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Hemming Co. reported the following current-y r purcheses and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jon.
Hemming Co. reported the following current-y r purcheses and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jon. 1 Beginning inventory 155 units e $12.20 1891 Jan. 10 Sales 145 units $42.20 305 units $1720 5,246 Mar. 14 Purchase Mor 15 Soles 195 units $42.20 455 units $22.20 10101 July 30 Purchase 245 units $42.20 Oct. 5 Sales 655 units $2720 17,816 Oct. 26 Purchase 1,570 units $35,054 585 units Totals Required: Hemming uses a perpetual inventory system. 5.00 points Determine the costs assigned to ending inventory and to cost of goods sold using FlFO. Perpetual FIFO: Goods Purchased Cost of Goods Sold Balance Cost per units Cost per cost of Goods unit of sold unit Sold of Cost per Inventory Date of units units unit Balance January 1 155 S 12.20 1,891.00 January 10 March 14 March 15 July 30 October 5 October 26 Totals
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