Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Periodic Inventory by Three Methods Dymac Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, purchases invoices during the

image text in transcribed
image text in transcribed
image text in transcribed
Periodic Inventory by Three Methods Dymac Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, purchases invoices during the next 12 months, and the inventory count at Decer 4 at 16 Purchases Invoices Model Inventory, 1st 2nd 3rd Inventory Count, January 1 December 31 A10 $ 31 4 at $ 34 4 at $ 37 5 B15 8 at $91 82 3 at 88 6 at 05 7 E60 3 at 66 3 at 56 15 at 59 9 at 61 5 G83 7 at 215 6 at 223 5 at 233 10 at 232 9 334 12 at 58 10 at 60 16 at 67 68 13 M90 2 at 117 2 at 119 3 at 137 3 at 139 970 5 at 163 4 at 173 4 at 178 7 at 183 Required: 1. Determine the cost of the inventory on December 31 by the first in, first-out method If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. If units are in invent the units PURCHASED MOST RECENTLY first Dymac Appliances Cost of the Inventory FIFO Method December 31 Model Quantity Unit Cost Total Cost A10 A10 B15 B15 60 G83 M90 M90 ackboard Learn Funimation - Watch .. Crunchyrell - Watch.. SAP NetWeaver Por... YouTube PC PC Gamer Nexus mods and co... Audio Ubrary - You... a Amazon.com: Onlin. eBook 2. Determine the cost of the inventory on December 31 by the last first-out method. If the inventory of a particular model comprises one entire purchase plus a portion of another purchase accured at a different unit cost, se aparate line for each purchase. If units are metery at two different costs, enter the OLDEST units first Dymae Apple Cost of the Inventory LIFO Method Model Unit Cost Total Cost A10 AID 315 E60 160 234 M90 M90 970 Q70 Total ed average cost method Total 3. Determine the cost of the inventory on December 31 by the weighted average cost method. Dymac Appliances Cost of the Inventory-Weighted Average Method December 31 Model Quantity Unit Cost Total Cost A10 B15 E60 G83 334 M90 070 Total

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

Step: 3

blur-text-image

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

Software Reviews And Audits A How To Guide For Project Staff

Authors: Dr David Tuffley

1st Edition

1461130468, 978-1461130468

More Books

Students also viewed these Accounting questions

Question

Explain why many households do not participate in the stock market.

Answered: 1 week ago

Question

Discuss the goals of financial management.

Answered: 1 week ago