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work the problems - show all worl using FIFO , LIFO and weighted aversge methods. fill in T accounts-MY WORK IS LIKELY NOT CORRECT, PLEASE
work the problems - show all worl using FIFO , LIFO and weighted aversge methods.
fill in T accounts-MY WORK IS LIKELY NOT CORRECT, PLEASE WORK USING DIFFERENT METHODS AND SHOW WORK
Just like in class and on the recording, you are to work these problems using perpetual FIFO, LIFO | ||||||||
and weighted average (make a duplicate of the first completed worksheet to use to complete each of | ||||||||
the inventory methods, again just like I showed you in class and on the recordings) | ||||||||
1-May | Bought 7 DCDF001 for $50.00 each with cash | |||||||
3-May | Bought 4 CCF034 for $23.00 each with cash | |||||||
7-May | Sold 2 DCDF001 for $60.00 each for cash | |||||||
9-May | Bought 3 DCDF001 for $42.24 each with cash for cash | |||||||
11-May | Sold 4 DCDF001 for $75.11 each and 2 CCF034 for $51.88 each | |||||||
(check figure: FIFO Ending Inventory Balance = $222.72) | ||||||||
(check figure: LIFO Ending Inventory Balance = $246.00) | ||||||||
(check figure: Weighted Average Ending Inventory Balance = $234.36) | ||||||||
MAKE A T ACCOUNT FOR , INVENTORY, DCDF001,CCF034
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