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Salt and Mineral ( SAM ) began 2 0 2 4 with 3 2 0 units of its one product. These units were purchased near
Salt and Mineral SAM began with units of its one product. These units were purchased near the end of for $ each. During the month of January, units were purchased on January for $ each and another units were purchased on January for $ each. Sales of units and units were made on January and January respectively. There were units on hand at the end of the month. SAM uses a perpetual inventory system. Required: Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO. Complete the below table to calculate ending inventory and cost of goods sold for January using average cost. Complete this question by entering your answers in the tabs below. Complete the below table to calculate ending inventory and cost of goods sold for January using average cost Note: Round cost per unit to decimal places. Enter inventory reductions from sales as negative numbers. tabletablePerpetual AverageBeginning InventoryInventory on hand,Cost of Goods SoldtabletableNumber ofunitstableCost perunittableInventoryValuetableNumber ofunits soldtableAverage Cost perunittableCost ofGoods SoldPurchase January Subtotal Average Cost,Sale January Subtotal Average Cost,Purchase January Subtotal Average Cost,Sale January Total$
Salt and Mineral SAM began with units of its one product. These units were purchased near the end of for $ each. During the month of January, units were purchased on January for $ each and another units were purchased on January for $ each. Sales of units and units were made on January and January respectively. There were units on hand at the end of the month. SAM uses a perpetual inventory system.
Required:
Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO.
Complete the below table to calculate ending inventory and cost of goods sold for January using average cost.
Complete this question by entering your answers in the tabs below.
Complete the below table to calculate ending inventory and cost of goods sold for January using average cost Note: Round cost per unit to decimal places. Enter inventory reductions from sales as negative numbers.
tabletablePerpetual AverageBeginning InventoryInventory on hand,Cost of Goods SoldtabletableNumber ofunitstableCost perunittableInventoryValuetableNumber ofunits soldtableAverage Cost perunittableCost ofGoods SoldPurchase January Subtotal Average Cost,Sale January Subtotal Average Cost,Purchase January Subtotal Average Cost,Sale January Total$
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