Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: QuantityUnit CostTotal CostBeginning inventory (Jan. 1) 23 $14 $322 Purchase (Jan. 11) 15 $20 300 Purchase (Jan. 20) 26 $22 572 Total 64 $1,194 On January 14, Beech Soda, Inc. sold 28 units of this product. The other 36 units remained in inventory at January 31. Assuming that Beech Soda uses the LIFO cost flow assumption, the 36 units of this product in inventory at January 31 have a total cost of:

Name: Beech Soda, Inc. uses a perpetual inventory system. The company's begi
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Description: Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: QuantityUnit CostTotal CostBeginning inventory (Jan. 1) 23 $14 $322 Purchas

Ending Inventory = Total Cost of goods - Cost of goods sold

Answered: Beech Soda, Inc. uses a perpetual…

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 12RE: Carla Company uses the perpetual inventory system. The following information is available for...

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Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows:

	Quantity	Unit Cost	Total Cost
Beginning inventory (Jan. 1)		23		$	14	$	322
Purchase (Jan. 11)		15		$	20		300
Purchase (Jan. 20)		26		$	22		572
Total		64				$	1,194

On January 14, Beech Soda, Inc. sold 28 units of this product. The other 36 units remained in inventory at January 31.

Assuming that Beech Soda uses the LIFO cost flow assumption, the 36 units of this product in inventory at January 31 have a total cost of:

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