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Wildhorse Company uses a periodic inventory system and reports the following for the month of June. Date June 1 12 23 30 Explanation Units Inventory Purchase Purchase Inventory 130 400 220 250 Unit Cost Total Cost $5 6 7 $650 2,400 1,540

Wildhorse Company uses a periodic inventory system and reports the following for the month of June. Date June 1 12 23 30 Explanation Units Inventory Purchase Purchase Inventory 130 400 220 250 Unit Cost Total Cost $5 6 7 $650 2,400 1,540

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
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 11E: Alternative Inventory Methods Nevens Company uses a periodic inventory system. During November, the...
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Wildhorse Company uses a periodic inventory system and reports the following for the month of June. Date June 1 12 23 30 Explanation Units Unit Cost Inventory $5 Purchase Purchase Inventory eTextbook and Media 130 400 Cost of the ending inventory 220 Weighted-average unit cost $ Cost of goods sold 250 6 Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $ 7 $ Total Cost Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.) $650 FIFO 2,400 1,540 $ LIFO $ $ LA Average-cost
Transcribed Image Text:Wildhorse Company uses a periodic inventory system and reports the following for the month of June. Date June 1 12 23 30 Explanation Units Unit Cost Inventory $5 Purchase Purchase Inventory eTextbook and Media 130 400 Cost of the ending inventory 220 Weighted-average unit cost $ Cost of goods sold 250 6 Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $ 7 $ Total Cost Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.) $650 FIFO 2,400 1,540 $ LIFO $ $ LA Average-cost
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