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It tells me All answers must be entered as a formula. 1Better Bottles, Inc, uses a periodic inventory systerm and has the following information available
It tells me "All answers must be entered as a formula.
1Better Bottles, Inc, uses a periodic inventory systerm and has the following information available # of Units Cost per Unit Total Cost 3 Beginning Invento 4 Jan. 15 Purchase 5 Jan. 20 Purchase 6 Goods Available for Sale 7 Less: January Sales 8 Ending Inventory 20.00 $22.00 30.00 $400.00 $594.00 $990.00 $1,984.00 20 80 36 10 11 Required: 1) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO. 12 13 FIFO Ending Invent # of Units 15 16 Jan. 20 Purchase 17 Jan. 15 Purchase 18 19 20 21 22 Beginning Invento 23 Jan. 15 Purchase 24 25 26 2) Calculate both the Ending Inventory and Cost of Goods Sold Using Periodic LIFO Cost Per Unit Total Cost FIFO Cost of Goods Sold # of Units Cost Per Unit Total Cost 36 LIFO Ending Invento # of Units 28 29 Beginning Invento 30 Jan. 15 Purchase 31 32 Cost Per Unit Total Cost LIFO Ending Invento # of Units Total Cost 34 35 Jan. 20 Purchase 36 Jan. 15 Purchase Cost Per Unit 36 Sheet1Step by Step Solution
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