Question
EA 9. LO 10.3 Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three
EA 9. LO 10.3 Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Beginning inventory Purchased Number of Units 800 Unit Cost $50 Sales 600 52 ET"; Sold 400 Sold Ending inventory 350 650 $80 90 EA 10. LO 10.3 Calculate the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG). Number of Units Unit Cost Sales Beginning inventory Purchased Sold ET": Sold Ending inventory EA 15. LO 10.4 Shetland Company reported net income on the year-end financial statements of $125,000. However, errors in inventory were discovered after the reports were issued. If inventory was understated by $15,000, how much net income did the company actually earn? PA 4. LO 10.3 Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG). Number of Units Unit Cost Beginning inventory Mar. 1. Purchased Mar. 8 110 $87 140 89 Sold Mar. 11 for $120 per unit 95
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