Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with part b2) .. thank you Problem 6-2A (Part Level Submission) Riverbed Distribution markets CDs of the performing artist Fishe. At the

image text in transcribed

image text in transcribed

I need help with part b2) .. thank you

Problem 6-2A (Part Level Submission) Riverbed Distribution markets CDs of the performing artist Fishe. At the beginning of October, Riverbed had in beginning inventory 3,600 of Fishe's CDs with a unit cost of $7. During October, Riverbed made the following purchases of Fishe's CDs. Oct. 3 4,500 @ $8 Oct. 9 6,300 @ $9 Oct. 19 Oct. 25 5,400 @ $10 7,200 @ $11 During October, 19,620 units were sold. Riverbed uses a periodic inventory system. (a) Your answer is correct. Determine the cost of goods available for sale. Cost of goods available for sale 251100 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT VIDEO: SIMILAR PROBLEM Attempts: 1 of 3 used Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Weighted-average cost per unit 2.30] Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT VIDEO: SIMILAR PROBLEM Attempts: 1 of 3 used (62) x Your answer is incorrect. Try again. Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round answers to o decimal places, e.g. 1,250. Use weighted-average unit cost rounded to 2 decimal places for computations.) FIFO LIFO AVERAGE-COST XE The ending inventory 203400 166160 182466 The cost of goods sold | 47700 84940 68634 Click if you would like to Show Work for this question: Open Show Work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Digging For Disclosure Tactics For Protecting Your Firms Assets From Swindlers, Scammers, And Imposters

Authors: Kenneth S. Springer, Joelle Scott

1st Edition

0131385569, 9780131385566

More Books

Students also viewed these Accounting questions