Question
The beginning inventory was 600 units at a cost of $20 per unit. Goods available for sale during the year were 2,600 units at a
The beginning inventory was 600 units at a cost of $20 per unit. Goods available for sale during the year were 2,600 units at a total cost of $57,600. In May, 1,200 units were purchased at a total cost of $26,400. The only other purchase transaction occurred during October. Ending inventory was 1,100 units.
Required:
a. Calculate the number of units purchased in October and the cost per unit purchased in October. This Chart has to be filled
:
b-1. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. (Enter all values as a positive value.) This chart the yellow boxes need to be filled!!
b-2. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. (Enter all values as a positive value.) Yellow boxes need to be filled
Purchased in October Number of units Cost per unit
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