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SHOW YOUR COMPLETE SOLUTION. MUCH BETTER IF YOU'LL WRITE THE SOLUTION ON A PAPER. pre The Luna Corporation made the following materials purchased and issued during the month of January. Inventory: Receipts: Issuances: January 1 January 10 January 25 January 15 January 27 1,000 units 8,000 8,500 8,500 8,000 1. Periodic system a. FIFO method b. Weighted average method @ @ Required: The cost of materials used and the cost assigned to the inventory at end of the month using 2. Perpetual system a. FIFO method b. Moving average method P 11.00 12.00 11.50 SHOW YOUR COMPLETE SOLUTION. MUCH BETTER IF YOU'LL WRITE THE SOLUTION ON A PAPER. pre The Luna Corporation made the following materials purchased and issued during the month of January. Inventory: Receipts: Issuances: January 1 January 10 January 25 January 15 January 27 1,000 units 8,000 8,500 8,500 8,000 1. Periodic system a. FIFO method b. Weighted average method @ @ Required: The cost of materials used and the cost assigned to the inventory at end of the month using 2. Perpetual system a. FIFO method b. Moving average method P 11.00 12.00 11.50
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Inventory Cost Methods Periodic System FIFO Method Step 1 Calculate the cost of materials issued in January based on the FIFO method On January 15 8500 units were issued These were the first units pur... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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