Question: Chapter 6 Homework Note: All homework assignments must be submitted through the Blackboard course site. Chapter 6 Questions 1 through 6 are based on the
Chapter 6 Homework Note: All homework assignments must be submitted through the Blackboard course site. Chapter 6 Questions 1 through 6 are based on the information provided below. Listed below are unit and unit cost information for Triston Company. Triston uses the periodic inventory system for inventory valuation January 1 Beginning inventory March 10 Purchase August 30 Purchase December 12 Purchase 90 units at $54 each 112 units at $55 each 100 units at $58 each 98 units at $60 each During the year, the Company sold 296 units; there are 104 units on hand at the end of the year. Chapter 6 Question 1: (1 point) Required: Calculate the cost of the ending inventory using FIFO and the periodic inventory system. Omit $ signs. Chapter 6 Question 2: (1 point) Required: Calculate the cost of goods sold using FIFO and the periodic inventory system. Omit $ signs. Chapter 6 Question 3: (1 point) Required: Calculate the cost of the ending inventory using LIFO and the periodic inventory system. Omit $ signs. Chapter 6 Question 4: (1 point) Required: Calculate the cost of goods sold using LIFO and the periodic inventory system. Omit $ signs. Chapter 6 Question 5: (0.5 point) Required: Calculate the cost of the ending inventory using weighted average cost method and the periodic inventory system. Round average cost per unit to 2 decimal places; and then express your final answers in whole dollars Omit $ signs. Chapter 6 Question 6: (0.5 point) Required: Calculate the cost of goods sold using the weighted average cost method and the periodic inventory system. Omit $ signs
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
