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parts 1 and 2 plz Samuelson and Messenger (SAM) began 2021 with 360 units of its one product. These units were purchased near the end
parts 1 and 2 plz
Samuelson and Messenger (SAM) began 2021 with 360 units of its one product. These units were purchased near the end of 2020 to $20 each. During the month of January, 190 units were purchased on January 3 for 523 each and another 360 units were purchased on January 19 for $25 each Sales of 170 units and 270 units were made on January 10 and January 25, respectively. There were 160 units on hand at the end of the month. SAM uses a perpetuaventory system Required: 1. Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO 2. Complete the below table to calculate ending inventory and cost of goods sold for January using average cost Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the below table to calculate ending inventory and cost of goods sold for January using Firo. Cost of Goods Available for Sale Per BEO Cost of Goods Dry 25 Cost of Hors sold Conte Goods Sold of units CM Cost per unit Cost of Good Son January 10 of unit Cost per Coutod Goods un Sold 5 2000$ oli Cost of Goods Available for Sale mory 20.00 $ 7.200 5 360 $ 20.00 2100 Bog Inventory Purchases: January 8 January 19 Total 23.00 25.00 23.00 2500 2300 2500 23.00 2500 180 360 900 4,140 9.000 20.340 0 0 $ 0 0 $ $ Required 2 > Samuelson and Messenger (SAM) began 2021 with 360 units of its one product. These units were purchased near the end of 2020 for $20 each. During the month of January 180 units were purchased on January 8 for $23 each and another 360 units were purchaved on January 19 for $25 each Sales of 170 units and 270 units were made on January 10 and January 25, respectively. There were 460 units on hand at the end of the month. SAM uses a perpetual inventory system 59 Required: 1. Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO. 2. Complete the below table to calculate ending inventory and cost of goods sold for January using average cost. Complete this question by entering your answers in the tabs below. Required i Required 2 Complete the below table to calculate ending inventory and cost of goods sold for January using average cost (Round cost per unit to 2 decimal places. Enter inventory reductions from sales as negative numbers.) Inventory on hand Cost Goods Sold Perpetual Average Cost per of units Inventory Value N of units sold unit Avg. Cost per unit Cost of Goods Sold $ 0 0 0 Beginning Inventory Purchase - January 8 Subtotal Average Cost Sale - January 10 Subtotal Average Cost Purchase - January 19 Subtotal Average Cost Sale - January 25 Total 0 0 0 0 0 0 0 $ 0 Step by Step Solution
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