Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

d Store Imported From IE & Amazon.com: NIFT... Imported From IE (1) Sved am 0 y Or HOLE Units sold at Retail this equired at

image text in transcribed

d Store Imported From IE & Amazon.com: NIFT... Imported From IE (1) Sved am 0 y Or HOLE Units sold at Retail this equired at Cost 220 units $14.50 - $3,190 170 units $23.50 Jan 1 Beginning inventory la 10 Sales Jan. 20 Purchase Jan 25 Sales 170 units@ $13.50 - 2,295 200 units @ $23.50 340 units $13.00 = 4,420 730 units $9,90s Totals 370 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 340 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification 2 Determine the cost assigned to ending inventory and to cost of goods sold using weighted average 3. Determine the cast assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO. Complete this questions by entering your answers in the below tabs. Required Reguda Regutred 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification Specific location Available for Sale Cost of Goods Sold Units Sold Cost COGS Unit Cost Units Ending Inventory Ending Cost Per Ending Inventory Unit Inventory Units Cost Unit Beginning 220 170 340 730 $ Femi

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

Students also viewed these Accounting questions