Wolfpack Inc. has the following information available for Saturday: Date Description Units Cost per Unit July 1 Beginning Inventory 50 $120 July 6 Purchase 30 $130 July 9 Sale (70) July 20 Purchase 90 $140 July 31 Sale 85 Compute the cost of goods sold and the cost of ending inventory under the following inventory method systems and assumptions. Description Perpetual LIFO Periodic LIFO Perpetual LIFO Cost of Goods Sold for July Cost of Ending Inventory on July 31
Wolfpack Inc. has the following information available for Saturday: Date Description Units Cost per Unit July 1 Beginning Inventory 50 $120 July 6 Purchase 30 $130 July 9 Sale (70) July 20 Purchase 90 $140 July 31 Sale 85 Compute the cost of goods sold and the cost of ending inventory under the following inventory method systems and assumptions. Description Perpetual LIFO Periodic LIFO Perpetual LIFO Cost of Goods Sold for July Cost of Ending Inventory on July 31
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 2PB: LIFO perpetual inventory The beginning inventory for Dunne Co. and data on purchases and sales for a...
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Wolfpack Inc. has the following information available for Saturday:
| Date | Description | Units | Cost per Unit |
| July 1 | Beginning Inventory | 50 | $120 |
| July 6 | Purchase | 30 | $130 |
| July 9 | Sale | (70) | |
| July 20 | Purchase | 90 | $140 |
| July 31 | Sale | 85 |
Compute the cost of goods sold and the cost of ending inventory under the following inventory method systems and assumptions.
| Description | Perpetual LIFO | Periodic LIFO | Perpetual LIFO |
| Cost of Goods Sold for July | |||
| Cost of Ending Inventory on July 31 |
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