Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need help E6-16.... additional info FIFO (23 times 900) + (45 times 1020) +(20 times 1.040) + (11. times 1.050) = $123, 660 sum
I need help E6-16....
additional info
FIFO (23 times 900) + (45 times 1020) +(20 times 1.040) + (11. times 1.050) = $123, 660 sum of ending inventory and codes order both methods is the some. ending inventory = (11 times 1, 050) -phi 135, 210 = $ 11, 550 avg cost (121 times 1, 024^24) = $ 123, 902 ending inventory (11 times 1, 024^24) = $11, 267 $135, 210 Information about Zhu Boards is presented in E6-4. Additional data regarding Zhu's sales of Xpert snowboards are provided below. Assume that Zhu uses a perpetual inventory system. (a) Compute ending inventory at September 30 using FIFO and moving-average cost. (b) Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system (from E6-4). (c) Which inventory cost flow method (FIFO, moving-average cost) gives the same ending inventory value under both periodic and perpetual? Which method gives different ending inventory values? Punjab Company, Ltd. reported the following information for November and December 2017. On December 1. Discount Electrics Ltd. has three DVD players left in stock. All are identical, all are priced to sell at NT$4, 500. One of the three DVD players left in stock with serial #1012. was purchased on June 1 at a cost of NT$3,000. Another, with serial #1045, was purchased on November 1 for NT$2, 760. The last player, serial #1056 was purchased on November 30 for NT$2, 520. (a) Calculate the cost of goods sold using the FIFO periodic inventory method assuming that two of the three players were sold by the end of December, Discount Electronics year-end. (b) If Discount Electronics used the specific identification method instead of the FIFO method, how might it alter its earnings by "selectively choosing" which particular players to sell to the two customers? What would Discounts cost of goods sold be if the company wished to minimize earnings. Maximize earnings? (c) Which of the two inventory methods do you recommend that Discount use? Explain why. Zhu Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Zhus purchases of Xpert snowboards during September is shown on the next page. During the same month, 121 Xpert snowboards were sold. Zhus uses a periodic inventory systemStep 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