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The following information pertains to Company A's Year 1 inventory activities: Date Transaction Number of Units Purchase price per unit Sale price per unit January
The following information pertains to Company A's Year 1 inventory activities:
Date | Transaction | Number of Units | Purchase price per unit | Sale price per unit |
January 1 | Beginning balance | 90 | $40 | |
April 11 | Sale | 50 | $70 | |
May 15 | Purchase | 160 | $65 | |
July 25 | Sale | 30 | $75 |
For each of the following independent assumptions regarding Company A's inventory cost flow methods, click on the associated designated cell and enter the applicable dollar value of inventory that would be reported in Company A's December 31, Year 1, balance sheet. Enter all amounts as positive values. Round all amounts to the nearest dollar. If the amount is zero, enter a zero (0).
Cost Flow Assumptions | Amount |
1. First-in, first-out (FIFO) periodic | |
2. Moving average | |
3. Weighted average | |
4. Last-in, first-out (LIFO) periodic | |
5. First-in, first-out (FIFO) perpetual |
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