-S The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. Beginning Feb. 10 Aug. 21 549 units @ $92/unit 285 units @ $89/unit 165 units @ $102/unit Stilton Company has two credit sales during the period. The units have a selling price of $152 per unit. Sales Mar. 15 365 units Sept. 10 270 units Stilton Company uses a perpetual inventory system. Required: 1. Calculate the dollar value of cost of goods sold and ending inventory using: (Do not round intermediate calculations. Round "Average cost per unit" to 2 decimal places. Round the final answers to 2 decimal places.) a. FIFO b. Moving weighted average Ending Inventory Cost of Goods Sold 34,541.00 $ 33,777.00 $ $ $ 58,162.00 58,926.00

-S The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020. Beginning Feb. 10 Aug. 21 549 units @ $92/unit 285 units @ $89/unit 165 units @ $102/unit Stilton Company has two credit sales during the period. The units have a selling price of $152 per unit. Sales Mar. 15 365 units Sept. 10 270 units Stilton Company uses a perpetual inventory system. Required: 1. Calculate the dollar value of cost of goods sold and ending inventory using: (Do not round intermediate calculations. Round "Average cost per unit" to 2 decimal places. Round the final answers to 2 decimal places.) a. FIFO b. Moving weighted average Ending Inventory Cost of Goods Sold 34,541.00 $ 33,777.00 $ $ $ 58,162.00 58,926.00

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Description: esThe Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2020.BeginningFeb. 10Aug. 21Stilton Company has two credit sales during the period. The units have a selling price of $152 per unit.549

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 11RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...

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