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2. BBB Company provided the following information: Jan 1 Beg Balance 5 Purchase Sale 15 16 Sale Return 25 26 30 Purchase Purchase Return Sale Units 10,000 10,000 15,000 1,000 4,000 500 2,000 Unit Cost 150 180 200 200 Total Cost 1,500,000 1,800,000 800,000 100,000 Compute the ending inventory under the following: (Use whole number for the unit cost) a. FIFO b. Average Method-Perpetual c. Average Method-Periodic

2. BBB Company provided the following information: Jan 1 Beg Balance 5 Purchase Sale 15 16 Sale Return 25 26 30 Purchase Purchase Return Sale Units 10,000 10,000 15,000 1,000 4,000 500 2,000 Unit Cost 150 180 200 200 Total Cost 1,500,000 1,800,000 800,000 100,000 Compute the ending inventory under the following: (Use whole number for the unit cost) a. FIFO b. Average Method-Perpetual c. Average Method-Periodic

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2. BBB Company provided the following information: Units Beg Balance 10,000 Purchase 10,000 Sale 15,000 Sale Return 1,000 4,000 500 2,000 Jan 1 5 15 16 25 26 30 Purchase Purchase Return Sale Unit Cost 150 180 200 200 Total Cost 1,500,000 1,800,000 800,000 100,000 Compute the ending inventory under the following: (Use whole number for the unit cost) a. FIFO b. Average Method-Perpetual c. Average Method-Periodic
Transcribed Image Text:2. BBB Company provided the following information: Units Beg Balance 10,000 Purchase 10,000 Sale 15,000 Sale Return 1,000 4,000 500 2,000 Jan 1 5 15 16 25 26 30 Purchase Purchase Return Sale Unit Cost 150 180 200 200 Total Cost 1,500,000 1,800,000 800,000 100,000 Compute the ending inventory under the following: (Use whole number for the unit cost) a. FIFO b. Average Method-Perpetual c. Average Method-Periodic
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