ACCT $3331$ Homework assignment

Due Tuesday, October $29,2024$

Inventory cost flow assumptions

You had beginning inventory, purchases and sales during the month of January as follows:

Determine Cost of Goods Sold and Ending Inventory using each of the following assumptions. Write your answers below but.

SHOW YOUR WORK!!

Answers should be in Dollars, not Units

Perpetual

FIFO

LIFO

Periodic

FIFO

LIFO

Average

Cost of Goods Sold

Ending inventory

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$$ Aber Company manufactures one product. On December $31,20$X$0,$ Aber adopted the dollarvalue LIFO inventory method. The inventory on that date using the dollar$-$value LIFO inventory method was $\backslash (\backslash$$ $900,000\backslash ).$ Inventory data are as follows:

Instructions Compute the inventory at December $31,20$X$1,20$X$2,$ and $20$X$3,$ using the dollarvalue LIFO method for each year. ACCT $3331$ Homework assignment

Due Tuesday, October $29,2024$

Inventory cost flow assumptions

You had beginning inventory, purchases and sales during the month of January as follows:

Determine Cost of Goods Sold and Ending Inventory using each of the following assumptions. Write your answers below but.

SHOW YOUR WORK!!

Answers should be in Dollars, not Units

Perpetual

FIFO

LIFO

Periodic

FIFO

LIFO

Average

Cost of Goods Sold

Ending inventory

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