(b1) Calculate cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 60 units on June 27 for $9. (Round intermediate calculations and final answers to O decimal places, e.g. 125.) The cost of the ending inventory The cost of goods sold +A $ +A $ FIFO $ LIFO Moving-Average $ +A CA $
(b1) Calculate cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 60 units on June 27 for $9. (Round intermediate calculations and final answers to O decimal places, e.g. 125.) The cost of the ending inventory The cost of goods sold +A $ +A $ FIFO $ LIFO Moving-Average $ +A CA $
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 4PEA: Beginning inventory, purchases, and sales for 30xT are as follows: Assuming a perpetual inventory...
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![(b1)
Calculate cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory
system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 60 units on June 27 for $9. (Round
intermediate calculations and final answers to O decimal places, e.g. 125.)
The cost of the ending
inventory
The cost of goods sold
+A
$
+A
$
FIFO
$
LIFO
Moving-Average
$
+A
CA
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb7aa46aa-0dc3-45af-bef6-69022623e2ed%2F4a7628c1-077a-4b5a-b99d-a232737f98ea%2Fgzpytp_processed.png&w=3840&q=75)
Transcribed Image Text:(b1)
Calculate cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory
system. Assume a sale of 400 units occurred on June 15 for a selling price of $8 and a sale of 60 units on June 27 for $9. (Round
intermediate calculations and final answers to O decimal places, e.g. 125.)
The cost of the ending
inventory
The cost of goods sold
+A
$
+A
$
FIFO
$
LIFO
Moving-Average
$
+A
CA
$
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