Massive Inventory Problem BARTCO sells custom made light swords. While many are custom made and no...
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Massive Inventory Problem BARTCO sells custom made light swords. While many are custom made and no inventory is kept, one model is s one model is standardized and kept in stock. It purchases this item from a Vietnamese supplier. Data for January are as follows: Date: Sale/Purchase # of Units Cost Per Unit 1st Beginning Inventory: 100 units $475 per unit. 5rd Purchase 200 units 8th Purchase 100 units 12th Sale 200 units 15th Purchase 150 units. 20th Sale 100 units 25th Purchase 100 units 27th Purchase 200 units 30th Sale 400 units $477 per unit. $478 per unit. $1,200 per unit. $485 per unit. $1,500 per unit. $479 per unit $480 per unit. $2,000 per unit. 1st Purchase 100 units $481 per unit. 1. Using FIFO, calculate cost of goods sold for the month. 2. Using FIFO, calculate the value of the ending inventory. 3. Using LIFO, calculate the cost of goods sold of the January 12th sale. Massive Inventory Problem BARTCO sells custom made light swords. While many are custom made and no inventory is kept, one model is s one model is standardized and kept in stock. It purchases this item from a Vietnamese supplier. Data for January are as follows: Date: Sale/Purchase # of Units Cost Per Unit 1st Beginning Inventory: 100 units $475 per unit. 5rd Purchase 200 units 8th Purchase 100 units 12th Sale 200 units 15th Purchase 150 units. 20th Sale 100 units 25th Purchase 100 units 27th Purchase 200 units 30th Sale 400 units $477 per unit. $478 per unit. $1,200 per unit. $485 per unit. $1,500 per unit. $479 per unit $480 per unit. $2,000 per unit. 1st Purchase 100 units $481 per unit. 1. Using FIFO, calculate cost of goods sold for the month. 2. Using FIFO, calculate the value of the ending inventory. 3. Using LIFO, calculate the cost of goods sold of the January 12th sale.
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1 Using FIFO FirstIn FirstOut we assume that the first units purchased are the first ones sold Lets ... View the full answer
Related Book For
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
Posted Date:
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