The following information relates to Bridger Inc.'s inventory transactions during the month of October. Date Purchases...

 

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The following information relates to Bridger Inc.'s inventory transactions during the month of October. Date Purchases Units Cost per unit 1 October Beginning Inventory 1,060 $ 11.00 4 October 6,500 $ 11.00 18 October 4,890 $ 9.90 Units Sold Selling price per unit 11,440 $ 20.50 Answer the following questions about Bridger Inc.'s inventory transactions during the month in the highlighted cells. Be sure to use cell references in excel to calculate your answers. 1) How many units of inventory are remaining at the end of the month assuming that Bridger uses the FIFO cost flow assumption? 2) How many units of inventory are remaining at the end of the month assuming that Bridger uses the LIFO cost flow assumption? 3) What is the dollar value of the ending inventory under the FIFO assumption? 4) What is the cost of goods sold for the month under the FIFO assumption? 5) What is the dollar value of the ending inventory under the LIFO assumption? 6) What is the cost of goods sold for the month under the LIFO assumption? The following information relates to Bridger Inc.'s inventory transactions during the month of October. Date Purchases Units Cost per unit 1 October Beginning Inventory 1,060 $ 11.00 4 October 6,500 $ 11.00 18 October 4,890 $ 9.90 Units Sold Selling price per unit 11,440 $ 20.50 Answer the following questions about Bridger Inc.'s inventory transactions during the month in the highlighted cells. Be sure to use cell references in excel to calculate your answers. 1) How many units of inventory are remaining at the end of the month assuming that Bridger uses the FIFO cost flow assumption? 2) How many units of inventory are remaining at the end of the month assuming that Bridger uses the LIFO cost flow assumption? 3) What is the dollar value of the ending inventory under the FIFO assumption? 4) What is the cost of goods sold for the month under the FIFO assumption? 5) What is the dollar value of the ending inventory under the LIFO assumption? 6) What is the cost of goods sold for the month under the LIFO assumption?