Chapter 16.I, Problem 5RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

The following data represents the inventory for home burglar alarm systems at First Alert Security Corporation.

**First Alert Security Corporation**

**Burglar Alarm Systems Inventory**

Date |
Units |
Cost per Unit Total Cost |

Beginning Inventory. January 1 | 235 | $140.00 |

Purchase. March 10 | 152 | 143.50 |

Purchase. May 16 | 135 | 146.80 |

Purchase. October 9 | 78 | 150.00 |

Alarm Systems Available for Sale |
Cost of Goods Available for Sale |

**a.** How many alarm systems did First Alert Security have available for sale?

b. What is the total cost of the alarm systems available for sale?

c. If physical inventory on December 31 showed 167 alarm systems on hand, calculate their dollar value by using FIFO.

d. Calculate the value of the 167 alarm systems by using LIFO.

e. Calculate the dollar value of the 167 alarm systems by using the average cost method.

**(a)**

To determine

**To calculate:** The total alarm system available for sale of First Alarm Security Corporation.

Explanation

**Given Information:**

The information given in the table is-

**Calculation:**

The total alarm system available for sale of First Alarm Security Corporation-

Add all units for each month given in the information-

**(b)**

To determine

**To calculate:** The total cost available for sale of First Alarm Security Corporation.

**(c)**

To determine

**To calculate:** The dollar value of 167 alarm system which is showed on December 31 with the help of FIFO method of inventory pricing of First Alarm Security Corporation.

**(d)**

To determine

**To calculate:** The dollar value of 167 alarm system which is showed on December 31 with the help of LIFO method of inventory pricing of First Alarm Security Corporation.

**(e)**

To determine

**To calculate:** The dollar value of 167 alarm system with the help of average cost method.

The table is given as follows-

Sect-16.I P-1TIESect-16.I P-2TIESect-16.I P-3TIESect-16.I P-4TIESect-16.I P-1RESect-16.I P-2RESect-16.I P-3RESect-16.I P-4RESect-16.I P-5RESect-16.I P-6RE

Sect-16.I P-7RESect-16.I P-8RESect-16.I P-9RESect-16.I P-10RESect-16.II P-5TIESect-16.II P-6TIESect-16.II P-1RESect-16.II P-2RESect-16.II P-3RESect-16.II P-4RESect-16.II P-5RESect-16.II P-6RESect-16.II P-7RESect-16.II P-8RESect-16.II P-9RESect-16.III P-7TIESect-16.III P-8TIESect-16.III P-9TIESect-16.III P-1RESect-16.III P-2RESect-16.III P-3RESect-16.III P-4RESect-16.III P-5RESect-16.III P-6RESect-16.III P-7RESect-16.III P-8RESect-16.III P-9RESect-16.III P-10RESect-16.III P-11RESect-16.III P-12RESect-16.III P-13RESect-16.III P-14RESect-16.III P-15RECh-16 P-1CRCh-16 P-2CRCh-16 P-3CRCh-16 P-4CRCh-16 P-5CRCh-16 P-6CRCh-16 P-7CRCh-16 P-8CRCh-16 P-9CRCh-16 P-10CRCh-16 P-11CRCh-16 P-12CRCh-16 P-13CRCh-16 P-14CRCh-16 P-1ATCh-16 P-2ATCh-16 P-3ATCh-16 P-4ATCh-16 P-5ATCh-16 P-6ATCh-16 P-7ATCh-16 P-8ATCh-16 P-9ATCh-16 P-10ATCh-16 P-11ATCh-16 P-12ATCh-16 P-13AT

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