%24 %24 Cengage Learning signment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook 4Show Me How ECalculator FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 8,100 units at $180 Sale 5,300 units at $300 First purchase 15,000 units at $185 Sale 13,000 units at $300 Second purchase 16,000 units at $192 Sale 14,000 units at $300 The firm uses the perpetual inventory system, and there are 6,800 units of the item on hand at the end of the year. a. What is the total cost of the ending inventory according to FIFO? b. What is the total cost of the ending inventory according to LIFO? ツ 日 a 五 prt sc f12" end home %24 N7.pdf CengageNOWv2|Online teachin x * Cengage Learning /takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3false eBook Show Me How Calculator FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 8,100 units at $180 Sale 5,300 units at $300 First purchase 15,000 units at $185 Sale 13,000 units at $300 Second purchase 16,000 units at $192 Sale 14,000 units at $300 The firm uses the perpetual inventory system, and there are 6,800 units of the item on hand at the end of the year a. What is the total cost of the ending inventory according to FIFO? 24 b. What is the total cost of the ending inventory according to LIFO?
%24 %24 Cengage Learning signment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook 4Show Me How ECalculator FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 8,100 units at $180 Sale 5,300 units at $300 First purchase 15,000 units at $185 Sale 13,000 units at $300 Second purchase 16,000 units at $192 Sale 14,000 units at $300 The firm uses the perpetual inventory system, and there are 6,800 units of the item on hand at the end of the year. a. What is the total cost of the ending inventory according to FIFO? b. What is the total cost of the ending inventory according to LIFO? ツ 日 a 五 prt sc f12" end home %24 N7.pdf CengageNOWv2|Online teachin x * Cengage Learning /takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3false eBook Show Me How Calculator FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 8,100 units at $180 Sale 5,300 units at $300 First purchase 15,000 units at $185 Sale 13,000 units at $300 Second purchase 16,000 units at $192 Sale 14,000 units at $300 The firm uses the perpetual inventory system, and there are 6,800 units of the item on hand at the end of the year a. What is the total cost of the ending inventory according to FIFO? 24 b. What is the total cost of the ending inventory according to LIFO?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:%24
%24
Cengage Learning
signment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false
eBook
4Show Me How
ECalculator
FIFO and LIFO Costs Under Perpetual Inventory System
The following units of an item were available for sale during the year:
Beginning inventory
8,100 units at $180
Sale
5,300 units at $300
First purchase
15,000 units at $185
Sale
13,000 units at $300
Second purchase
16,000 units at $192
Sale
14,000 units at $300
The firm uses the perpetual inventory system, and there are 6,800 units of the item on hand at the end of the year.
a. What is the total cost of the ending inventory according to FIFO?
b. What is the total cost of the ending inventory according to LIFO?
ツ
日 a 五
prt sc
f12"
end
home
Transcribed Image Text:%24
N7.pdf
CengageNOWv2|Online teachin x
* Cengage Learning
/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3false
eBook
Show Me How
Calculator
FIFO and LIFO Costs Under Perpetual Inventory System
The following units of an item were available for sale during the year:
Beginning inventory
8,100 units at $180
Sale
5,300 units at $300
First purchase
15,000 units at $185
Sale
13,000 units at $300
Second purchase
16,000 units at $192
Sale
14,000 units at $300
The firm uses the perpetual inventory system, and there are 6,800 units of the item on hand at the end of the year
a. What is the total cost of the ending inventory according to FIFO?
24
b. What is the total cost of the ending inventory according to LIFO?
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