Question: Question 12 Tianjin Technology uses a perpetual inventory system. Shown below is Tianjin's beginning inventory of a particular product and purchases during January: On October

 Question 12 Tianjin Technology uses a perpetual inventory system. Shown below

Question 12 Tianjin Technology uses a perpetual inventory system. Shown below is Tianjin's beginning inventory of a particular product and purchases during January: On October 27, Tianjin sold 14 units of this product. Required: [12 marks] As of than 31 , determine the following values. (Show your calculations.) A. How many units are in the ending inventory? 16 B. If using weighted average, what is your cost of goods sold? 6256390=10.224306390=4 C. If using first-in, first-out (FIFO) what is the cost of your ending inventory? (1) (b) 1801,0806 (0) 215 (9) 2302153,230150 D. If using last-in, first-out (LIFO) what is your cost of goods sold? 3,520 (1) 230 , 300 4 (a) 215 2 (1) 180360

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!