Question
The following information regarding inventory was taken from Top Hat Retail Company's records: Show work. Unit Cost Balance at 8/1 150 $24 Purchase 8/5 100
The following information regarding inventory was taken from Top Hat Retail Company's records: Show work.
Unit Cost
Balance at 8/1 150 $24
Purchase 8/5 100 $28
Purchase 8/11 250 $32
Purchase 8/20 150 $33
Sale 8/4 80
Sale 8/14 140
Sale 8/17 220
Required:
Determine the following:
(a) The number of units in ending inventory
(b) Cost of goods available for sale
(c) Cost of goods sold under weighted average periodic
(d) Ending inventory under weighted average periodic
(e) Ending inventory under FIFO periodic
(f) Cost of goods sold under FIFO perpetual
(g) Ending inventory under FIFO perpetual
(h) Cost of goods sold under LIFO perpetual
(i) Ending inventory under LIFO periodic
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