Question
Microsoft inc. uses a perpetual inventory system. The following transactions took place during the month of April. As of April 1 st Microsoft inc. had
Microsoft inc. uses a perpetual inventory system. The following transactions took place during the month of April. As of April 1st Microsoft inc. had 1000 units of product at a cost of $3 per unit in beginning inventory.
April 3rd 4,000 units purchased @ $5 per unit
April 4th 6,000 units purchased @ $10 per unit
April 6th Sold 3,000 units @ $15 per unit
April 15th 4,000 units purchased @ $16 per unit
April 20 Sold 1,000 units @ $20 per units
April 24 8,000 units purchased @ $16 per unit
- If Microsoft inc. uses the FIFO costing method, what is the cost of its ending inventory?
- If Microsoft inc. uses the LIFO costing method, what is the cost of its ending inventory?
- If Microsoft inc. uses the Moving Average costing method, what is the cost of its ending inventory?
4. If Microsoft inc. uses the Moving Average costing method, what is the cost of goods for Microsoft inc.?
5. If Microsoft inc. uses the LIFO costing method, what is Amiables gross margin?
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Auditing and Accounting Cases Investigating Issues of Fraud and Professional Ethics
Authors: Jay Thibodeau, Deborah Freier
4th edition
78025567, 978-0078025563
