Question

Clipboard Font A B C D E F G H I KLIM 1 Problem 7-5B For use with Name: Wade Bradford Accounting, 250 3 Section: and Financial Accounting, 13e 5 Score: 0% Warren/Reeve/Duchac 7 Kary Code Meycode Instruetions 9 Answers are entered in the cells with gray backgrounds 10 Cells with non gray backgrounds are protected and cannot be edited. 11 Anastank will appear to the night of an incorrect entry 1. First In, First Out Methodist most recent purchases first for each tem) FORAN Quantity Total Cost

Answer 1

Periodic Inventory FIFO Periodic Goods Available Date Units Cost of units Total Cost Jan-01 20 360 7200 342 88920 Aug-13 260 357 Nov-30 40 14280 320 110400 -57 -20094 263 COGS 90306 Closing Stock Units Cost of units Total Cost Date Nov-30 40 357 14280 5814 Aug-13 17 342 20094 57 LIFO Periodic Goods Available Units Cost of units Total Cost Date Jan-01 20 360 7200 342 Aug-13 260 88920 Nov-30 40 357 14280 110400 320 -19854 -57 90546 263 COGS Closing Stock Units Cost of units Total Cost Date Jan-01 20 360 7200 Aug-13 37 342 12654 57 19854 Weighted Average Goods Available Cost of units Total Cost Units Date Jan-01 20 360 7200 Aug-13 260 342 88920 14280 Nov-30 40 357 320 345 110400 -57 -19665 263 COGS 90735 Closing Stock Date Units Cost of units Total Cost 19665 Jan-01 57 345 19665 57