Question: How to calculate question 5 by using FIFO ? On September 1, 2010, the beginning inventory was 110 units at $50 each. Purchases and sales

How to calculate question 5 by using FIFO ?

On September 1, 2010, the beginning inventory was 110 units at $50 each. Purchases and sales during September 2010 were: What is the cost of ending inventory for September if the PERPETUAL AVERAGE costing alternative is used? (round your answer to the nearest penny) $6, 337.50 $6, 052.20 $5, 362.50 $6, 275.86 What is the cost of inventory on September 30 if the PERPETUAL LIFO costing alternative is used? $6, 620 $5, 520 $6, 480 $6, 500 What is the cost of goods sold for September if the PERPETUAL FIFO costing alternative is used? 13, 920 $12, 880 13, 980 $13, 900

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!

How to calculate the question 4 by using LIFO ? On September 1, 2010, the beginning inventory was 110 units at $50 each. Purchases and sales during September 2010 were: What is the cost of ending...

Use the following information for Sue's Soups for the next three questions: On September 1, 2010, the beginning inventory was 110 units at $50 each. Purchases and sales during September 2010 were:...

The HSA 525 healthcare finance workings of the attached assignment homeworksare needed. The week 7 question was posted and the solution was not given. The other weeks 6 to week 10 solutions are...

FIFO & LIFO Inventory Study the FIFO and LIFO explanations in Chapter 8. 1) Compute ending FIFO inventory and cost of goods sold. Assume $90,000 sales; beginning inventory 500 units @$50; purchases...

UNE Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into...

please complete all 4 tables, dates March 1,5,9,18,25, and 29, thank you! Warnerwoods Company uses a perpetual inventory system It entered into the following purchases and sales transactions for...

Problem 5-1A Perpetual: Alternative cost flows LO P1 Skip to question [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It...

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1...

accounting problems 3 please complete full chart 3 Required information [The following information applies to the questions displayed below.] Part 3 of 4 Warnerwoods Company uses a perpetual...

CON7-1 (Static) Evaluating the Choice of Inventory Method When Costs Are Rising and Falling Pool Corporation, Inc., reported in its recent annual report that "In 2010, our industry experienced some...

A mortgage of $169,000 was taken out when a 5 year mortgage interest rate was 3.2% compounded semi annually. 50 months later the 5 year mortgage interest rate has decrease to 2.5%. What would be the...

Motif Furniture is an Austin- based furniture company. For each of the following first- quarter transactions, indicate whether operating (O), investing (I), or financing activities (F) are affected...

pls ans WUESTION 156 (4 points) Identify the technique Sega is utilizing when they charge an extremely low price for their "Play Station" and make up the lower margin on the base unit by higher...

Is congressional oversight wrote by Birkland T . A ( 2 0 2 0 ) .

8. Describe how cultural spaces are formed.

9. Explain why it is important to understand cultural spaces in intercultural communication.

7. Identify and describe three characteristics of an ethical student of culture.