Safari File Edit View History Bookmarks Window Help B Q 8 * Thu Jul 7 5:12 AM AutoSave OFF MAP ? C ... 3 ACC219_L8_Template-Final-Revised (1) Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Arial 11 AA 207 ab Wrap Text v General Paste BIUV A Merge & Center v v % " Conditional Format Cell Insert Delete Format Sort & Find & Analyze Formatting as Table Styles Filter Select Data N180 X V fx B C D E F G H J K L M N O P Q R S T U V W X Y Z AA AB Part 1 Instructions: Use the information below to answer the questions. 8 Review the list of puchases from Jackson Company for May. 10 Jackson Company Purchases-May Purchases - Units and Unit Costs Sales - Total Units May Balance on hand 100 @ $6.00 May 5 300 13 300 @ $6.15 12 200 11 400 @ 6.25 27 800 18 200 @ $6.55 28 150 26 600 @ $6.75 31 200 $6.90 Part 1: Compute the inventory at May 31 on each of the following bases. Assume 20 that perpetual inventory records are kept in units only. Carry unit costs to the 21 nearest cent. 22 23 1. First-in, first-out 24 2. Last-in, first 25 3. Average cost (i.e., weighted average Purchases - Units Sales - Total Units 28 May 1 Balance 100 May 5 300 42 Assume costs are not computed for each withdrawal: Lesson8 + Ready + 100% JUL 3Excel File Edit View Insert Format Tools Data Window Help Q 8 * Thu Jul 7 5:12 AM AutoSave OFF n A E ? C ... ACC219_L8_Template-Final-Revised (1) Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Arial 11 AA b Wrap Text General V v Paste B A = Merge & Center v v % " Conditional Format Cell Insert Delete Format Sort & Find & Analyze Formatting as Table Styles Filter Select Data K56 X V fx B C D E F G H K L M N O P Q R S T U V W X Y Z AA AB 42 Assume costs are not computed for each withdrawal: 43 First-in, first-out 45 Date of Invoice No. Units Unit Cost Total Cost 46 47 48 49 50 51 52 Inventory, May 31 = 53 54 Last-in, first-out 55 No. Units Unit Cost Total Cost 56 57 58 59 60 61 62 Inventory, May 31 = 63 64 Average-cost 65 Date of Invoice No. Units Unit Cost Total Cost 66 1-May 100 67 68 69 Inventory, May 31 = 78 Lesson + + 100% Ready JUL 3 7 atvExcel File Edit View Insert Format Tools Data Window Help Q 8 * Thu Jul 7 5:12 AM AutoSave OFF n A E ? C ... ACC219_L8_Template-Final-Revised (1) Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Arial 11 AA D Wrap Text General V v Paste B A Merge & Center v v % " Conditional Format Cell Insert Delete Format Sort & Find & Analyze Formatting as Table Styles Filter Select Data K56 X V fx B C D E F G H K L M N O P Q R S T U V W X Y Z AA AB Part 2 Instructions: Use the information below to answer the questions. 80 81 If the perpetual inventory record is kept in dollars, and costs are computed at the time of each 82 withdrawal, what amount would be shown as ending inventory in (1), (2), and (3) above? (Carry 84 average unit costs to four decimal places.) 85 86 Assume costs are computed for each withdrawal. 87 88 First-in, first-out 89 2 Last-in, first-out Purchased Sold Balance Date No. of units Unit cost units cost units cost Amount 97 98 AN= 38898 8 8 Lesson8 + Ready JUL 3 7Q 8 * Thu Jul 7 5:12 AM Excel File Edit View Insert Format Tools Data Window Help ACC219_L8_Template-Final-Revised (1) Q AutoSave OFF n A E ? C ... Share Comments Home Insert Draw Page Layout Formulas Data Review View Tell me Arial 11 AA D Wrap Text General V v Insert Delete Format Sort & Find & Analyze A Merge & Center v Conditional Format Cell Paste BIUV = v % " Formatting as Table Styles Filter Select Data K56 X V fx S E F G H K L M N O P Q R T U V W X Y Z AA AB A B C D 133 135 136 138 139 Inventory, May 31 = 140 3 Average-cost Purchased Sold Balance Date No. of units Unit cost No. of units Unit cost units Unit cost Amount 1-May 4-May 5-May 11-May 12-May 18-May 26-May 27-May 28-May 31-May Inventory, May 31 = 166 Part 3 Instructions: Create an example note to the financial statement disclosing one of the inventory valuation methods listed in the problem in the space below. 167 168 169 Lesson8 + + 100% Ready JUL 3 7 T