Required 1 Required 2 Required 3 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased # of units Cost of Goods Sold Cost per # of units Cost per Cost of Goods unit Inventory Balance # of units Cost per unit Inventory Balance Date unit sold Sold January 1 215e $ 10.60r s 2,279.00 January 10 March 14 180 @ s 10.60: ;$ 1,908.00 35e $ 10.60 AS 35e $ 10.60 S 320e $ 15.60r. 4,992.00 371.00 320e $ 15.60 371.00 S 5,363.00 $ 10.60 95e $ 15.60 S March 15 35a $ 10.60= s 371.00 225 $ 15.60 3,510.00 1,482.00 %3D S 3,881.00 $ 1,482.00
Required 1 Required 2 Required 3 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased # of units Cost of Goods Sold Cost per # of units Cost per Cost of Goods unit Inventory Balance # of units Cost per unit Inventory Balance Date unit sold Sold January 1 215e $ 10.60r s 2,279.00 January 10 March 14 180 @ s 10.60: ;$ 1,908.00 35e $ 10.60 AS 35e $ 10.60 S 320e $ 15.60r. 4,992.00 371.00 320e $ 15.60 371.00 S 5,363.00 $ 10.60 95e $ 15.60 S March 15 35a $ 10.60= s 371.00 225 $ 15.60 3,510.00 1,482.00 %3D S 3,881.00 $ 1,482.00
Financial & Managerial Accounting
14th Edition
ISBN:9781337119207
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5.35EX
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