Windsor Corp. had 1,780 units of part MO on hand May 1, 2020, costing $27 each....
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Windsor Corp. had 1,780 units of part MO on hand May 1, 2020, costing $27 each. Purchases of part M.O. during May were as follows Units May 9- 2,280 17. 3,780 26 1.280 Units Cost $28 29 31 A physical count on May 31, 2020. shows 2.280 units of part M.O. on hand. Using the FIFO method, what is the cost of part M.O. Inventory at May 31, 2020? Using the LIFO method, what is the inventory cost? Using the average-cost method, what is the Inventory cost? (Round average cost per unit to 2 decimal places, eg. 15.25 and final answers to O decimal places, eg 1,620) FIFO LIFO Average Cost Windsor Corp. had 1,780 units of part MO on hand May 1, 2020, costing $27 each. Purchases of part M.O. during May were as follows Units May 9- 2,280 17. 3,780 26 1.280 Units Cost $28 29 31 A physical count on May 31, 2020. shows 2.280 units of part M.O. on hand. Using the FIFO method, what is the cost of part M.O. Inventory at May 31, 2020? Using the LIFO method, what is the inventory cost? Using the average-cost method, what is the Inventory cost? (Round average cost per unit to 2 decimal places, eg. 15.25 and final answers to O decimal places, eg 1,620) FIFO LIFO Average Cost
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Answer rating: 100% (QA)
FIFO 1780 units x 27 48060 2280 units x 28 63840 Total cost of inventory at May 31 11... View the full answer
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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