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Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Beginning inventory Purchased Sold Sold Ending inventory Beginning Purchase. Sale Sale Number of Units Unit Cost Sales 880 630 400 350 760 Number of units $50 Unit Cost 630 $ 52 Cost of Goods Purchased $100 52 110 Total Cost 32,760 LIFO (perpetual) Inventory Cost of Goods Sold Number of units 400 350 760 Unit Cost 52 52 Total Cost 20,800 18,200 Cost of Inventory Remaining Number of units 880 Unit Cost $ 50 Total Cost 44,000

Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Beginning inventory Purchased Sold Sold Ending inventory Beginning Purchase. Sale Sale Number of Units Unit Cost Sales 880 630 400 350 760 Number of units $50 Unit Cost 630 $ 52 Cost of Goods Purchased $100 52 110 Total Cost 32,760 LIFO (perpetual) Inventory Cost of Goods Sold Number of units 400 350 760 Unit Cost 52 52 Total Cost 20,800 18,200 Cost of Inventory Remaining Number of units 880 Unit Cost $ 50 Total Cost 44,000

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 4PA: Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering...
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LIFO (perpetual) Inventory
  Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining
  Number
of units		 Unit Cost Total Cost Number
of units		 Unit Cost Total Cost Number
of units		 Unit Cost
Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Beginning inventory Purchased Sold Sold Ending inventory Beginning. Purchase Sale Sale Number of Units Unit Cost Sales Number of units 880 630 400 350 630 760 $50 52 Cost of Goods Purchased Unit Cost $100 110 52 Total Cost 32,760 LIFO (perpetual) Inventory Cost of Goods Sold Number of units 400 350 760 Unit Cost 100 52 52 Total Cost 20,800 18,200 Cost of Inventory Remaining Number of units 880 Unit Cost $ 50 Total Cost $44,000
Transcribed Image Text:Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Beginning inventory Purchased Sold Sold Ending inventory Beginning. Purchase Sale Sale Number of Units Unit Cost Sales Number of units 880 630 400 350 630 760 $50 52 Cost of Goods Purchased Unit Cost $100 110 52 Total Cost 32,760 LIFO (perpetual) Inventory Cost of Goods Sold Number of units 400 350 760 Unit Cost 100 52 52 Total Cost 20,800 18,200 Cost of Inventory Remaining Number of units 880 Unit Cost $ 50 Total Cost $44,000
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