Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Units Unit Cost Total Cost Balance at 1/1 5,000 $9.00 $45,000 4,000 9.50 $38,000 6,000 Purchase 1/5 Sales: 1/8 Purchases 1/28 Sales: 1/30 8,000 9.65

image text in transcribed
Units Unit Cost Total Cost Balance at 1/1 5,000 $9.00 $45,000 4,000 9.50 $38,000 6,000 Purchase 1/5 Sales: 1/8 Purchases 1/28 Sales: 1/30 8,000 9.65 $77,200 2.000 Ending Inventory 1/31 2,000 Select all correct statements below, incorrect choices are penalized. Round Inventory & Cost of Goods Sold to whole dollars. Ending inventory at January 31, using the perpetual FIFO inventory method equals $19,300. Ending inventory at January 31, using the perpetual FIFO inventory method equals $18,000. Ending inventory at January 31, using the perpetual inventory method equals $19,067. Ending inventory at January 31, using the perpetual FIFO inventory method equals $18,847, The COST OF GOODS SOLD ON 1/31, using the perpual FIFO inventory method equals $140,900. The COST OF GOODS SOLD ON 1/31, using the perpetual FIFO inventory method equals $ 142,200. The COST OF GOODS SOLD on 1/31, using the perpetual FIFO inventory method equals $ 141,133. The COST OF GOODS SOLD on 1/31, using the perpetual FIFO inventory method equals $ 141,353

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Payroll Accounting 20

Authors: Bernard J. Bieg, Judith A. Toland

26th Edition

1337268798, 9781337268790

More Books

Students also viewed these Accounting questions