Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following data are available on flow inventory during 2020 for the Dumber company which use perpetual system: Data # units purchased Unit cost data
The following data are available on flow inventory during 2020 for the Dumber company which use perpetual system:
Data | # units purchased | Unit cost | data | sold |
1/1/2020 | 9000 | 15 | 30/1/2020 | 12000@$40 |
10/1/2020 | 25000 | 19 | 01/02/2020 | (2000)@40 |
11/1/2020 | (4000) | 19 | 9/5/2020 | 15000@33 |
8/4/2020 | 10000 | 18.4 | 11/6/2020 | 7000@27 |
13/6/2020 | 14000 | 14.5 | 23/10/2020 | 9000@34 |
21/9/2020 | 6000 | 18.00 | 27/12/2020 | 8000@22 |
26/12/2020 | 3000 | 21.75 |
|
|
|
|
|
|
|
Required: Calculate the ending inventory under moving perpetual at FIFO and weighted average methods?
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