Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer all three thank you The periodic inventory records of Flexon Prosthetics indicate the folowing for the month of July (Click the icon to

Please answer all three thank you
image text in transcribed
image text in transcribed
image text in transcribed
The periodic inventory records of Flexon Prosthetics indicate the folowing for the month of July (Click the icon to view the inventory records.) Al July 31, Flexon counts four units of inventory on hand. Compute ending merchandise inventory and cost of goods sold for Flexon using the weighted average inventory costing method. 1 Weighted average Data Table Ending Merchandise Inventory Cost of Goods Sold Jul. 1 Beginning merchandise inventory Jul. 8 Purchase Jul. 15 Purchase 6 units @ $60 each 5 units@ $67 each 10 units @ $70 each 5 units @ $85 each Jul. 26 Purchase The periodic inventory records of Synthetix Prosthetics indicate the following for the month of December (Click the icon to view the inventory records) At December 31, Synthetix counts six units of inventory on hand, Compute ending merchandise inventory and cost of goods sold for Synthetix using the LIFO inventory costing method LIFO Cost Data Table Ending Merchandise Inventory Cost of Goods Sold Dec, 1 Beginning merchandise Inventory Dec. 8 Purchase Dec. 15 Purchase Dec. 26 Purchase 9 units @ $35 each 8 units $30 each 12 units $44 each 16 units 542 each The periodic inventory records of Synergy Prosthetics indicate the following for the month of December. (Click the icon to view the inventory records.) At December 31, Synergy counts four units of inventory on hand. Compute ending merchandise inventory and cost of goods sold for Synergy using the FIFO inventory costing method. - X FIFO Cost Data Table Ending Merchandise Inventory Cost of Goods Sold Dec. 1 Beginning merchandise inventory Dec. 8 Purchase Dec. 15 Purchase Dec. 26 Purchase 6 units $60 each 5 units 567 each 10 units @ $70 each 5 units @ 595 each

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

Management Control Systems Performance Measurement Evaluation And Incentives

Authors: Kenneth Merchant, Wim Van Der Stede

3rd Edition

0273737619, 978-0273737612

More Books

Students also viewed these Accounting questions

Question

Describe strategic succession planning in todays environment.

Answered: 1 week ago

Question

Explain the various elements of a diverse workforce.

Answered: 1 week ago

Question

Describe the strategic planning process.

Answered: 1 week ago