Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Periodic Inventory by The Methodost of Merchandise Sold The units of ama for sale during the year were as follow an 5094 Mar 10 Purchase

image text in transcribed
image text in transcribed
image text in transcribed
Periodic Inventory by The Methodost of Merchandise Sold The units of ama for sale during the year were as follow an 5094 Mar 10 Purchase 605102 Aug 30 Purchase 20 units 5106 Dec 12 Punch 70 5110 There are no units of the Rom, me dywa inwestory at December penodig wertowym Determine the inventory cost and the cost of merchandise by Rondetin calculation to contextual and find wwers to the room Cost of Merchandise Enventory and cost of Merchandise Sold Inventory Method Merchandise Hrventory Merchando at in first-out (FO) b. Last first-out (LO) Weghted average cout ht Periodic Inventory by Three Methods; Cost of Merchandise Sold The units of an item available for sale during the year were as follows: Jan. 1 50 units @ $94 Inventory Purchase Mar 10 60 units @ $102 Aug. 30 Purchase 20 units @ $106 Dec. 12 Purchase 70 units @ $110 There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is Determine the inventory cost and the cost of merchandise sold by three methods. Round interim calcul G od Cart of Merchandise Sold eBook Show Me How E Prem Periodic Inventory Using FIFO, and weighted Average Cast Methos The units of an item avable for sale during the year were as follow Jan 1 Inventory units at 52,600 $20.000 Aug. 7 Purchase 20 units $2.900 58.000 Dec 1 Purchase to us at $3.100 31.000 38 $109,500 There are 16 units of the tem in the physical tory at December. There was the way these (LIFO) method, and the weighted average cost method (Round per unit cost to two decimal places and your answer to the nearest whole dar) First intr-out (FFO) b. Last-in, first-out (LO) Weighted average cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Managers Interpreting Accounting Information For Decision Making

Authors: Paul M. Collier, Sandy M. Kizan, Eckhard Schumann

1st Canadian Edition

1118037960, 9781118037966

More Books

Students also viewed these Accounting questions