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Old MathJax webview could you please explain both methods please Inventory data Trout company uses a perpetual system and made purchases and sales of a
Old MathJax webview
could you please explain both methods please
Inventory data Trout company uses a perpetual system and made purchases and sales of a particular product as follows: Date Purchase Number of units Cost per unit Total Cost Jan 1 beginning 75 $12.00 $900 March 14 purchase 80 $13.00 $1040 July 30 purchase 500 $14.00 $7000 October 4 purchase 450 $15.00 $6750 Units available 1105 Cost of Goods $15690 The company makes sales in the following dates Date Sale Number of units Jan 10 sale 70 units March 15 sale 30 units Oct 15 sale 350 units Total 450 units The company makes sales in the following dates using special identification method Date Number of unit Jan 10 70 units from the beginning Inventory March 15 5 from the beginning inventory 25 units from the March 14 purchase Oct 15 50 units from March 14 purchase 350 units from Oct 4 purchase Total what is the final balance of the weighted average method?* 5 points Your answer what is the final balance of the Fifo method?(Do not include dollar sign or comma eg: 1000 not 1,000) YourStep by Step Solution
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