Question: Vaughn Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 55
Vaughn Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 55 $15 July 28 30 18 On June 1, Vaughn sold 25 units, and on August 27, 46 more units. (a) - Your answer is partially correct. Prepare the perpetual inventory schedule for the above transactions using FIFO. Date Purchases May 7 $ June 1 $ Product E2-D2 Cost of Goods Sold 825 $ $ Balance 825 $ 375 $ 450 July 28 $ 540 $ Aug. 27 $ $ 990 $ 690 $ 300 (b) Prepare the perpetual inventory schedule for the above transactions using LIFO. Date Purchases May 7 June 1 $ July 28 $ Aug. 27 eTextbook and Media Save for Later Product E2-D2 Cost of Goods Sold Balance $ Attempts: 0 of 5 used Submit Answer (c) Prepare the perpetual inventory schedule for the above transactions using moving-average cost. (Round average-cost per unit to 3 decimal places, e.g. 12.50 and final answers to 0 decimal places, e.g. 1,250.) Date Purchases May 7 June 1 July 28 Aug. 27 eTextbook and Media Product E2-D2 Cost of Goods Sold Balance $ $
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