Answered step by step
Verified Expert Solution
Question
1 Approved Answer
answer these 3 please Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta 9 are as follows: Oct. 1 Inventory 70 units
answer these 3 please
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta 9 are as follows: Oct. 1 Inventory 70 units @ $22 7 Sale 55 units 15 Purchase 47 units @ $23 24 Sale 21 units Assuming a perpetual Inventory system and using the first-In, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31. 3. Cost of goods sold on October 24 b. Inventory on October 31 Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: July 1 Inventory 98 units @ $25 Sale 78 units 15 Purchase 109 units @ $27 27 Sale 92 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on July 27 and (b) the inventory on July 31. a. Cost of goods sold on July 27 b. Inventory on July 31 Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 340 units at $11 13 Sale 180 units 22 Purchase 340 units at $12 29 Sale 400 units a. Assuming a perpetual Inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places, per unit b. Assuming a perpetual Inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places 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