Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2020 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 110 units @ $ 7.30 = $ 803.00 80 units @ $15.80 = 330 units @ $ 6.60 = 130 units @ $15.80 = 580 units @ $ 6.40 530 units @ $ 6.30 = 710 units @ $15.80 = Required: 1. Calculate the total goods available for sale (in units and cost). Units 1,264.00 2,178.00 2,054.00 3,712.00 3,339.00 11,218.00 Cost
Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2020 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 110 units @ $ 7.30 = $ 803.00 80 units @ $15.80 = 330 units @ $ 6.60 = 130 units @ $15.80 = 580 units @ $ 6.40 530 units @ $ 6.30 = 710 units @ $15.80 = Required: 1. Calculate the total goods available for sale (in units and cost). Units 1,264.00 2,178.00 2,054.00 3,712.00 3,339.00 11,218.00 Cost
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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Hi thank you for your assiatance.When I submit the answer for the attached I asked over here yesterday.
3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.)
FIFO : Cost of goods sold $6988.00 is incorrect? can you please help why.
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