Celine Company provided the following data relating to an inventory item. Total cost 1,000,000 1,250,000 Units Unit cost Beginning balance 10 Purchase 15 Sale 16 Sale return 30 Purchase 31 Purchase return 5,000 5,000 7,000 1,000 16,000 2,000 200 250 Jan. 1 2,400,000 300,000 150 150 1. Under the perpetual system, what is the moving average unit cost on January 31? 2. What is the FIFO. 3. What is the Weighted Average Periodic.

Celine Company provided the following data relating to an inventory item. Total cost 1,000,000 1,250,000 Units Unit cost Beginning balance 10 Purchase 15 Sale 16 Sale return 30 Purchase 31 Purchase return 5,000 5,000 7,000 1,000 16,000 2,000 200 250 Jan. 1 2,400,000 300,000 150 150 1. Under the perpetual system, what is the moving average unit cost on January 31? 2. What is the FIFO. 3. What is the Weighted Average Periodic.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 2PB: DeForest Company had the following transactions for the month. Calculate the ending inventory dollar...

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