Answered step by step
Verified Expert Solution
Question
1 Approved Answer
QUESTION 33 Refer to the Table you have downloaded. The cost of the ending inventory using the LIFO method is A. 15,900 B. 11,300 C.
QUESTION 33
Refer to the Table you have downloaded. The cost of the ending inventory using the LIFO method is
A. | 15,900 | |
B. | 11,300 | |
C. | 13,100 | |
D. | 13,930 |
QUESTION 34
Refer to the Table you jhave downloaded. The cost of the ending inventory using the FIFO method is
A. | 15,900 | |
B. | 11,300 | |
C. | 13,100 | |
D. | 13,930 |
QUESTION 35
Using the Table you have downloaded: The cost of goods available for sale is
A. | $69,650 | |
B. | $100,000 | |
C. | $30,350 | |
D. | $169,650 |
Unit Cost 0.50 Total Cost 3,500 The Harper entity showed inventory as follows: Units Beginning Inventory 7,000 Purchases April 30,000 45,000 June 18,000 Totals 100,000 May 0.60 0.75 0.80 18,000 33,750 14,400 69,650 The ending inventory consists of 20,000 units. 3,000 of the ending inventory units are from the beginning inventory, 10,000 are from the April purchase, and 7,000 are from the June purchase
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