Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

URGENT HELPP!!! Periodic inventory by three methods begin{tabular}{lrrrrr} Model & Inventory, January 1 & Purchases Invoices 1st & Purchases Invoices 2nd & Purchases Invoices 3rd

URGENT HELPP!!!

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Periodic inventory by three methods \begin{tabular}{lrrrrr} Model & Inventory, January 1 & Purchases Invoices 1st & Purchases Invoices 2nd & Purchases Invoices 3rd & Inventory Count, December 31 \\ \hline A10 & & 4 at $26 & 4 at $29 & 4 at $32 & 5 \\ B15 & 8 at $90 & 4 at 81 & 3 at 87 & 6 at 94 & 7 \\ E60 & 3 at 71 & 3 at 61 & 15 at 64 & 9 at 66 & 5 \\ G83 & 7 at 221 & 6 at 229 & 5 at 239 & 10 at 238 & 9 \\ J34 & 12 at 79 & 10 at 81 & 16 at 88 & 16 at 89 & 5 \\ M90 & 2 at 124 & 2 at 126 & 3 at 144 & 3 at 146 & 5 \\ Q70 & 5 at 166 & 4 at 176 & 4 at 181 & 7 at 186 & 8 \end{tabular} Required: 1. Determine the cost of the inventary an Decomber 31 by the first-in, first-put method. RECENTLY first. 2. Determine the cost of the inveritary on December 31 by the last-in, first-out method. Determine the cost of the inventory on December 31 by the weighted average cost method. Dymac Appliances Cost of the Inventory-Weighted Average Method

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

Fundamentals of Financial Accounting

Authors: Fred Phillips, Robert Libby, Patricia Libby

4th edition

978-0073369709, 73369705, 78025370, 978-0077444846, 77444841, 978-0078025372

More Books

Students also viewed these Accounting questions