I need help finding (c) LIFO amd the left side for CALCULATION the 2nd image are the solutions for (A) and (B) NAME COST PROBLEM INFO ACT UNITS PU BI 15 $5 00 PUR 35 $10 00 PUR 50 $7 50 PUR 20 $8 00 TOTALS 120 Ending inventory is 30 units and selling price is $ 15 pu Calculate of goods sold and ending inventory using the 3 methods below A WEIGHTED AVERAGE COGS COST OF GOOD SOLD ENDING INVENTORY FOR CALCULATIONS ACT UNIT PU COST BI PUR PUR PUR TOTALS per unit WA SELLING PRICE IS $15 00 PER UNIT SALES $ LESS COST OF GOOD SOLD GROSS PROFIT $ COGS WA WA B COGS FIFO COST OF GOOD SOLD ENDING INVENTORY COGS FIFO FIFO FIFO $ SALES LESS COST OF GOOD SOLD GROSS PROFIT C COGS LIFO COST OF GOOD SOLD ENDING INVENTORY COGS LIFO LIFO LIFO SALES LESS COST OF GOOD SOLD GROSS PROFIT (A) Weighted Average Average cost Total Cost Units 15 5 35 10 50 7 5 20 8 120 960 120 $8 Ending Inventory 30 Units Units Sold 120 30 90 Selling Price $15 per unit COGS 90 8 $720 El 30 8 $240 Sales 90 15 $1350 Less COGS 90 8 $720 Gross Profit $630 (B) FIFO COGS 15 5 35 10 40 7 5 $725 El 10 7 5 20 8 $235 Sales 90 15 $1350 Less COGS $725 Gross Profit $625 (C) LIFO COGS 20 8 50 7 5 20 10 $735 El 15 5 15 10 $225 Sales 90 15 $1350 Less COGS $735 Gross Profit $615

Question

I need help finding (c) LIFO amd the left side for CALCULATION the 2nd image are the solutions for (A) and (B) NAME  COST PROBLEM INFO ACT UNITS PU BI 15 $5 00 PUR 35 $10 00 PUR 50 $7 50 PUR 20 $8 00 TOTALS 120 Ending inventory is 30 units and selling price is $ 15 pu  Calculate of goods sold and ending inventory using the 3 methods below  A  WEIGHTED AVERAGE COGS COST OF GOOD SOLD ENDING INVENTORY FOR CALCULATIONS ACT UNIT PU COST BI PUR PUR PUR TOTALS per unit WA SELLING PRICE IS $15 00 PER UNIT SALES $ LESS COST OF GOOD SOLD GROSS PROFIT $ COGS WA WA B  COGS FIFO COST OF GOOD SOLD ENDING INVENTORY COGS FIFO FIFO FIFO $ SALES LESS COST OF GOOD SOLD GROSS PROFIT C  COGS LIFO COST OF GOOD SOLD ENDING INVENTORY COGS LIFO LIFO LIFO SALES LESS COST OF GOOD SOLD GROSS PROFIT (A) Weighted Average Average cost   Total Cost Units   15 5   35 10   50 7 5   20 8   120   960   120   $8 Ending Inventory   30 Units Units Sold   120 30   90 Selling Price   $15 per unit COGS   90 8   $720 El   30 8   $240 Sales   90 15   $1350 Less  COGS   90 8   $720 Gross Profit   $630 (B) FIFO COGS   15 5   35 10   40 7 5   $725 El   10 7 5   20 8   $235 Sales   90 15   $1350 Less  COGS   $725 Gross Profit   $625 (C) LIFO COGS   20 8   50 7 5   20 10   $735 El   15 5   15 10   $225 Sales   90 15   $1350 Less  COGS   $735 Gross Profit   $615

Accepted Answer

The Answer is in the image, click to view ...

Question

I need help finding (c) LIFO amd the left side for CALCULATION the 2nd image are the solutions for (A) and (B) NAME: COST PROBLEM

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Making Accountability Work Dilemmas For Evaluation And For Audit

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question