A company reports the following beginning inventory and two purchases for the month of January. On...
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A company reports the following beginning inventory and two purchases for the month of January. On company sells 410 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Date Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs the FIFO method. January 1 January 9 Total January 9 January 25 Total January 25 January 26 Total January 26 Goods purchased Cost per unit # of units Units 370 80 110 #of units sold Unit Cost $ 3.60 3.80 3.90 Perpetual EIFO: Cost of Goods Sold Cost per Cost of Goods unit Sold Inventory Balance Cost per unit # of units Inventory Balance $ 0.00 Required information [The following information applies to the questions displayed below.] A company reports the following beginning inventory and two purchases for the month of January. On Jar company sells 410 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Date January 1 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are the LIFO method. January 9 Total January 9 January 25 Total January 25 January 26 Total January 26 Goods purchased # of units Units 370 80 Cost per # of units unit sold 110 Unit Cost $ 3.60 3.80 3.90 Perpetual LIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold # of units Inventory Balance Cost per unit < Prev Inventory Balance 5 of 10 0 # Required information [The following information applies to the questions displayed below] A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 410 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 January 1 Date January 9 Average cost January 9 ssume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based he weighted average method. ote: Round your per unit costs to 2 decimal places. January 25 Average cost January 25 January 26 Total January 26 Goods purchased Cost per unit Units 370 #of units. 80 110 # of units sold Unit Cost $ 3.60 3.80 3.90 Weighted Average - Perpetual: Cost of Goods Sold Cost per unit Cost of Goods Sold #of units Inventory Balance Cost per unit Inventory Balance 0.00 A company reports the following beginning inventory and two purchases for the month of January. On company sells 410 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Date Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs the FIFO method. January 1 January 9 Total January 9 January 25 Total January 25 January 26 Total January 26 Goods purchased Cost per unit # of units Units 370 80 110 #of units sold Unit Cost $ 3.60 3.80 3.90 Perpetual EIFO: Cost of Goods Sold Cost per Cost of Goods unit Sold Inventory Balance Cost per unit # of units Inventory Balance $ 0.00 Required information [The following information applies to the questions displayed below.] A company reports the following beginning inventory and two purchases for the month of January. On Jar company sells 410 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Date January 1 Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are the LIFO method. January 9 Total January 9 January 25 Total January 25 January 26 Total January 26 Goods purchased # of units Units 370 80 Cost per # of units unit sold 110 Unit Cost $ 3.60 3.80 3.90 Perpetual LIFO: Cost of Goods Sold Cost per unit Cost of Goods Sold # of units Inventory Balance Cost per unit < Prev Inventory Balance 5 of 10 0 # Required information [The following information applies to the questions displayed below] A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 410 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 January 1 Date January 9 Average cost January 9 ssume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based he weighted average method. ote: Round your per unit costs to 2 decimal places. January 25 Average cost January 25 January 26 Total January 26 Goods purchased Cost per unit Units 370 #of units. 80 110 # of units sold Unit Cost $ 3.60 3.80 3.90 Weighted Average - Perpetual: Cost of Goods Sold Cost per unit Cost of Goods Sold #of units Inventory Balance Cost per unit Inventory Balance 0.00
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Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
Posted Date:
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