Check e Nequired intormation The following mformanon applies to the questions displayed below Ferris Company began...
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Check e Nequired intormation The following mformanon applies to the questions displayed below Ferris Company began January with 7,000 units of its principal product. The cort of each unit is $6. Merchandise transactions for the month of Janua y are as follows: Purchases Unit Cost Total Cost $42,000 Date of Purchase Units Jan. 10 6,000 7,000 Jan. 18 56, 000 Totais * Includes purchase price and cost of freight. Sales Date of Sale Units 3,000 4,000 Jan. 12 Jan. 20 Total 10,000 10,000 units were on hand at the end of the month. Check my work 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round everage cost per unit to 4 decimal places. Enter sales with a negative sign.) 15 Sold T ntory Vahn For unts of unle unit per unit GIods Soul 6.0000 S Beginning Inventory Sale - January 5 7,000 42.000 7,000 6.0000 Subtotal Average Cost Purchase January 10 42.000 42,000 6,000 7.0000 6.6000 Subtotal Average Cost Sale January 12 Subtotal Average Cost Purchase January 18 Subtotal Average Cost Sale January 20 13,000 84,000 13,000 6.6000 84.000 7.000 8.0000 56,000 20,000 7.3000 140,000 6,000 26,000 7 3000 43,800 Total 183.800 Check e Nequired intormation The following mformanon applies to the questions displayed below Ferris Company began January with 7,000 units of its principal product. The cort of each unit is $6. Merchandise transactions for the month of Janua y are as follows: Purchases Unit Cost Total Cost $42,000 Date of Purchase Units Jan. 10 6,000 7,000 Jan. 18 56, 000 Totais * Includes purchase price and cost of freight. Sales Date of Sale Units 3,000 4,000 Jan. 12 Jan. 20 Total 10,000 10,000 units were on hand at the end of the month. Check my work 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. (Round everage cost per unit to 4 decimal places. Enter sales with a negative sign.) 15 Sold T ntory Vahn For unts of unle unit per unit GIods Soul 6.0000 S Beginning Inventory Sale - January 5 7,000 42.000 7,000 6.0000 Subtotal Average Cost Purchase January 10 42.000 42,000 6,000 7.0000 6.6000 Subtotal Average Cost Sale January 12 Subtotal Average Cost Purchase January 18 Subtotal Average Cost Sale January 20 13,000 84,000 13,000 6.6000 84.000 7.000 8.0000 56,000 20,000 7.3000 140,000 6,000 26,000 7 3000 43,800 Total 183.800
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Related Book For
Intermediate Accounting
ISBN: 978-0078025839
9th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson , Wayne Thomas
Posted Date:
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