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The last two bottom boxes I can't figure out how to find what goes into those boxes. The video isn't very explanatory. 3 QS 6-5
The last two bottom boxes I can't figure out how to find what goes into those boxes. The video isn't very explanatory.
3 QS 6-5 Perpetual: Inventory costing with LIFO LO P1 A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 410 units. Ending inventory at January 31 totals 150 units 2.77 Units Unit Cost Beginning inventory on anuary 1 Purchase on Jenuory 9 Purchase on January 25 $ 3.60 119 3.90 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending Inventory when costs are assigned hased on LIFO Cost per units Date ! "of units Cost per Cost of Goods # of units | Cost per Inventory Balance unit unit Sold unit sold 370|@($ 3.50!=| $ 1.332 370|@|3.60.| $ 1.332 304 S 1,636 January 1 January 9 380 80|@| $ 3.80 = @5 360 80|@ ' $ 3.801= 1101@r $ 3.90! 110 3.90 360S 1,332 304 429 $ 2,065 January 2 70 January 26 11S3.90 5 429 3.90 304 ol@| 3.80 = ers 3.601 = 3.60 Totals 3 733 RtHK 30f 10 Next >Step by Step Solution
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