1.. On January 2020, Roel Corp. Has the following inventory purchases.JanuaryUnitsAmount45,750P7,50095,100 5,850177,600 6,300276,600 4,950A physical count of inventory on January 30 reveals that there are 1,000 units on hand.Under the weighted average cost method , What is the amount allocated to the ending inventory on January 31, 2020?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

1.. On January 2020, Roel Corp. Has the following inventory purchases.JanuaryUnitsAmount45,750P7,50095,100 5,850177,600 6,300276,600 4,950A physical count of inventory on January 30 reveals that there are 1,000 units on hand.Under the weighted average cost method , What is the amount allocated to the ending inventory on January 31, 2020?

2. On January 2020, Roel Corp. Has th following inventory purchases.JanuaryUnitsAmount35,750P7,50085,100 5,850167,600 6,300266,600 4,950A physical count of inventory on January 30 reveals that there are 1,000 units on hand.Under the FIFO inventory method, what is the value of the ending inventory on January 31, 2020?

 

3. On January 2020, Roel Corp. Has th following inventory purchases.JanuaryUnitsAmount25,750P7,50075,100 5,850157,600 6,300256,600 4,950A physical count of inventory on January 30 reveals that there are 1,000 units on hand.Under the LIFO inventory method, what is the value of the ending inventory on January 31, 2020?

Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education