Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 7 of 7 4 / 10 View Policies Current Attempt in Progress Oriole Co. began operations on July 1 It uses a perpetual inventory
Question 7 of 7 4 / 10 View Policies Current Attempt in Progress Oriole Co. began operations on July 1 It uses a perpetual inventory system. During July, the company had the following purchases and sales Purchases Date Units Unit Cosi Sales Units July 1 4 $ 140 July 6 3 July 11 7 $150 July 14 July 21 8 $161 July 27 5 Hal Calculate the average cost per unit at July 1 6. 11 14 218 27. Round answers to 3 decimal places a $105.501) Average cost for each unit July 1 S July 6 $ July 11 $ July 14 S July 21 S July 217 S e Textbook and Media Save for later Attempts: 0 of 5 used Submit Ansure Question 7 of 7 L/10 View Policies Current Attempt in Progress Oriole Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Date Units Unit Cost Sales Units July 1 $140 July 6 3 JUN 11 $150 July 14 July 211 B $161 July 27 la2 a2 Determine the ending inventory under a perpetual inventory system using 1 FIFO (2) moving average cost and 3) LIFO. (Round average-akt per unit to 3 decimal places 12.520 and Minar answer to decimal places eg: 1 250 FIFO MOVING-AVERAGE The ending inventory under a perpetual inventory system S $ e Textbook and Media Save to Attempts: 0 of 5 used Subalt Answer Question 7 of 7 10 View Policies Current Attempt in Progress Oriole do began operations on July 1. it uses e perpetual inventory system. During July, the company had the following purchases and sales Purchases Date Units Unit Cost Sales Units July 1 4 $140 July 6 July 11 IT $150 July 14 July 21 8 $161 July 27 (1) (22) Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving average cost and (3) LIFO. (Round awerage-cost per unit to 3 decimal places g. 12920 and final answer to 0 decimal places, eg, 1250 FIFO MOVING-AVERAGE LIFO S S IS petual inventory system eTextbook and Media Borate Attempts: 0 of 5 used Subalit Answer Question 7 of 7
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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