Question: NEED 6A solved EE6-5 p 283 PE 6-5A Periodic inventory using FIFO, LIFO, and weighted average cost methods OBJ.4 The units of an item available

NEED 6A solved EE6-5 p 283 PE 6-5A Periodic inventory using FIFO,NEED 6A solved

EE6-5 p 283 PE 6-5A Periodic inventory using FIFO, LIFO, and weighted average cost methods OBJ.4 The units of an item available for sale during the year were as follows: Jan. 1 Aug. 7 Dec. 11 Inventory 2 units at $5,400 $ 64,800 18 units at $6,000 108,000 Purchase Purchase ME HOW 15 units at $6,480 97 200 $270,000 Available for sale 45 units There are 14 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out (FIFO) method; (b) the last-in, first-out (LIFO) method; and (c) the weighted average cost method EE6-5 p283 PE 6-5B Periodic inventory using FIFO, LIFO, and weighted average cost methods OBJ.4 The units of an item available for sale during the year were as follows: Jan. 1 Aug. 13 Nov. 30 20 units at $360 7,200 260 units at $342 88920 40 units at 57 14.280 320 units SHOW ME HOW Purchase Purchase Available for sale 110400 There are 57 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out (FIFO) method; (b) the last-in, first-out (LIFO) method; and (c) the weighted average cost method. EE6-6 p. 286 PE 6-6A Lower-of-cost-or-market method OBJ.6 On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item, as shown in Exhibit 10. ME HOw Inventory QuantityUnit Cost per Market Value per Unit (Net Realizable Value) Item Raven 10 200 Dove 23 $115 6,500

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