problem 6-05A

+ A ECC My Services x OneNote Classroom Notes Editax ACC 2101 2018 Microsoft One X CengageNOWV2 Online teachi X e v2.cengagenow.com/ilm/takeAssignment/takeAssignment Main.do?inwoker=&takeAssignmentSessionLocator &inprogress-false !!! Apps Ch 6 Exercises & Problems eBook Show Me How 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 December 31 are summarized follows: Purchases Invoices Inventory, January 1 Model Ist 2nd Inventory Count, December 31 3rd A10 4 at $ 64 4 at $70 4 at $76 6 515 8 at $ 176 4 at 158 3 at 170 6 at 184 8 60 3 at 75 3 at 65 15 at 68 9 at 70 5 G83 7 at 242 6 at 2250 5 at 260 10 at 259 9 134 12 at 240 10 at 246 16 at 267 16 al 270 15 M90 2 at IOS 2 at 110 3 at 128 3 at 130 5 070 5 at 160 4 at 170 4 at 175 7 at 180 8 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 inventory at two different costs enter the units PURCHASED MOST RECENTLY first Dynac Appliances Cost of the Inventory-FIFO Method December 31 Check My Work Previous Next Assignment Score 1.81% All work saved Email Instructor Save and Exit Submit Agent for a HE Type here to search T M + 67"F Clear :: Apps Ch 6 Exercises & Problems eBook Show Me How 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 inventory at two different costs, enter the units PURCHASED MOST RECENTLY first. Oymac Appliances Cast of the mentory Method Doomber Model Quantity Un Cost Total Cost AIO 5 A10 315 B15 F60 G83 134 M90 M90 070 Q70 Total Previous Neact Check My Work Email Instructor Save and Exit Submit Assignment for Grading All work saved Assignment Score: 1.81% GTC Cimar Ch 6 Exercises & Problems eBook Show Me How 2. Determine the cost of the inventory on December 31 by the last-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 inventory at two different costs, enter the OLDEST units first Cristal the inventory LIFO Method December Model Quantity Um Lost Total Cost A10 $ $ A10 BIS E60 > E60 GAS G83 134 134 M90 M90 M90 Previous Next > Check My Work All work saved Email Instructor Save and Exit Submit Assignment for Gradin Assignment Score: 1.81% O M c + 67" Clear Type here to search Ch 6 Exercises & Problems eBook Show Me How M90 M90 M90 Q70 070 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 34 M90 070 Total $ Check My Work Apps eBook Show Me How Ch 6 Exercises & Problems Total 3. Determine the cost of the inventory on December 31 by the weighted average cost method. Dy Appliances Cost of the Inventory Weighted Average Method Demet Model Total cost Quantity Unit Cost A10 $ B15 E60 G83 334 M90 1001 Q70 Total 4a. Which inventory method would be preferred for income tax purposes in periods of rising prices? ould be preferred for income tax purposes in periods of declining prices? FIFO LIFO Specific identification method CWeighted average method All work se Assignment Score: 1.81% Dm Appliances Cost of the Inventory Weighted Average Method Model Quantity Unit cost Total Cost A10 $ B15 E60 G83 134 M90 Q70 Total $ 4a. Which inventory method would be preferred for income tax purposes in periods of rising prices? 4b. Which inventory method would be preferred for income tax purposes in periods of declining prices? FIFO LIFO Specific identification method Assignn Weighted average method All work save - Tyne here to search C M 7