.ll Verizon LTE 11:41 AM 1 0 77% AA v2.cengagenow.com CengageNOWv2 | Online teaching and learning resource from Cengage Leaming Close Window Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item Foxtrot are as follows: Mar. 1 Inventory 270 units at $18 Sale 225 units 15 Purchase 375 units at $20 27 Sale 240 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on March 27 and (b) the inventory on March 31. a. Cost of merchandise sold on March 27 %24 b. Inventory on March 31 4. PE.07-04B O eBook Show Me How Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 300 units at $8 13 Sale 175 units 22 Purchase 375 units at $10 29 Sale 280 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of the merchandise sold on October 29. Round your "average unit cost" to two decimal places. 2$ c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places.
.ll Verizon LTE 11:41 AM 1 0 77% AA v2.cengagenow.com CengageNOWv2 | Online teaching and learning resource from Cengage Leaming Close Window Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item Foxtrot are as follows: Mar. 1 Inventory 270 units at $18 Sale 225 units 15 Purchase 375 units at $20 27 Sale 240 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on March 27 and (b) the inventory on March 31. a. Cost of merchandise sold on March 27 %24 b. Inventory on March 31 4. PE.07-04B O eBook Show Me How Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 300 units at $8 13 Sale 175 units 22 Purchase 375 units at $10 29 Sale 280 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of the merchandise sold on October 29. Round your "average unit cost" to two decimal places. 2$ c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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CengageNOWv2 | Online teaching and learning resource from Cengage Leaming
Close Window
Perpetual Inventory Using LIFO
Beginning inventory, purchases, and sales for Item Foxtrot are as follows:
Mar. 1
Inventory
270 units at $18
Sale
225 units
15
Purchase
375 units at $20
27
Sale
240 units
Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method,
determine (a) the cost of merchandise sold on March 27 and (b) the inventory on March 31.
a. Cost of merchandise sold on March 27
%24
b. Inventory on March 31
4. PE.07-04B
O eBook
Show Me How
Perpetual Inventory Using Weighted Average
Beginning inventory, purchases, and sales for WCS12 are as follows:
Oct. 1
Inventory
300 units at $8
13
Sale
175 units
22
Purchase
375 units at $10
29
Sale
280 units
a. Assuming a perpetual inventory system and using the weighted average method,
determine the weighted average unit cost after the October 22 purchase. Round your answer
to two decimal places.
per unit
b. Assuming a perpetual inventory system and using the weighted average method,
determine the cost of the merchandise sold on October 29. Round your "average unit cost"
to two decimal places.
2$
c. Assuming a perpetual inventory system and using the weighted average method,
determine the inventory on October 31. Round your "average unit cost" to two decimal
places.
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