Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer by solution not on excel sheets. Accountants are the Life () the Party Company is in the process of computing their ending inventory

image text in transcribedplease answer by solution not on excel sheets.

Accountants are the Life () the Party Company is in the process of computing their ending inventory value for the year ended December 31, 2015. The following information is available: Beginning inventory (1-1) 5000 units @ $6.00 $30,000 March purchase 8000 units @ $6.50 52,000 May purchase 3000 units @ $7.00 21,000 November purchase 4000 units @ $10.00 40.000 143,000 During the year the company SOLD 6000 units. REQUIRED: 1. Compute the number of units LEFT in ending inventory: 2. Compute the value of the ending inventory and COGS under each of the methods below: ENDING INVENTORY COGS FIFO LIFO Weighted Average (carry per unit to two decimals)

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

Accounting Regulation In Japan Evolution And Development From 2001 To 2015

Authors: Masatsugu Sanada, Yoshihiro Tokuga

1st Edition

0367221071, 9780367221072

More Books

Students also viewed these Accounting questions