Question: work the problems - show all worl using FIFO , LIFO and weighted aversge methods. fill in T accounts-MY WORK IS LIKELY NOT CORRECT, PLEASE
work the problems - show all worl using FIFO , LIFO and weighted aversge methods.
fill in T accounts-MY WORK IS LIKELY NOT CORRECT, PLEASE WORK USING DIFFERENT METHODS AND SHOW WORK
| Just like in class and on the recording, you are to work these problems using perpetual FIFO, LIFO | ||||||||
| and weighted average (make a duplicate of the first completed worksheet to use to complete each of | ||||||||
| the inventory methods, again just like I showed you in class and on the recordings) | ||||||||
| 1-May | Bought 7 DCDF001 for $50.00 each with cash | |||||||
| 3-May | Bought 4 CCF034 for $23.00 each with cash | |||||||
| 7-May | Sold 2 DCDF001 for $60.00 each for cash | |||||||
| 9-May | Bought 3 DCDF001 for $42.24 each with cash for cash | |||||||
| 11-May | Sold 4 DCDF001 for $75.11 each and 2 CCF034 for $51.88 each | |||||||
| (check figure: FIFO Ending Inventory Balance = $222.72) | ||||||||
| (check figure: LIFO Ending Inventory Balance = $246.00) | ||||||||
| (check figure: Weighted Average Ending Inventory Balance = $234.36) | ||||||||
MAKE A T ACCOUNT FOR , INVENTORY, DCDF001,CCF034
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