Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer question 1 and 13 please Question Completion Status: QUESTION 1 A company had inventory on November 1 of 22 units at a cost of

Answer question 1 and 13 please image text in transcribed
image text in transcribed
Question Completion Status: QUESTION 1 A company had inventory on November 1 of 22 units at a cost of $26 each. On November 2, the purchased 27 units at $27 each. On November 6, they purchased 23 units at $28 each. On November 8, 25 units were sold for $38 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale? $1,304 $1,269 O $1,271 $1,222 $1,247 QUESTION 2 A company has inventory of 22 units at a cost of $15 each on August 1. on August 5, they purchased 17 units at $13 per unit. On August 12, they purchased 27 units at $28 per unit. On August 15, they after the unite Icing 44 tha sold EIEo nernatual inventory method, what is the value of the inventory on August 15

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

1.what is the significance of Taxonomy ?

Answered: 1 week ago

Question

What are the advantages and disadvantages of leasing ?

Answered: 1 week ago

Question

Name is needed for identifying organisms ?

Answered: 1 week ago