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Please help with section of question that is incorrect -- I have submitted the entire question in case the data is needed. Thank you Exercise
Please help with section of question that is incorrect -- I have submitted the entire question in case the data is needed. Thank you
Exercise 8-19 Bonita Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a cost of $23 per unit. None of this inventory was sold in 2016. Relevant information is as follows. Ending inventory units December 31, 2016 December 31, 2017, by purchase date December 2, 2017 July 20, 2017 170 50 220 During the year 2017, the following purchases and sales were made Purchases Sales March 15 370 units at $28 July 20 September 4 270 units at 33 December 2 170 units at 35 April 10 August 20 370 November 18 220 December 12 270 270 370 units at 29 The company uses the periodic inventory method. Your answer is correct. Calculate average-cost per unit. (Round answer to 2 decimal places, e.e. 2.76. Average-cost 29.5 LINK TO TEXT Your answer is correct. Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost. (Round answers to O decimal places, e.g. 2,760.) Specific Identification FIFO LIFO Average-Cost Ending Inventory 7,60 5,31 6,49 Your answer is incorrect. Ty again. Calculate price index. (Round answer to 4 decimal places, e.g. 2.7653.) Price Index 65.714 [x] Your answer is incorrect. Try again. Determine ending inventory using dollar-value LIFo. Assume that the December 2, 2017, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base layer priced at s23 per unit.) (Round answer to o decimal places, e.g. 2,760.) Ending inventory at dollar-value LIFO
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