Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At December 31, 2019 CROWD Co. has the following inventory information for 2019. Date Beginning Inventory Purchases: CROWD Co. Units 100 $ S/Unit 5,25 S/Total

image text in transcribed
At December 31, 2019 CROWD Co. has the following inventory information for 2019. Date Beginning Inventory Purchases: CROWD Co. Units 100 $ S/Unit 5,25 S/Total 525,00 Jan. 3 300 5,30 1.590,00 1 June 20 150 5,60 840,00 Sept. 15 200 5,80 1.160,00 150 5,90 Nov. 29 Goods Available for Sale 885.00 2 2 Ending Inventory 350 Cost of Goods Sold Required: The company is using periodic inventory method and FIFO. Calculate the following indicated as ? in the above table: a) Goods available for sale in number of units b) Value (S amount) of goods available for sale Ending inventory in number of units Value (S amount) of ending inventory Cost of good sold in number of units Value (S amount) of COGS (answers without detail computation will not be considered)

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

Access Audit Handbook

Authors: Alison Grant

1st Edition

1859461778, 978-1859461778

More Books

Students also viewed these Accounting questions

Question

d. How were you expected to contribute to family life?

Answered: 1 week ago