Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

can you fix the two boxes that are ref for average cost Oriole Company had a beginning inventory of 115 units of Product RST at

can you fix the two boxes that are ref for average cost
image text in transcribed
image text in transcribed
Oriole Company had a beginning inventory of 115 units of Product RST at a cost of $ 7 per unit. During the year, purchases were: Feb. 20 660 $8 Aug. 12 430 units at $ 10 units at units at May 5 520 $9 Dec. 8 115 units at $11 Oriole uses a periodic inventory system. Sales totaled 1,600 units. Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (HIF average-cost). (Round answers to decimal places, eg. 150.) FIFO LIFO AVERAGE-COST $ $ $ 1805 1125 2515 The ending inventory $ $ 14400 $ $ 14525 The cost of goods sold 13815

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Advanced Accounting

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

14th Edition

1260247821, 978-1260247824

Students also viewed these Accounting questions

Question

What is management growth? What are its factors

Answered: 1 week ago