Ayayai Distribution markets CDs of numerous performing artists. At the beginning of March, Ayayai had in...
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Ayayai Distribution markets CDs of numerous performing artists. At the beginning of March, Ayayai had in beginning inventory 2,490 CDs with a unit cost of $7. During March, Ayayai made the following purchases of CDs. March 5 1,910 $8 March 21 4,880 @ $10 March 13 3,760 $9 March 26 2,050 $11 During March, 12,560 units were sold. Ayayai uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale 24 137900 Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (For calculation purposes, round average cost per unit to 3 decimal places, eg. 5.275. Round answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory $4 The cost of goods sold %24 Ayayai Distribution markets CDs of numerous performing artists. At the beginning of March, Ayayai had in beginning inventory 2,490 CDs with a unit cost of $7. During March, Ayayai made the following purchases of CDs. March 5 1,910 $8 March 21 4,880 @ $10 March 13 3,760 $9 March 26 2,050 $11 During March, 12,560 units were sold. Ayayai uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale 24 137900 Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (For calculation purposes, round average cost per unit to 3 decimal places, eg. 5.275. Round answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory $4 The cost of goods sold %24
Expert Answer:
Answer rating: 100% (QA)
A Qty Rate Total Beginning 2490 7 17430 March 5 1910 8 15280 March 13 3760 9 33840 March 21 4880 ... View the full answer
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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