1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system.
2. Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system.
3. Calculate January's ending inventory and cost of goods sold for the month using FIFO, perpetual system.
4. Calculate January's ending inventory and cost of goods sold for the month using Average cost, periodic system
5. Calculate January's ending inventory and
cost of goods sold for the month using Average cost, perpetual
system. (Round average cost per unit to 4 decimal places.
Enter sales with a negative sign.)
1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic...
Ferris Company began January with 7,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 6,000 $ 7 $ 42,000 Jan. 18 7,000 8 56,000 Totals 13,000 98,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 3,000 Jan. 12 1,000 Jan. 20 4,000 Total 8,000 12,000 units were on...
Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Units Unit Cost* Total Cost Jan. 10 5,000 $ 7 $ 35,000 Jan. 18 6,000 $8 $48,000 11,000 $83,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 3,000 Jan. 12 2,000 Jan. 20 4,000 Total 9,000 8,000 units were on...
Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: PurchasesDate of PurchaseUnitsUnit Cost*Total CostJan. 103,000$7$21,000Jan. 184,000832,000Totals7,00053,000* Includes purchase price and cost of freight. SalesDate of SaleUnitsJan. 52,000Jan. 121,000Jan. 203,000Total6,000 5,000 units were on hand at the end of the month.Required:1. Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system.2. Calculate January's ending inventory and cost of goods sold...
Ferris Company began January with 9,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 6,000 $ 9 $ 54,000 Jan. 18 9,000 10 90,000 Totals 15,000 144,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 5,000 Jan. 12 3,000 Jan. 20 6,000 Total 14,000 10,000 units were on...
1. Calculate cost of ending inventory and cost of goods sold using periodic FIFO, LIFO, and Weighted Average Cost methods X FILE 5.a. HOME % Calibri INSERT PAGE LAYOUT Inventory costing methods - Excel FORMULAS DATA REVIEW ? x VIEW - 6 Sign In Paste B IU - -A- Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard D66 1 Better Bottles, Inc., uses a periodic inventory system and has the following information available: of Units...
Ferris Company began 2018 with 8,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January 2018 are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 6,000 $ 8 $ 48,000 Jan. 18 8,000 9 72,000 Totals 14,000 120,000 *Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 4,000 Jan. 12 2,000 Jan. 20 5,000 Total 11,000 11,000 units were on...
Please answer the following question TOTAL 5 Problem 8-5 Various inventory costing methods [LO8-1, 8-4] Ferris Company began 2018 with 9,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January 2018 are as follows: Units Purchases Date of Purchase Unit Cost Jan. 10 6,000 $ 9 Jan. 18 9.000 Totals 15,000 *Includes purchase price and cost of freight. 10 Total Cost $ 54,000 90,000 144,000 Sales Date of Sale Jan....
Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $5. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 5,000 $ 6 $ 30,000 Jan. 18 6,000 7 42,000 Totals 11,000 72,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 3,000 Jan. 12 2,000 Jan. 20 4,000 Total 9,000 8,000 units were on...
Ferris Company began 2018 with 5,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January 2018 are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 6,000 $ 10 $ 60,000 Jan. 18 5,000 11 55,000 Totals 11,000 115,000 *Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 3,000 Jan. 12 3,000 Jan. 20 4,000 Total 10,000 6,000 units were on...
Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 3,000 $ 8 $ 24,000 Jan. 18 4,000 9 36,000 Totals 7,000 60,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 1,000 Jan. 20 3,000 Total 6,000 5,000 units were on...