Question: Please answer questions in yellow B D E A 1 Better Bottles, Inc., uses a periodic Inventory system and has the following information available: 2


B D E A 1 Better Bottles, Inc., uses a periodic Inventory system and has the following information available: 2 # of Units 3 Description 4 Beginning Inventory 5 Jan. 15 Purchase 6 Jan. 20 Purchase 7 Goods Available for Sale 8 Less: January Sales 9 Ending Inventory 10 Cost per Unit 20 $ 20.00 $ 27 22.00 33 30.00 80 $ 36 44 Total Cost 400.00 594.00 990.00 1.984.00 Book Print 11 forences 12 Required: 13 1) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic FIFO. 14 15 FIFO Ending Inventory 16 Description # of Units Cost per Unit Total Cost 17 Jan. 20 Purchase 18 Jan. 15 Purchase 19 44 20 21 FIFO Cost of Goods Sold 22 necerintinn #nfinite Cnct norlinit Total Cnct tual Reprt Saved E B D 21 FIFO Cost of Goods Sold 22 Description # of Units Cost per Unit Total Cost 23 Beginning Inventory 24 Jan. 15 Purchase 25 36 26 27 2) Calculate both the Ending Inventory and Cost of Goods Sold using Periodic LIFO. 28 29 LIFO Ending Inventory 30 Description # of Units Cost per Unit Total Cost 31 Beginning Inventory 32 Jan. 15 Purchase 33 44 34 35 LIFO Cost of Goods Sold # of Units Cost per Unit Total Cost 36 Description 37 Jan. 20 Purchase 38 Jan. 15 Purchase 39 36 40 41 3) Using Periodic Weighted Average, first calculate the cost per unit using the formula below. 47 Not annu that camernet narsimit to malo hath the Ending Inton and cost of rande cald
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
