{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T09:52:53-04:00", "answer_date": "2024-06-28 09:52:53", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4289427", "url": "\/study-help\/questions\/watson-pty-ltd-began-operations-on-1-july-it-uses-4289427", "question_creation_date_js": "2024-06-28T09:52:53-04:00", "question_creation_date": "Jun 28, 2024 09:52 AM", "meta_title": "[Solved] Watson Pty Ltd began operations on 1 July | SolutionInn", "meta_description": "Answer of - Watson Pty Ltd began operations on 1 July. It uses a perpetual inventory system. During July the business had the foll | SolutionInn", "meta_keywords": "watson,pty,ltd,began,operations,1,july,perpetual,inventory,system,business,purchases", "question_title_h1": "Watson Pty Ltd began operations on 1 July. It uses a perpetual inventory system. During July the business had the following purchases and sales: Purchases", "question_title": "Watson Pty Ltd began operations on 1 July. It uses a perpetual", "question_title_for_js_snippet": "Watson Pty Ltd began operations on 1 July It uses a perpetual inventory system During July the business had the following purchases and sales Purchases Date Units Unit cost Sales units July 1 S $ 90 6 3 11 4 $ 99 14 3 21 3 $106 27 4 Required (a) Use an EXCEL spreadsheet to reproduce the above table and determine the ending inventory under a perpetual inventory system using (I) FIFO and (2) average cost (It is advisable to prepare a separate table for each method ) (b) Explain which costing method produces the highest cost allocation to ending inventory and what difference each method would make to the prot reported by Watson Pty Ltd ' I Commentary should be brief (approx 75 100 words)", "question_description": "

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\"image<\/div><\/div><\/div> Watson Pty Ltd began operations on 1 July. It uses a perpetual inventory system. During July the business had the following purchases and sales: Purchases Date Units Unit cost Sales units July 1 S $ 90 6 3 11 4 $ 99 14 3 21 3 $106 27 4 Required: (a) Use an EXCEL spreadsheet to reproduce the above table and determine the ending inventory under a perpetual inventory system using (I) FIFO and (2) average cost (It is advisable to prepare a separate table for each method.) (b) Explain which costing method produces the highest cost allocation to ending inventory and what difference each method would make to the prot reported by Watson Pty. Ltd.'?I Commentary should be brief (approx 75-100 words)", "transcribed_text": "", "related_book": { "title": "Principles Of Accounting Volume 2 Managerial Accounting", "isbn": "0357364805, 9780357364802", "edition": "1st Edition", "authors": "OpenStax", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/2022\/04\/626124ab6f7b1_547626124ab246f0.jpg", "uri": "\/textbooks\/principles-of-accounting-volume-2-managerial-accounting-1st-edition-9780357364802", "see_more_uri": "" }, "free_related_book": { "isbn": "3540552103", "uri": "\/textbooks\/stacs-92-9th-annual-symposium-on-theoretical-aspects-of-computer-science-cachan-france-february-13-15-1992-proceedings-1992nd-edition-978-3540552109-313175", "name": "STACS 92 9th Annual Symposium On Theoretical Aspects Of Computer Science Cachan France February 13 15 1992 Proceedings", "edition": "1992nd Edition" }, "question_posted": "2024-06-28 09:52:53", "see_more_questions_link": "\/study-help\/questions\/business-human-resource-management-2020-May-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/oxmoor-manufacturing-co-expects-to-make-40000-chairs-during-the", "description": "Oxmoor Manufacturing Co. expects to make 40,000 chairs during the 2013 accounting period. 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He was licensed by the state of Hawaii to operate his boat in Hanalei Bay. The U . S . 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