B The Narra Manufacturing Co. maintains its inventory using the stock cards. Here are the following...

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B The Narra Manufacturing Co. maintains its inventory using the stock cards. Here are the following data for the month of June 200D. June As of May 31, 200D the inventory item consists of the following: 20 units @ P60 2 8 9 12 14 17 22 25 27 30 Purchased of 50 units @ P63 arrived Sold 35 units of inventory Sold 15 units of its inventory Received new orders of 60 units at P65 Issued 20 units of inventory to a customer 35 additional units were sold New orders of inventory were received with 50 units @ P68 Sold 40 units of inventory to a new customer Received 35 units of materials ordered @ P69 Sold 40 units of inventory REQUIRED: COMPUTE FOR THE ENDING INVENTORY AND COST OF GOODS SOLD USING (A) FIFO METHOD (B) FIFO WEIGHTED AVERAGE (C) FIFO MOVING AVERAGE I B The Narra Manufacturing Co. maintains its inventory using the stock cards. Here are the following data for the month of June 200D. June As of May 31, 200D the inventory item consists of the following: 20 units @ P60 2 8 9 12 14 17 22 25 27 30 Purchased of 50 units @ P63 arrived Sold 35 units of inventory Sold 15 units of its inventory Received new orders of 60 units at P65 Issued 20 units of inventory to a customer 35 additional units were sold New orders of inventory were received with 50 units @ P68 Sold 40 units of inventory to a new customer Received 35 units of materials ordered @ P69 Sold 40 units of inventory REQUIRED: COMPUTE FOR THE ENDING INVENTORY AND COST OF GOODS SOLD USING (A) FIFO METHOD (B) FIFO WEIGHTED AVERAGE (C) FIFO MOVING AVERAGE I

Answer rating: 100% (QA)

A Under FIFO Method As of May 31 200D Inventory 20 units P60 June 2 Purchased 50 units P63 Total inventory 20 50 70 units June 8 Sold 35 units Remaining inventory 70 35 35 units June 9 Sold 15 units R... View the full answer