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Writing assignment. 23% . Drive 1:16 PM Wed Oct 23 NOTE 1. your solution is to be submitted via Blackboard by the deadline indicated there
Writing assignment.
23% . Drive 1:16 PM Wed Oct 23 NOTE 1. your solution is to be submitted via Blackboard by the deadline indicated there are two parts to this assignment 2. Part 1: Inventory Methods and Cost Flow Assumptions The following information regarding inventory was taken from Top Hat Retail Company's records: Unit Cost Units Balance at 8/1 $25 100 $30 Purchase 8/5 150 Purchase 8/11 200 $35 Sale 8/4 60 Sale 8/14 100 Sale 8/17 210 Required Determine the following: (a) The number of units in ending inventory (b) Cost of goods available for sale (c) Cost of goods sold under weighted average (periodic) (d) Ending inventory under weighted average (periodic) (e) Ending inventory under FIFO periodic (f) Cost of goods sold under FIFO perpetual (g) Cost of goods sold under LIFO perpetual (h) Ending inventory under LIFO periodic Part 2: LCNRV Em Company maintains an inventory of 5 products. Per-unit information on each is provided in the table below Costs Historical Sellin Produc t Cost of g Price Disposa $5.00 $8.00 A $2.00 5.00 8.00 2.00 C 5.00 7.00 1.00 2.00 7.00 1.00 8.00 10.00 E 4,00 Required Using the LCNRV method, determine the per-unit amount at which each product should be carried in Em's ending inventory 23% . Drive 1:16 PM Wed Oct 23 NOTE 1. your solution is to be submitted via Blackboard by the deadline indicated there are two parts to this assignment 2. Part 1: Inventory Methods and Cost Flow Assumptions The following information regarding inventory was taken from Top Hat Retail Company's records: Unit Cost Units Balance at 8/1 $25 100 $30 Purchase 8/5 150 Purchase 8/11 200 $35 Sale 8/4 60 Sale 8/14 100 Sale 8/17 210 Required Determine the following: (a) The number of units in ending inventory (b) Cost of goods available for sale (c) Cost of goods sold under weighted average (periodic) (d) Ending inventory under weighted average (periodic) (e) Ending inventory under FIFO periodic (f) Cost of goods sold under FIFO perpetual (g) Cost of goods sold under LIFO perpetual (h) Ending inventory under LIFO periodic Part 2: LCNRV Em Company maintains an inventory of 5 products. Per-unit information on each is provided in the table below Costs Historical Sellin Produc t Cost of g Price Disposa $5.00 $8.00 A $2.00 5.00 8.00 2.00 C 5.00 7.00 1.00 2.00 7.00 1.00 8.00 10.00 E 4,00 Required Using the LCNRV method, determine the per-unit amount at which each product should be carried in Em's ending inventoryStep by Step Solution
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