Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Events related to the buy and sale of goods in January 2020 of BLN company are as follows: Date Process Amount Unit Price Amount January

Events related to the buy and sale of goods in January 2020 of BLN company are as follows:

Date

Process

Amount

Unit Price

Amount

January 1

Stock

20

40.000,00

800.000,00

January 7

Sell

8

60.000,00

480.000,00

January 15

Buy

20

45.000,00

900.000,00

January 20

Sell

10

60.000,00

600.000,00

January 30

Sell

15

65.000,00

975.000,00

Calculate the amount of gross profit as of the end of January, assuming that the business uses the continuous inventory method;

a) calculate according to the moving weighted average cost method.

b) calculate according to the first-in-first-out (FIFO) method.

c) calculate according to the last input first output (LIFO) method.

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

Strategic Cost Analysis

Authors: Roger Hussey

1st Edition

160649239X, 9781606492390

More Books

Students also viewed these Accounting questions

Question

Let x = 10, y = 3, and z = 8. Write the ratio in simplest form. Z:X

Answered: 1 week ago

Question

1. Background knowledge of the subject and

Answered: 1 week ago

Question

2. The purpose of the acquisition of the information.

Answered: 1 week ago