Problem 6: (2 points per box, 18 points) Periodic Inventory Transaction Beg. Inv Date Jan April...

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Problem 6: (2 points per box, 18 points) Periodic Inventory Transaction Beg. Inv Date Jan April Sept. Dec. Sales: Date Feb June Nov FIFO LIFO Qty 5 8 Purchase Purchase Purchase 11 Weighted Average Sales Price $ 225 each $ 240 each $250 each Required: Assuming the periodic inventory system, calculate all the following for FIFO, LIFO, and Weighted Average. Place your answers in the spaces provided. Clearly mark all your work. Place your final answers in the appropriate boxes. Answers for Periodic System: Cost of Goods Available Unit Qty 8 10 10 11 Ending Inventory Total Price $160 150 140 130 Cost $ 1,280 1,500 1,400 1,430 Cost of Goods Sold Problem 6: (2 points per box, 18 points) Periodic Inventory Transaction Beg. Inv Date Jan April Sept. Dec. Sales: Date Feb June Nov FIFO LIFO Qty 5 8 Purchase Purchase Purchase 11 Weighted Average Sales Price $ 225 each $ 240 each $250 each Required: Assuming the periodic inventory system, calculate all the following for FIFO, LIFO, and Weighted Average. Place your answers in the spaces provided. Clearly mark all your work. Place your final answers in the appropriate boxes. Answers for Periodic System: Cost of Goods Available Unit Qty 8 10 10 11 Ending Inventory Total Price $160 150 140 130 Cost $ 1,280 1,500 1,400 1,430 Cost of Goods Sold

Answer rating: 100% (QA)

FIFO Beginning inventory 10 units at 150 per unit 1500 Purchases Jan 150 units at 160 per unit 24000 Sept 140 units at 140 per unit 19600 Dec 130 unit... View the full answer