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Sunland Company was formed in 2016 and maintains its books and records on calendar-year basis. The following information is available from Sunland’s inventory records for Zhao’s only product, the XL5500.     Units   Unit Cost January 1, 2017 (beginning inventory)   1,200   $ 77 Purchases            January 8, 2017   300   78    January 23, 2017   1,250   80.00    February 9, 2017   350   82    February 25, 2017   650   84 A physical inventory on February 28, 2017, shows 1,250 units on hand.

Sunland Company was formed in 2016 and maintains its books and records on calendar-year basis. The following information is available from Sunland’s inventory records for Zhao’s only product, the XL5500.     Units   Unit Cost January 1, 2017 (beginning inventory)   1,200   $ 77 Purchases            January 8, 2017   300   78    January 23, 2017   1,250   80.00    February 9, 2017   350   82    February 25, 2017   650   84 A physical inventory on February 28, 2017, shows 1,250 units on hand.

Intermediate Accounting: Reporting And Analysis
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
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 13RE: Refer to the information provided in RE8-4. If Paul Corporations inventory at January 1, 2019, had a...
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Sunland Company was formed in 2016 and maintains its books and records on calendar-year basis. The following information is available from Sunland’s inventory records for Zhao’s only product, the XL5500.

   
Units
  
Unit Cost
January 1, 2017 (beginning inventory)   1,200   $ 77
Purchases        
   January 8, 2017   300   78
   January 23, 2017   1,250   80.00
   February 9, 2017   350   82
   February 25, 2017   650   84


A physical inventory on February 28, 2017, shows 1,250 units on hand.

Prepare schedule to compute the ending inventory at February 28, 2017, under FIIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to O decimal places, e.g. 5,272.) SUNLAND Company COMPUTATION OF INVENTORY FOR PRODUCT XL5500 UNDER FIFO INVENTORY METHOD For the Year Ended February 28, 2017 February 28, 2017 st Total Cost For the Quarter Ended February 28, 2017 $ > > >
Transcribed Image Text:Prepare schedule to compute the ending inventory at February 28, 2017, under FIIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to O decimal places, e.g. 5,272.) SUNLAND Company COMPUTATION OF INVENTORY FOR PRODUCT XL5500 UNDER FIFO INVENTORY METHOD For the Year Ended February 28, 2017 February 28, 2017 st Total Cost For the Quarter Ended February 28, 2017 $ > > >
Prepare schedule to compute the ending inventory at February 28, 2017, under FIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,272.) SUNLAND Company COMPUTATION OF INVENTORY FOR PRODUCT XL5500 UNDER FIFO INVENTORY METHOD Units Unit Cost Total Cost > >
Transcribed Image Text:Prepare schedule to compute the ending inventory at February 28, 2017, under FIFO inventory method. (Round unit costs to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 5,272.) SUNLAND Company COMPUTATION OF INVENTORY FOR PRODUCT XL5500 UNDER FIFO INVENTORY METHOD Units Unit Cost Total Cost > >
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