Purchases during 04: Purchase, 10/22, 650 units @ $55 Purchase, 11/5; 700 units @558 Purchase, 11/2; 1,100 units @ $62 Purchase, 12/5; 430 units@ $60 Purchase, 12/30; 750 units @ $65 The company made a sale of 900 units on 11/15 and a sale of 700 units on 12/18. 1. Determine cost of goods sold if the company uses a LIFO perpetual cost flow assumption. 2. Determine cost of goods sold if the company uses a LIFO periodic cost flow assumption: 3. Determine cost of goods sold if the company uses a weighted-average periodic sot flow assumption (do not round avera
Purchases during 04: Purchase, 10/22, 650 units @ $55 Purchase, 11/5; 700 units @558 Purchase, 11/2; 1,100 units @ $62 Purchase, 12/5; 430 units@ $60 Purchase, 12/30; 750 units @ $65 The company made a sale of 900 units on 11/15 and a sale of 700 units on 12/18. 1. Determine cost of goods sold if the company uses a LIFO perpetual cost flow assumption. 2. Determine cost of goods sold if the company uses a LIFO periodic cost flow assumption: 3. Determine cost of goods sold if the company uses a weighted-average periodic sot flow assumption (do not round avera
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter5: Inventories And Cost Of Goods Sold
Section: Chapter Questions
Problem 5.23MCE
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220 units at $50 each
please answer only first three suparts thanx
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