Question: 1a. Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of merchandise sold for the month of November
1a. Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of merchandise sold for the month of November of Beamer Company using the data below. $ Value Per Units Nov. 1 Purchased 320 $ 40 11 Purchased 200 24 45 12 Sold 250 22 Purchased 220 47 47 23 Sold 170 1a. Calculate the following: Inventory valuation at the end of November Calculate the cost of merchandise sold for November 1b. If the units were sold on account for $100 each, what would the journal entry(ies) be for the November 23 sale? 1c. Assuming PERIODIC inventory, what would be the weighted average unit cost used to calculate Cost of Goods Sold and/or ending inventory
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