Question: i only need average coat perpetual & FIFO Perpetual & LIFO perpetual m Ruxton Company had 600 units in inventory at the beginning of November,

m Ruxton Company had 600 units in inventory at the beginning of November, each assigned a $10 unit cost Ruxton also made the following purchases of inventory and sales of inventory during November Purchases during November Sales in November Nov 6 175 units at S11 November 375 units sold for $20 14 250 units at $12 8 200 units sold for $20 16 500 units at $13 17 400 units sold for $20 28 325units at $14 24 320 units sold for $20 Alternate presentation of above in Assignmentation PURCHASES SALES DATE Activity Total Number Units Unit Cost Number Unit Sales Purchases Units Total Sales Price 11-1 Beginning 600 Inventory S10 SALE 375 S20 11-6 Purchase 175 $11 11-8 SALE 200 S20 11-14 Purchase 250 S12 11-16 Purchase 500 $13 11-17 SALE 400 S20 11-24 SALE 320 S20 11-28 Purchase 325 $14 Instructions Compute the April 30 ending inventory and April cost of goods sold as well as the amount of reported gross profit under the different cost flow assumptions and inventory tracking systems, Provide appropriate supporting calculations, SHOWN on provided supporting work paper, clearly labeled and legible. I! Instructions Compute the April 30 ending inventory and April cost of goods sold as well as the amount of reported gross profit under the different cost flow assumptions and inventory tracking systems. Provide appropriate supporting calculations, SHOWN on provided supporting work paper, clearly labeled and legible ENDING COST OF GOODS METHOD: INVENTORY SOLD* GROSS PROFIT** (a) Average cost, periodic (b) Average cost, perpetual (c) FIFO, periodic (d) FIFO perpetual LIFO, periodic (1) LIFO, perpetual Make sure that: Ending inventory + Cost of goods sold - Total cost of goods available for sale **This column is GROSS PROFIT that would be reported based on the cost of goods sold determined for each costing scenario and total sales determined from in Assignmentation given above
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To find the ending inventory cost of goods sold COGS and gross profit under different inventory methods we need to consider FIFO LIFO and average cost methods Heres a detailed breakdown 1 Average Cost ... View full answer
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