Question
Financial Accounting. Please answer all ASAP. Please fill in the blank and answer the questions. The company uses the first-in-first-out (FIFO) method to determine the
Financial Accounting. Please answer all ASAP. Please fill in the blank and answer the questions.
The company uses the first-in-first-out (FIFO) method to determine the cost of inventory at the end. If the business also uses a perpetual inventory system, calculate the value of inventory as of December 31, 2030.
NB. : Use the above table to prepare your answer.
Answer 2:
| Units | Unit Cost ($) | Total Value |
31 dcember 2029 | 36 000 | 60,00 |
|
Purchases |
|
|
|
10 fbruary | 12 000 | 61,25 |
|
7 april | 24 000 | 61,50 |
|
25 july | 39 000 | 64,00 |
|
6 october | 9 000 | 63,50 |
|
4 november 2030 | 18 000 | 63,75 |
|
Total | 138 000 | 62,25 |
|
|
|
|
|
Sales | Units |
|
|
5 january 2030 | 12 000 |
|
|
6 march | 29 000 |
|
|
14 july | 21 000 |
|
|
10 august | 24 000 |
|
|
8 september | 21 000 |
|
|
3 dcember 2030 | 20 000 |
|
|
Total sales | 127 000 |
|
|
final stock |
|
|
|
3. Inventories are presented at their net realizable value in the statement of financial position. True or false? Answer #3:Please fill in the blank and answer the questions. 1. purchases and sales of stocks of SECIIM INC. for the year ended December 31,2030 : Weighted average cost method is used to determine the cost of inventory at the end. If it uses a perpetual inventory system, calculate the value of inventory as of December 31,2030 (Use the table above). Answer 1: 2. purchases and sales of stocks of SERIM 3000 INC. for the year ended +December 31, 2030: Document1 - Word (Product Activation Failed) TABLE TOCLS qDecember 31, 2030 : \begin{tabular}{|l|l|l|l} \hline & Units & Unit costs (\$) & Total Value \\ \hline 31 dcember 2029 & 36000 & 60,00 & \\ \hline Purchases & & & \\ \hline 10 fbruary & 12000 & 61,25 & \\ \hline 7 april & 24000 & 61,50 & \\ \hline 25 july & 39000 & 64,00 & \\ \hline 6 october & 9000 & 63,50 & \\ \hline 4 november 2030 & 18000 & 63,75 & \\ \hline Total & 138000 & 62,25 & \\ \hline & & & \\ \hline Sales & Units & & \\ \hline 5 january 2030 & 12000 & & \\ \hline 6 march & 29000 & & \\ \hline 14 july & 21000 & & \\ \hline 10 august & 24000 & & \\ \hline 8 september & 21000 & & \\ \hline 3 dcember 2030 & 20000 & & \\ \hline Total sales & 127000 & & \\ \hline Final Stock & & & \\ \hline \end{tabular} PAGE 2 CF 3 45B WORDS ENGLISH (UNITED 5TATES)
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