Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. CROWD Co. Date Units $/Unit 5,25 S/Total 525,00
Question 3) (30 points). At December 31, 2019 CROWD Co. has the following inventory information for 2019. CROWD Co. Date Units $/Unit 5,25 S/Total 525,00 100 $ Beginning Inventory Purchases: Jan. 3 300 5.30 1.590,00 1 June 20 150 5,60 840,00 Sept. 15 200 5,80 1.160,00 Nov. 29 5,90 885,00 150 ? Goods Available for Sale ? Ending Inventory 350 ? Cost of Goods Sold ? ? Required : The company is using periodic inventory method and FIFO. Calculate the following indicated as '?' in the above table: a) Goods available for sale in number of units Value ($ amount) of goods available for sale Ending inventory in number of units Value ($ amount) of ending inventory Cost of good sold in number of units Value ($ amount) of COGS (answers without detail computation will not be considered)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started