Question

Neverstop Corporation sells item A as part of its product line. Information about the beginning inventory purchases, and sales of item A are given in the following table for the first six months of 2017. The company uses a perpetual inventory system: Purchases Sales Unit Cost $4.30 Sales Price Date January 1 (beginning inventory) January 24 February 8 March 16 June 11 Number of Units 590 690 Number of Units 390 650 $5.80 $4.40 $6.00 390 $4.55

Answer 1

Answers s@ and collate othe amount of the understatement Loverstafem ent in the cost of cales -for-the fast six mortig d 2014: Dati pure has cost of goods soll Ending inventory: Nord unit words lunit antal Total modo unit Total unith cost cost. unith cost units cost cast 590 4.30 2537 Tan 390 4.30 1677 doo 860 Jan my Śs 200 W 860 febg I 690 Uo4 690 3036 - 200 450 4.3 4:4 march 16 860 1980 250 4.4 1100 June 11 390 4.55 4.4 4.55 1100 1774.5 1040 4514 640 28.74.5 beilance overstatement of cost of sales = lor unity & 4.40 . ..=.440 understatement of cement asa ts by $440 in verifery is cuvant asset that has been decreased by $440... 56