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Carstow uses the periodic inventory method. (In the periodic method it is assumed that all sales occur the last day of the accounting period -
Carstow uses the periodic inventory method. (In the periodic method it is assumed that all sales occur the last day of the accounting period - or after all purchases during the period.) Carstow had the following inventory transactions in May, of the current year. On May 1, Carstow had 250 units in inventory that cost $8 each. On May 14, Carstow purchased 800 units at $10 each. On May 20, Carstow purchased 60 units at $13 each. On May 24, Carstow purchased 110 units at $14 each. Carstow sold 840 units on May 28th for $28 each. #1 Compute the Weighted Average cost per unit:_________________(round to nearest PENNY) #2 Compute COGS under Weighted Average:___________(round to the nearest DOLLAR) #3 Compute El under Weighted Average:___________________(round to the nearest DOLLAR) Type just the number for your answer with no dollar signs or commas. (For #1 do use a period as you rounding to the nearest penny.) Carstow uses the periodic inventory method. (In the periodic method it is assumed that all sales occur the last day of the accounting period - or after all purchases during the period.) Carstow had the following inventory transactions in May, of the current year. On May 1, Carstow had 250 units in inventory that cost $8 each. On May 14, Carstow purchased 800 units at $10 each. On May 20, Carstow purchased 60 units at $13 each. On May 24, Carstow purchased 110 units at $14 each. Carstow sold 840 units on May 28th for $28 each. #1 Compute COGS under LIFO:_____________#2 Compute El under LIFO:_________Type just the number for your answer with no dollar signs or commas. Carstow uses the periodic inventory method. (In the periodic method it is assumed that all sales occur the last day of the accounting period - or after all purchases during the period.) Carstow had the following inventory transactions in May, of the current year. On May 1, Carstow had 250 units in inventory that cost $8 each. On May 14, Carstow purchased 800 units at $10 each. On May 20, Carstow purchased 60 units at $13 each. On May 24, Carstow purchased 110 units at $14 each. Carstow sold 840 units on May 28th for $28 each. #1 Compute COGS under FIFO:___________#2 Compute El under FIFO:_________Type just the number for your answer with no dollar signs or commas
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