"inventory costing methods-perpetual method: Chen sales corporation uses the perpetual inventory system. On January 1, 2012, Chen had: 1,000 units of product A with a unit cost of $21 per unit. A summary of purchases and sales during 2012 follows:"

Inventory Costing Methods-Perpetual Method Chen Sales Corporation uses the perpetunt inventory system. On January 1, 2012 Chen had: 1.000 units of product with a unit cost of 321 per unit. A Summary of purchases and sales during 2012 follows: Unit US Cost Purchased sold 000 100 MY 10 Auto 100 30 300 Required Anume that Chen uses the fire in first out method Compute the cost of food sold for 2012 and the entire entory burce of December 31, 2012. for product the Assume that Cher uses the first out method, Compute the cost of prods sold for 2012 and the entire wertory balance at December 31, 2012. for product found to the nearest do 0 tout Indrary Cost of possos int-Out Indigentory 1 Coordon Sold On 11 Araw Marado westen Inventory Costing Methods-Perpetual Method Chen Sales Corporation uses the perpetual inventory system. On January 1, 2012. Chen had: 1,000 units of product A with a unit cost of 21 per unit. A summary of purchases and sales during 2012 follows: Un Unte Unita Cost Purchased Sold 400 523 12800 1,800 ADE My10 AE Oct 23 Deco 100 300 10 1.200 Required Assume that Chen uses the first-in, first-out method Compute the cost of goods sold for 2012 and the ending inventory balance at December 31, 2012, for product b. Assume that Chen uses the last first-out method. Compute the cost of goods sold for 2012 and the er inventory balance at December 31, 2012. for product A 0 Round to the nearest dollar Out Ending inventory Cost of prods sold La rout Ending wory Cost of Good Sold 0 0 Question 11 Answer saved Marked out of 4.00 P Flag question Inventory Costing Methods-Perpetual Method Chen Sales Corporatic summary of purchases and sales during 2012 follows: Unit Units Units Cost Purchased Sold Feb.2 400 Apr.6 $23 1.800 July 10 1.600 Aug. 9 27 800 Oct.23 800 Dec. 30 30 1.200 Required a. Assume that Chen uses the first-In, first-out method. Compute the cos b. Assume that Chen uses the last-in, first-out method. Compute the cost Round to the nearest dollar. a. First-In, First-Out Ending inventory $ Cost of goods Sold $ b. Last-in, First-Out Ending inventory 5 Cost of Goods Sold $ 0 0 0 0 Previous Save Answers TEST 2 Navigation