Question
On January 1, MacFarland Inc., which sells clocks, had units on hand that cost $14 each. Its 20X9 transactions are as follows: Date Purchases Sales
- On January 1, MacFarland Inc., which sells clocks, had units on hand that cost $14 each. Its 20X9 transactions are as follows:
| Date | Purchases | Sales | Units on hand |
| January 1 |
|
| 40 |
| February 2 | 60 units @ $15 each |
|
|
| March 3 |
| 70 units @ $25 each |
|
| May 12 | 90 units @ $17 each |
|
|
| June 22 |
| 55 units @ $29 each |
|
| Sept. 13 | 75 units @ $18 |
|
|
| November 24 |
| 60 units @ $28 each |
|
What is MacFarlands ending inventory and COGS under:
- the periodic method and weighted-average costing?
- the perpetual method and moving-average costing?
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Accounting for Decision Making and Control
Authors: Jerold Zimmerman
9th edition
978-1259564550
