Question: Morocco Imports provided the following information regarding its inventory for the current year, its second year of operations. Compute Moroccos ending inventory and cost of
.png)
Compute Morocco€™s ending inventory and cost of goods sold under each of the following cost- flow assumptions assuming a perpetual inventory system. (Round your answer for cost per unit to two decimal places.)
a. Moving Average
b. FIFO
c. LIFO
Sales in Units Transaction Units Unit Cost Total Cost Eeginning inventory 1/1 35,000 $3.50 S 122,500 February 8 March 15 April 10 45.500 100,250 62,000 242,750 3.60 3.80 4.10 163,800 380,950 254,200 S 921,450 Subtotal Units Sold April 22 at $12 155,000 May 9 June 19 81.000 28.000 351,750 4.35 4.56 352,350 127690 $1,401,480 Subtotal Units Sold August 11 at $14 September 20 October 30 November 17 115,500 15,000 41,000 8,000 415,750 4.75 4.85 4.90 71.250 198,850 39,200 $1.710,780 Subtotal Units Sold December 21 at $16 21,500 415,750 (292.000) 123,750 Total available for sale Total units sold Fndina invantarv
Step by Step Solution
3.40 Rating (181 Votes )
There are 3 Steps involved in it
a Moving average perpetual UNITS PURCHASEDSOLD UNIT COST CUMULATIVE UNITS COST CUMULATIVE COST AVERAGE COST PER UNIT TRANSACTION Beginning Inventory 3... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
578-B-A-D-I-D (636).docx
120 KBs Word File
