Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Instructions: do parts 1,2,3- FIFO and LIFO only! please help me if you can((: trying to get more clear pictures. they turn out clearer but

image text in transcribed
Instructions: do parts 1,2,3- FIFO and LIFO only!
please help me if you can((:
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
trying to get more clear pictures. they turn out clearer but when i post them, they go blury!
Aloha Company uses a perpetual inventory system. It entered into the following calendar-year purchases Problem 5-38 and sales transactions. (For specific identification, the May 9 sale consisted of 80 units from beginning Perpetuat Anemove Inventory and 100 units from the Mayo pwchase the May 30 sale comsisted of 200 units from the May 6 cost flows purchase and 100 units from the May 25 purchase PI Date Units Acquired at Cost Unita Sold at Retail May Begge 15000.00 May Porce Son 10.00 petit My 12000 show May 100 45000 22 Required 1. Come cost of the forse and the camera for 2. Com the browsinding Come cost and went Rondall 4. Contoh the past Arus Como MacBook Pro * 30 11 ru 1 # 3 % A 2 $ 4 an & 7 OD * 6 E + 11 9 0 del W E R T Y U 1 O P S D F G H J K L 228 Chapter 5 ventones and cost of Sales Check (3) Ending watory FFO. 588 800 LIFO. 562.500, WA $75.600 LFO 1085 prof. 5449 200 Required 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory 3. Compute the cos assigned to ending inventory using (a) FIFO (6) LIFO. (C) weighted average and (d) specific identification, (Round all amounts to cents.) 4. Compute gross profit earned by the company for each of the four costing methods in part 3 Analysis Component 5. If the company's manager earns a bonus based on a percent of gross profit, which method of inventory costing will the manager likely prefer? 228 Chapter 5 Inventories and Cost of Sales Check Erding Inventory HOBB ROLIFO 500. WA $75.600 Higrosoft 5449,200 Required 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory 3. Compute the cost assigned to ending inventory using FIFO, () LIFO. (c) weighted average, and (d) specific identification (Round all amounts to cents) 4. Compute gross profit earned by the company for each of the four costing methods in part 3. Analysis Component 5. If the company's manager earns a bonus based on a percent of gross profit, which method of inventory costing will the manager likely prefer

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

Cost Accounting A Decision Emphasis

Authors: Germain B. Boer, William L. Ferrara, Debra C. Jeter

4th Edition

0873939123, 978-0873939126

More Books

Students also viewed these Accounting questions

Question

Value a common set of regular cash flows called an annuity

Answered: 1 week ago