Homework Answers
calculate inventory cost
a) First in first out = (12*36+4*34) = 568
b) Last in first out = 11*32+5*34 = 522
c) Weighted average = 1328/39 = 34.05*16 = 545
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Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 7 units at $26 $182 Aug. 7 Purchase 17 units at $29 493 Dec. 11 Purchase 11 units at $30 330 35 units $1,005 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 9 units at $41 $369 Aug. 7 Purchase 16 units at $43 688 Dec. 11 Purchase 12 units at $45 540 37 units 1597 There are 17 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 5 units at $50 $250 Aug. 7 Purchase 16 units at $53 848 Dec. 11 Purchase 12 units at $55 660 33 units $1,758 There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and weighted Average Cost Methods The units of an item available...
Periodic Inventory Using FIFO, LIFO, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 10 units at $35 $350 Aug. 7 Purchase 19 units at $38 722 Dec. 11 Purchase 12 units at $40 480 41 units $1,552 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first- in,...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Inventory 6 units at $46 $276 Jan. 1 Aug. 7 Dec. 11 20 units at $48 960 Purchase Purchase 15 units at $50 750 41 units $1,986 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: $598 Jan. 1 Aug. 7 Dec. 11 Inventory Purchase Purchase 13 units at $46 18 units at $48 12 units at $49 864 588 43 units $2,050 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during t...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 11 units at $32 $352 17 units at $33 561 Aug. 7 Purchase 13 units at $34 442 Dec. 11 Purchase 41 units $1,355 There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory10 units at $40 Aug. 7 Purchase 18 units at $41 Dec. 11Purchase 14 units at $42 $400 738 588 $1,726 42 units There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out (FIFO) method;...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 5 units at $33 $165 Aug. 7 Purchase 18 units at $36 648 Dec. 11 Purchase 10 units at $37 370 33 units $1,183 There are 20 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 7 units at $33 $231 Aug. 7 Purchase 17 units at $36 612 Dec. 11 Purchase 13 units at $38 494 37 units $1,337. There are 17 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 7 units at $26 $182 Aug. 7 Purchase 17 units at $29 493 Dec. 11 Purchase 11 units at $30 330 35 units $1,005 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 10 units at $35 $350 Aug. 7 Purchase 19 units at $38 722 Dec. 11 Purchase 12 units at $40 480 41 units $1,552 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first- in,...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Inventory 6 units at $46 $276 Jan. 1 Aug. 7 Dec. 11 20 units at $48 960 Purchase Purchase 15 units at $50 750 41 units $1,986 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: $598 Jan. 1 Aug. 7 Dec. 11 Inventory Purchase Purchase 13 units at $46 18 units at $48 12 units at $49 864 588 43 units $2,050 There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 11 units at $32 $352 17 units at $33 561 Aug. 7 Purchase 13 units at $34 442 Dec. 11 Purchase 41 units $1,355 There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out...
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory10 units at $40 Aug. 7 Purchase 18 units at $41 Dec. 11Purchase 14 units at $42 $400 738 588 $1,726 42 units There are 16 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first-out (FIFO) method;...
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