Jul 1 Beginning inventory... 9 units @ $ 165 - $ 1,485 15 Purchase 5 units 106 $ 830 ......... 13 units 175 - $ 2,275 Print Done any number in the edit fields and then click Check Answer. Clear All Check Answer aining
