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Husky Lead has had the following inventory entries in the month of December. Beginning Inventory 1000 units @ $10 each Dec. 1 Purchased 3,000 units
Husky Lead has had the following inventory entries in the month of December.
Beginning Inventory 1000 units @ $10 each
Dec. 1 Purchased 3,000 units @ $15 each
Dec. 5 Purchased 4,000 units @ $20 each
Dec 12 Purchased 6,000 units @ 30 each
Dec 20 Purchased 12,000 units @ 28 each
Sold 3,000 units on Dec. 7 for $100 each
Sold 6,000 units on Dec. 14 for $350 each
- Using FIFO Perpetual determine the cost of goods sold for HUSKY Lead.
- Using LIFO Perpetual determine the cost of goods sold for HUSKY Lead.
- Using FIFO Periodic determine ending inventory.
- Using Weighted Average periodic determine the gross margin for Husky.
- Determine the Cost of Goods Available for Husky.
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