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NEED 1B, 2A, 3A solved EE6-1 p275 PE 6-1B Cost flow methods OBJ. 2 The following three identical units of Item Beta are purchased during
NEED 1B, 2A, 3A solved
EE6-1 p275 PE 6-1B Cost flow methods OBJ. 2 The following three identical units of Item Beta are purchased during June: tem Beta Units Cost 50 60 ME HOWW June 2 23 Total Average cost per unit 180 60 ($180 3 units) Assume that one unit is sold on June 27 for $110. Determine the gross profit for June and ending inventory on June 30 using the (a) first-in, first-out (FIFO) (b) last-in, first-out (LIFO); and (c) weighted average cost methods. PE 6-2A Beginning inventory, purchases, and sales for Item ProX2 are as follows: Perpetual inventory using FIFO OBJ.3 EE 6-2 p 277 60 units at $100 35 units 50 Jan. 1 Inventory ME HOw Purchase Sale units at $110 48 units 13 25 Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, de- termine (a) the cost of merchandise sold on January 25 and (b) the inventory on January 31. PE 6-2B Beginning inventory, purchases, and sales for Item Delta are as follows: Perpetual inventory using FIFO OBJ.3 EE 6-2 p 277 July 50 units at $15 44 units 90 Inventory ME HOw 15 24 Purchase units at $18 40 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on July 24 and (b) the inventory on July 31 PE 6-3A Beginning inventory, purchases, and sales for Item Zebra 9x are as follows: Perpetual inventory using LIFO EE 6-3 p278 OBJ. 3 April 1 10 18 Inventory 420 units at $8 300 units 280 units at $9 250 units ME HOW Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, deter- mine (a) the cost of merchandise sold on April 27 and (b) the inventory on April 30Step by Step Solution
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