Question: Answer and show your solution Problem 10-10 (AICPA Adapted) the During the month of January, Metro Company record.j following information pertaining to inventory: Total cost

Answer and show your solution
 Answer and show your solution Problem 10-10 (AICPA Adapted) the During

Problem 10-10 (AICPA Adapted) the During the month of January, Metro Company record.j following information pertaining to inventory: Total cost Units Unit cost Units Balance on 1/ 10,000 01,000,000 Purchased on 1/7 6,000 3 1,800,0001000 Sold on 1/20 Purchased 1/25 4,000 500 2000,000 7,000 11,000 9,000 Under the weighted average method, what amount shoui Metro report as inventory on January 31? a. 2,640,000 b. 3,225,000 c. 3,300,000 d. 3,900,000 Problem 10-11 (IAA) Extreme Company showed the following information: 31 Sale July31 Sale December 31 Sale January 1 Beginning 10,000 5,000 April 1 Purchase 15,000 18,000 October 1 Purchase 25,000 12,000 Units Unit cost Total cost 400,000 750,000 1,500,000 40 50 60 Under the weighted average method, what amount should be reported as inventory on December 31? a. 900,000 b. 795,000 . 886,100 d. 750,000 232

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!