The following units of an item were available for sale during the year: Beginning inventory 36,000 units @ $50 3,919 units @ $73 33,000 units @ $53 39,844 units @ $73 20,000 units @ $56 43,454 units @ $75 The firm uses the perpetual inventory system, and there are 1,783 units of the item on hand at the end of the year. a. What is the total cost of the ending inventory according to FIFO? Sale First purchase Sale Second purchase Sale b. What is the total cost of the ending inventory according to LIFO? L Check My Work O All work saved. hp

The following units of an item were available for sale during the year: Beginning inventory 36,000 units @ $50 3,919 units @ $73 33,000 units @ $53 39,844 units @ $73 20,000 units @ $56 43,454 units @ $75 The firm uses the perpetual inventory system, and there are 1,783 units of the item on hand at the end of the year. a. What is the total cost of the ending inventory according to FIFO? Sale First purchase Sale Second purchase Sale b. What is the total cost of the ending inventory according to LIFO? L Check My Work O All work saved. hp

Name: A & B ? FIFO and LIFO Costs Under Perpetual Inventory SystemThe follow
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Description: A & B ? FIFO and LIFO Costs Under Perpetual Inventory SystemThe following units of an item were available for sale during the year:Beginning inventory36,000 units @ $50Sale3,919 units @ $73First purchase33,000 units @ $53Sale39,844 units @ $73Second

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 12RE: Carla Company uses the perpetual inventory system. The following information is available for...

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