Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hi all, I have three assignments for my accounting class. Please help. Problem 7-5, page 275. Submit your assignment in MS Word or MS Excel.
Hi all,
I have three assignments for my accounting class. Please help.
Problem 7-5, page 275. Submit your assignment in MS Word or MS Excel.
Exercise 8-1, page 302.Submit your assignment in MS Word or MS Excel.
Exercise 10-6, page 363.Submit your assignment in MS Word or MS Excel.
Please find attachments for the problems
Scanned by CamScanner Scanned by CamScanner Scanned by CamScanner purchases sales uniits price date units price 5-Jan 6000 18.00 10-Jan 4000 31-Mar 18000 21.60 2-Apr 15000 12-Aug 12000 27 22/8 16000 24/12 6000 28.8 26/12 3000 date 28.8 32.4 36 39.6 inventory valuation under FIFO DR CR. DATE UNITS PRICE TOTAL DATE UNITS 5-Jan 6000 18.00 108,000.00 10-Jan 31-Mar 18000 21.60 388,800.00 2-Apr 12-Aug 12000 27 324,000.00 2-Apr 24/12 6000 28.8 172,800.00 22-Aug 22-Aug ending inventory 42,000.00 b) 993,600.00 PRICE 4000 2000 13000 5000 11000 1000 2000 4000 42,000.00 28.80 32.40 32.40 36.00 36.00 39.60 39.60 34.11 278.91 LIFO purchases date units price TOTAL date 5-Jan 6000 18.00 108,000.00 24/12 31-Mar 18000 21.60 388,800.00 12-Aug 12000 27 324,000.00 24/12 6000 28.8 172,800.00 units ending invent 42000 993,600.00 weighted average method, WAM purchases date units price TOTAL date 5-Jan 6000 18.00 108,000.00 31-Mar 18000 21.60 388,800.00 12-Aug 12000 27 324,000.00 price 3000 3000 12000 1000 15000 3000 1000 4000 39.6 36 36 36 32.4 28.8 28.8 34.11 42000 PERPETUAL units price 4000 15000 16000 28.8 32.4 36 24/12 6000 28.8 172,800.00 ending invent 42000 993,600.00 23.66 3000 39.6 4000 23.66 42000 TOTAL 115,200.00 64,800.00 421,200.00 180,000.00 396,000.00 39,600.00 79,200.00 136,440.00 1,432,440.00 Total 118800 108000 432000 36000 486000 86400 28800 136440 1432440 Total 115200 486000 576000 223,200.00 118800 94640 1390640 8-1 A. FALSE B.TRUE C.FALSE D.FALSE E.TRUE F. FALSE G. FALSE H. TRUEStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started