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I was wondering if you could help me with Chapter 6 exercise 6-3 in the book fundamental accounting principles. I need help with my accounting
I was wondering if you could help me with Chapter 6 exercise 6-3 in the book fundamental accounting principles.
I need help with my accounting problem Exercise 6-3 (Chapter 6) in the book fundamental accounting principles.
CHAPTER Inventory Costing and Valuation iflc Identification cost flow assumption L02 Xcel gxereise 6-3 Specific FIGURES: CoGs 5,427, Gross profit $15,073 tthe data in Bsercise 6-2 Assume that Urban Glam Cosmetics uses the specific identification o cost invezto. The 700 units were specifically sold as follows to MG l in IG Jan. 10: 70 units from beginning inventony Mar. 15: 3 units from beginning inventory, and 177 units from the March 14 purchase units from the March 14 purchase, and units from the July 30 purchase 5: 50 400 Oct. Calculate cost of goods sold and the gross profit. Exercise 6-4 Alternative cost flow assumptions-perpetual inventory system LO2 Xcel shipping char e. During the year, ova OMG haggage consiganent . On December 31, 3017, the c 3017, OMG Luggage sold yellow higgage to a Janaaru 4. 2018 As the inventory was 1, 3017, the staft included this inventory in the Final sth d. On December 3), 3017, OMG Lgage 2.22 and a cot of $1,ul Te aist inventory in person on acost of $1.131. The oustomer paikd for the hggage and a nventory ist tual LO2 X Exercise 6-2 Alternative cost flow assumptions-perpet CHECK IGURES: COGS a. $4.400.00: b. $9417.90 Urban Glam Cosmeties made purchases of ligpstick in i c as ow urrent year lan. 3 Beginning inventory 2 250 units Mar 14 Puchased July 30 Puchased 500 units 3.2o 7.000 Calew se the e Cost of goeds avaisble fer sale 11.150 1. FD 2. Mowing w Urhan Glam Cosnetics made sakes on the following dates at a selling price of $35 per unit. to ihe ne 70 units 180 units 450 units 700 units Exercise 6 CHECK FIGu Car Armou and sales a Mar 15 Oct. 5 Total Required to the ending inventory and to goods sold under The business uses a perpetual inventory system. Determine the costs that s a. FIFO b. Moving weighted average (round to the nearest whole cent) Also cakculate the gross profit under each method. 434 CHAPTER Inventory Costing and Valuation iflc Identification cost flow assumption L02 Xcel gxereise 6-3 Specific FIGURES: CoGs 5,427, Gross profit $15,073 tthe data in Bsercise 6-2 Assume that Urban Glam Cosmetics uses the specific identification o cost invezto. The 700 units were specifically sold as follows to MG l in IG Jan. 10: 70 units from beginning inventony Mar. 15: 3 units from beginning inventory, and 177 units from the March 14 purchase units from the March 14 purchase, and units from the July 30 purchase 5: 50 400 Oct. Calculate cost of goods sold and the gross profit. Exercise 6-4 Alternative cost flow assumptions-perpetual inventory system LO2 Xcel Exercise 6-2
Exercise 6-3 (this is the one I need help with).
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