25. (2 points) The following pertain to the cost of H's only inventory item: 200 units...
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25. (2 points) The following pertain to the cost of H's only inventory item: 200 units @ $52 per unit Inventory on hand, January 1 Purchases, January 8 Purchases, January 12 Purchases, January 20 Purchases, January 26 100 units @ S86 900 units @ $89 per unit 400 units @ $87 per unit 500 units @ $90 per unit per unit 2,100 Sales, January 5 Sales, January 9 Sales, January 17 Sales, January 22 Sales, January 30 50 units @ $200 per unit 150 units @ $200 per unit 200 units @ $200 per unit 700 units @ $200 per unit 600 units @ $200 per unit 1,700 (1,700 x $200 = Calculate COGS AND GP for January AND EI as of 01-31 under the following assumption: H uses perpetual LIFO EI: COGS: Gross profit: 25. (2 points) The following pertain to the cost of H's only inventory item: 200 units @ $52 per unit Inventory on hand, January 1 Purchases, January 8 Purchases, January 12 Purchases, January 20 Purchases, January 26 100 units @ S86 900 units @ $89 per unit 400 units @ $87 per unit 500 units @ $90 per unit per unit 2,100 Sales, January 5 Sales, January 9 Sales, January 17 Sales, January 22 Sales, January 30 50 units @ $200 per unit 150 units @ $200 per unit 200 units @ $200 per unit 700 units @ $200 per unit 600 units @ $200 per unit 1,700 (1,700 x $200 = Calculate COGS AND GP for January AND EI as of 01-31 under the following assumption: H uses perpetual LIFO EI: COGS: Gross profit:
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Answer rating: 100% (QA)
Answer Explanation Last in first out Ending Inventory of units Unit Cost Total Cost 200 5200 1040000 ... View the full answer
Related Book For
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st edition
Authors: David M. Maloney, William H. Hoffman, Jr. , William A. Raabe, James C. Young
Posted Date:
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