Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pyayar Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a

image text in transcribed
image text in transcribed
Pyayar Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $20 per unit. None of this inventory was sold in 2019. Relevant information for fiscal 2020 is as follows: Ending inventory units December 31, 2019 December 31, 2020, by purchase date -- Dec.2.2020 - July 20, 2020 100 100 30 130 During 2020, the following purchases and sales were made 200 Purchases Mar 15 July 20 Sept. 4 Dec 2 310 units at $24 310 units at $26 210 units at $28 100 units at $30 Sales Apr Aug NON Dec 270 10 20 18 12 160 270 Determine ending inventory under specific identification, !! Ending wentary S Determine ending inventory under FIFO Ending inventory $ Determine ending inventory under weighted average cost. Round weighted average cost per unit to 2 decimal places, s. 52.75 and final answer to decimal places.es 5.275) Ending inventory

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

Challenge Of Management Accounting Change

Authors: John Burns, Mahmoud Ezzamel, Robert Scapens

1st Edition

075066004X, 978-0750660044

More Books

Students also viewed these Accounting questions

Question

b. Where did they come from?

Answered: 1 week ago

Question

c. What were the reasons for their move? Did they come voluntarily?

Answered: 1 week ago

Question

5. How do economic situations affect intergroup relations?

Answered: 1 week ago