Metro Mart Co. sells one product. Presented below is information for January 2022 for Metro. Date 1/1/22 Inventory 100 units at $5 each 1/4/22 Sale
Metro Mart Co. sells one product. Presented below is information for January 2022 for Metro. Date 1/1/22 Inventory 100 units at $5 each 1/4/22 Sale 80 units at $8 each 1/11/22 Purchase 150 units at $6 each 1/13/22 Sales 120 units at $8.50 each 1/20/22 Purchase 150 units at $7 each 1/27/22 Sales 100 units at $9 each *Compute the following costs: (15 points) A) Cost of goods sold under weighted average cost (periodic). B) Cost of ending inventory under
Metro Mart Co. sells one product. Presented below is information for January 2022 for Metro.
Date
1/1/22Inventory100 units at $5 each
1/4/22 Sale 80 units at $8 each
1/11/22Purchase150 units at $6 each
1/13/22Sales120 units at $8.50 each
1/20/22Purchase150 units at $7 each
1/27/22Sales100 units at $9 each
*Compute the following costs: (15 points)
A) Cost of goods sold under weighted average cost (periodic).
B) Cost of ending inventory under FIFO (periodic).
C) Cost of goods sold under LIFO (periodic)
D) Cost of ending inventory under moving average (perpetual).
E) Cost of goods sold under FIFO (perpetual).
F) Cost of goods sold under LIFO (perpetual).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the costs for Metro Mart Co we will follow the steps to compute the cost of goods sold COGS and ending inventory using various methods weighted average FIFO LIFO and moving average Invent...See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
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