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ANSWER ALL QUESTIONS FOR 5 STAR REVIEW PLEASE AND THANK YOU!!!!!! Question #1 - Andre Company uses a periodic inventory system. For April, when the
ANSWER ALL QUESTIONS FOR 5 STAR REVIEW PLEASE AND THANK YOU!!!!!!
Question #1 -
Andre Company uses a periodic inventory system. For April, when the company sold 420 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 240 $13 $ 3,120 April 15 purchase 440 16 7,040 April 23 purchase 320 17 5.440 1,000 $15,600Compute the April 30 inventory and the April cost of goods sold using the average-cost method. Ending inventory $ Cost of goods sold $Tenk Company uses a periodic inventory system. For April, when the company sold 540 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 220 $25 $ 5,500 April 15 purchase 380 30 11,400 April 23 purchase 400 33 13,200 1,000 $30,100 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory to Cost of goods sold toHolla Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 280 $17 $ 4,760 April 15 purchase 420 20 8,400 April 23 purchase 300 22 6,600 1,000 $19,760 Compute the April 30 inventory and the April cost of goods sold using the LIFO method. Ending inventory to Cost of goods sold $Vada Company uses the LIFO periodic method for financial reporting purposes but FIFO for internal reporting purposes. At January 1, 2025, the LIFO reserve has a credit balance of $1,591,200. At December 31, 2025, Vada's internal reports indicated that the FIFO inventory balance was $3,129,500 and for external reporting purposes the LIFO inventory balance was $1,447,600. (a1) What is the amount of the LIFO reserve and the LIFO effect related to 2025? LIFO reserve at December 31, 2025 $ LIFO effect for 2025 $Step by Step Solution
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