Refer to the information in QS 6-1 and assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on LIFO. (Round per unit costs to three decimals, but inventory balances to thedollar.)
Answer to relevant QuestionsRefer to the information in QS 6-1 and assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on weighted average.Dooling Store’s inventory is destroyed by a fire on September 5, 2011. The following data for year 2011 are available from the accounting records. Estimate the cost of the inventory destroyed.Jan. 1 inventory . . . . . . . ...Refer to the data in Exercise 6-5. Assume that ending inventory is made up of 100 units from the March 14 purchase, 120 units from the July 30 purchase, and all 600 units from the October 26 purchase. Using the specific ...Candis Gifts reported the following current-year data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 300 units—100 from each of the last three purchases. Determine ...Botch Corp. sold 5,500 units of its product at $45 per unit in year 2011 and incurred operating expenses of $6 per unit in selling the units. It began the year with 600 units in inventory and made successive purchases of its ...
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