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please show all work so I understand it PROBLEM D Assuming periodic inventory methods. Show work and circle your answers. The Rock Shop shows the
please show all work so I understand it
PROBLEM D Assuming periodic inventory methods. Show work and circle your answers. The Rock Shop shows the following data related to an item of inventory: Inventory, January 1 Purchase, January 9 Purchase, January 19 300 units $10.00 700 units $11.00 140 units@ $13.00 Ending Inventory, January 31 250 units SHOW CALCULATIONS Instructions What value should be assigned to the ending inventory and cost of goods sold (a) using FIFO? Cost of Goods Sold = Ending Inventory (b)using LIFO? Cost of Goods Sold Ending Inventory (c) using weighted average Cost of Goods SoldEnding Inventory (d)Assuming the company keeps perpetual inventory and uses the moving average method of inventory costing, what is the cost of goods (and ending inventory) sold if all 890 units were sold on January 12? Cost of Goods Sold- Ending Inventory (e)Assuming the company keeps perpetual inventory and uses the LIFO method of inventory costing, what is the cost of goods sold (and ending inventory) if all 890 units were sold on January 12 Cost of Goods Sold Ending Inventory_ Step by Step Solution
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