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just a2 needs answered! thanks Problem 6-08A al-a2 (Part Level Submission) Concord Inc. is a retailer operating in British Columbia Concord uses the perpetual inventory
just a2 needs answered! thanks Problem 6-08A al-a2 (Part Level Submission) Concord Inc. is a retailer operating in British Columbia Concord uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory: the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Concord Inc. for the month of January 2020. Date Description January 1 Beginning inventory January 5 Purchase January 8 Sale January 10 Sale return January 15 Purchase January 16 Purchase return January 20 Sale January 25 Purchase Unit Cost or Selling Quantity Price 100 $14 141 17 112 28 10 28 55 19 5 19 89 33 19 21 (al) Your answer is partially correct. Try again. Calculate the Moving-average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round answers to 3 decimal places, e.g. 5.251.) Moving-Average Cost per unit January 1 14 January 5 15.755 January 8 15.755 January 10 15.755 $ January 15 16.675 January 16 16.614 January 20 16.614 January 25 17.315 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 5 of 5 used (a2) Your answer is partially correct. Try again. For each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and gross profit. (1) LIFO. (2) FIFO. (3) Moving average cost. (Round average-cost per unit to 3 decimal places, e.g. 12.502 and final answer to o decimal places, e.g. 1,250.) LIFO FIFO Moving-average Cost of goods sold 3495 3212 3338.20 Ending inventory 1799 2169 2060.400 Gross profit 2298 2581 2454.794 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT
just a2 needs answered! thanks
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