Manji Ayayai Ltd., which uses a perpetual inventory system, recorded the following inventory transactions for this year:Apr. 1 Beginning inventory25May 416June 4PurchasePurchaseSalePurchaseCost of goods sold $PurchasesUnitsEnding inventory110320150120Unit Cost$17192125Units260SalesUsing the FIFO cost formula, calculate the cost of goods sold for the quarter ended June 30.Selling Price/Unit$33Using the average cost formula, calculate the ending inventory at June 30. (Round per unit costs to 2 decimal places, e.g. 52.75 andfinal answer to O decimal places, e.g. 5,125.)

Name: Manji Ayayai Ltd., which uses a perpetual inventory system, recorded t
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Description: Manji Ayayai Ltd., which uses a perpetual inventory system, recorded the following inventory transactions for this year:Apr. 1 Beginning inventory25May 416June 4PurchasePurchaseSalePurchaseCost of goods sold $PurchasesUnitsEnding inventory11032015012

Under FIFO method using perpetual inventory system, Value of ending inventory and cost of goods sold…

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Accounting

Ayayai Ltd., which uses a perpetual inventory system, recorded the following inventory transactions for this year: Apr. 1 Beginning inventory Purchase 25 May 4 16 June 4 Purchase Sale Purchase Cost of goods sold Purchases $ Units 110 320 150 120 Unit Cost $17 19 21 25 Units 260 Using the FIFO cost formula, calculate the cost of goods sold for the quarter ended June 30. Sales Selling Price/Unit $33

Ayayai Ltd., which uses a perpetual inventory system, recorded the following inventory transactions for this year: Apr. 1 Beginning inventory Purchase 25 May 4 16 June 4 Purchase Sale Purchase Cost of goods sold Purchases $ Units 110 320 150 120 Unit Cost $17 19 21 25 Units 260 Using the FIFO cost formula, calculate the cost of goods sold for the quarter ended June 30. Sales Selling Price/Unit $33

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 12E: Alternative Inventory Methods Park Companys perpetual inventory records indicate the following...

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