Foola, Inc. provided the following information regarding its inventory for the current year, its second year...
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Foola, Inc. provided the following information regarding its inventory for the current year, its second year of operations. (Click the icon to view the information.) Data Table Transaction Beginning inventory 1/1 Purchases, January 23 Purchases, February 14 Purchases, March 17 Units Sold - April 13 at $26 Purchases, May 5 Purchases, July 4 Units Sold - October 31 at $25 Purchases, November 22 Print Requirement Compute Foola's ending inventory and cost of goods sold under each of the following cost-flow methods assuming that the company uses a perpetual inventory system (round your answer for cost per unit to two decimal places): a. Moving Average b. FIFO Done Units 3,100 4,300 1,900 2,400 9,500 5,800 3,100 8,300 1,200 - Unit Cost $ 17.40 16.80 16.90 17.50 15.60 16.30 15.70 c. LIFO X Foola, Inc. provided the following information regarding its inventory for the current year, its second year of operations. (Click the icon to view the information.) Data Table Transaction Beginning inventory 1/1 Purchases, January 23 Purchases, February 14 Purchases, March 17 Units Sold - April 13 at $26 Purchases, May 5 Purchases, July 4 Units Sold - October 31 at $25 Purchases, November 22 Print Requirement Compute Foola's ending inventory and cost of goods sold under each of the following cost-flow methods assuming that the company uses a perpetual inventory system (round your answer for cost per unit to two decimal places): a. Moving Average b. FIFO Done Units 3,100 4,300 1,900 2,400 9,500 5,800 3,100 8,300 1,200 - Unit Cost $ 17.40 16.80 16.90 17.50 15.60 16.30 15.70 c. LIFO X
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a Moving Average Sate Beginning Inventory 11 Purchases January 23 Purchases February 14 Purchases Ma... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
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