Question: Please answer all questions. If you can't just refund the question. Thanks in advance. Will leave good review pter 5 Quiz (Q6) Please handwrite your
Please answer all questions. If you can't just refund the question. Thanks in advance. Will leave good review

pter 5 Quiz (Q6) Please handwrite your solutions and box or circle your final answers DoLotsaAccounting Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost 1/1 Beginning Inventory 800 2/10 $13.75 Purchase 350 $14.45 3/17 Purchase 750 $14.50 5/29 Purchase 555 $14.60 7/25 Purchase 450 $14.65 10/8 Purchase 600 $14.80 12/15 Purchase $15.55 A physical count of inventory on December 31 revealed that there were 2,077 units on hand. Answer the following questions. Show your work like a solution manual! Box or Circle your final answers. 1) What is the value of cost of goods sold & ending inventory under FIFO? 2) What is the value of cost of goods sold & ending inventory under LIFO? 3) What is the value of cost of goods sold & ending inventory under Average Cost (round out at least 2 decimal places for your average cost)? 4) What is the value of cost of goods sold & ending inventory under FIFO if 2.222 units were sold instead? 5) What is the value of cost of goods sold & ending inventory under LIFO if 2.222 units were sold instead? 6) What is the value of cost of goods sold & ending inventory under Average Cost if 2.222 units were sold instead (round out at least 2 decimal places for your average cost)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
