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Not sure if Ive done this right so far...... i really just need help with #5, the rest i have finished. Ferris Company began 2018

Not sure if Ive done this right so far...... image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
i really just need help with #5, the rest i have finished. image text in transcribed
image text in transcribed
Ferris Company began 2018 with 6,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January 2018 are as follows: Purchases Date of Purchase Units Unit Cost $ 10 Total Cost Jan. 10 5,000 6,000 50,000 66,000 Jan. 18 11 Totals 11,000 116,000 "Includes purchase price and cost of freight. Sales Date of Sale Jan. 5 Units 3,000 2,000 4,000 Jan. 12 Jan. 20 Total 9,000 8,000 units were on hand at the end of the month. Required: Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives 1. FIFO, periodic system. 2. LIFO, periodic system. 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 5 Required 4 8,000 units were on hand at the end of the month. Required: Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives: 1. FIFO, periodic system. 2. LIFO, periodic system. 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required S Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. Cost of Goods Available for Sale Ending Inventory - Periodic FIFO Cost of Goods Sold - Periodic FIFO Cost of Goods Available for # of units in ending inventory EIFO Ending Inventory Cost per unit # of units sold Cost per unit Cost of Goods Sold Cost per unit # of units Sale Beginning Inventory 6,000 $ 6,000 S 9.00 9.00 9.00 $ 54,000 54,000 S 0 Purchases: 2,000 $ 6,000 S January 10 January 18 5,000 $10.00 6,000 $11.00 50,000 3,000 $ 10.00 30,000 10.00 20,000 66,000 11.00 0 11.00 66,000 86,000 17,000 9,000 84,000 8,000 S Total $ 170,000 Required 2 Required 1 Required: Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives: 1. FIFO, periodic system. 2. LIFO, periodic system. 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system. Complete this question by entering your answers in the tabs below. Required 2 Required 1 Required 3 Required 4 Required 5 Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system. Cost of Goods Sold Periodic LIFO Ending Inventory Periodic LIFO Cost of Goods Available for Sale Cost of Goods Available for Sale # of units LIFO Cost per # of units sold Cost per Cost per unit Cost of Goods Sold Ending Inventory # of units in ending inventory unit unit Beginning Inventory Purchases: 6,000 S 9.00S 54,000 9.00 S 9.00 $ 0 0 $ 5,000 January 10 0 S 0.00 0 0.00 0 January 18 6,000 S 0.00 0 S 0.00 0 Total 17,000 S 54,000 0 S 0 $ 0 Required 1 Required 3 > 000 units were on hand at the end of the month. equired: alculate January's ending inventory and cost of goods sold for the month using each of the following alternatives: FIFO, periodic system. LIFO, periodic system. LIFO, perpetual system. Average cost, periodic system. Average cost, perpetual system. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate January's ending inventory and cost of goods sold for the month using LIFO, perpetual system. Cost of Goods Sold January 20 Cost of Goods Available for Sale Cost of Goods Sold Cost of Goods Sold January 5 January 12 Inventory Balance "erpetual LIEO Cost of Goods Available for Sale # of units sold # of units in ending inventory 8 of units Cost per Cost per unit Cost of Goods Sold # of units sold Cost per unit Cost of Goods Sold # of units sold Cost per unit Ending Inventory Cost per unit Cost of Goods Sold unit 3,000 9.00 Reg Inventory 9.00 $ 0 9.00 27,000 9.00 0 S 9.00 "echases 10.00 0 10.00 2,000 20.000 10.00 10.00 January 10 10.00 0 11.00 44,000 0 January 18 4,000 11.00 0 11.00 11.00 0 11.00 9,000 0 0 tal S 91,000 0 S 0 S 0 S 0 Required 2 Required 4 Required: Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives: 1. FIFO, periodic system. 2. LIFO, periodic system. 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system. Cost of Goods Available for Sale Ending Inventory Average Cost Cost of Goods Sold Average Cost Cost of #of units in ending inventory Average Cost per Unit Average Cost per Average Cost Cost of Goods Sold Ending Inventory Unit Goods #of units #of units sold Cost Available for unit Sale Beginning Inventory 6,000 S9.00 54,000 $ Purchases: January 10 January 18 Total 5,000 10.00 6,000 S11.00 17,000 $10.00 50,000 66,000 8,000 S 9,000 S 10.00 S $ 170,000 90,000 10.00 $ 80,000 Required 3 Required 5> your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Calculate January's ending inventory and cost of goods sold for the month using Average cost, p average cost per unit to 4 decimal places. Enter sales with a negative sign.) Inventory on hand Cost of Goods Sold Perpetual Average # of units Cost per unit Inventory Value Avg.Cost per unit Cost of #of units Goods Sold sold Beginning Inventory Sale-January 5 Subtotal Average Cost Purchase-January 10 Subtotal Average Cost Sale-January 12 Subtotal Average Cost Purchase -January 18 Subtotal Average Cost Sale - January 20 6,000 9.0000 $ 54,000 3,000 0 9,000 54,000 5,000 10.0000 50,000 14,000 104,000 2,000 0 104,000 16,000 66,000 6,000 11.0000 22,000 170,000 4,000 0 Total $ 26,000 $ 170,000 0 0 Required 4 Requb ed 5 5. Average cost, perpetual system. Answer is not complete. Complete this question by entering your answers in the tabs below Required 3 Required 4 Required 5 Required 2 Required 1 Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round average cost per unit to 4 decimal places. Enter sales with a negative sign.) Cost of Goods Sold Inventory on hand Cost of Goods Sold Cost #of Perpetual Average Avg.Cost per unit Inventory Value # of units units per unit sold Beginning Inventory Sale -January 5 Subtotal Average Cost Purchase - January 10 Subtotal Average Cost 9.0000 54,000 6,000 27,000 3,000 9.0000 81,000 9.0000 9,000 45,000 5.000 9.0000 126,000 9.6250 14,000 2,000 9.0000 9.6250 18,000 Sale - January 12 144,000 16,000 Subtotal Average Cost Purchase - January 18 6,000 10.3125 61,875 Subtotal Average Cost Sale -January 20 22,000 205,875 4,000 10.3125 26,000 41,250 0 10.3125 247,125 0 Total Required 4 Required 5 Check my work mode: This shows what is correct or incorrect for the work you heve completed so for. It does not indicate completion nequ Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives 1. FIFO, periodic system. 2. LIFO, periodic system. 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 3 Required 4 Required 5 Required 2 Calculate January's ending inventory and cost of goods sold for the month using LIFO, perpetual system. Cost of Goods Sold January Cost of Goods Available for Sale Cost of Goods Sold January 12 Investory Balance Cost of Goods Sold January 5 of units Cost of Goods Available Perpetual LIEO Cost Cost of Cost of Goods Sold of Cost of Goods Sold of Cost per unit of Cos per anit Ending in Cos per unit Cost per unit 8 of units units Goods units sold units per unit Ieveory ending inventory 3,000s Sold sold sold for Sale s 27.000 s 9.00 0 900 s 27.000 900 6,0005900 s Beg Inventory Purchases 54.000 3,000 s 9 00 3.000 2000 8.000 10 00 30.000 0 20,000 10 00 0 2.000 10 00 10 00 10 00 5.000 January 10 January 18 500 22000 S 79.000 4.000 11 00 11 00 44000 11.00 0 11.00 6600 600 11.00 S 44.000 20,000 4.000 s 27.000 2.000 7,.100 65,600 3,000 Total Required 4>

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