Determine the cost of goods sold and the cost of ending inventory. The company uses the periodical
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Question:
Determine the cost of goods sold and the cost of ending inventory. The company uses the periodical inventory system, | ||||
using the following information. Please fill in the spaces in yellow. Calculate the gross profit and gross profit rate, | ||||
under each method of inventory valuation. | ||||
Date | Units | Cost or Selling Price per Unit | Total Cost | |
February 2 | Beginning Inventory | 1200 | $ 50.00 | |
February 13 | Purchase | 1700 | $ 57.50 | |
February 17 | Sale | 2500 | $ 275.00 | |
February 25 | Purchase | 1900 | $ 62.00 | |
Units Purchased | Total Cost of units purchased | |||
Units Sold | Total Sales | |||
Units in Ending Inventory | ||||
Purchase | ||||
Date | Units | Cost or Selling Price per Unit | Total Cost | |
Sales | ||||
Date | Units | Cost or Selling Price per Unit | Total Cost | |
SISTEMA DE INVENTARIO PERIODICO | ||||
FIFO | ||||
Ending inventory | ||||
Date | Units | Cost or Selling Price per Unit | Total Cost | |
Cost of Goods Sold | ||||
Date | Units | Cost or Selling Price per Unit | Total Cost | |
SISTEMA DE INVENTARIO PERIODICO | ||||
Weighted Average | ||||
Ending inventory | ||||
Cost of Goods Sold | ||||
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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