Inventories and purchases for the month of June for Glow Light Ltd are as follows Date Detail Units Cost per unit Total 1 Jun 3 Jun 15 Jun 20 Jun 30 Jun Inventory Purchase Purchase Purchase Inventory 9000 8500 13000 15500 18000 $18 $19 $20 $21 $162000 161 500 260000 325 500 Required Determine the c...

1 Cost of sales FIFO From inventory 1 June 9 000 units 1800 162 000 F ...

Inventories and purchases for the month of June for Glow Light Ltd are as follows: Date Detail

Question:

Inventories and purchases for the month of June for Glow Light Ltd are as follows:

Date

Detail

Units

Cost per unit

Total

1-Jun

3-Jun

15-Jun

20-Jun

30-Jun

Inventory

Purchase

Inventory

9000

8500

13000

15500

18000

$18

$19

$20

$21

—

$162000

161 500

260000

325 500

—

Required

Determine the cost of sales for the month under each of the following cost flow assumptions, based on the periodic inventory system:

1. FIFO

2. Weighted average.

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Accounting

ISBN: 978-1118608227

9th edition

Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett

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Question Posted: Jun 25, 2019 05:05 AM

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Inventories and purchases for the month of June for Glow Light Ltd are as follows: Date Detail

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Accounting

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