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Activities January 5 Beginning inventory Purchase A company's Inventory records show the following data for the month of January. Date January 1 Units Sold at Retail Units Acquired at Cost 190 units @ $9 = $1,710 180 units @ $10 = $1,800 January 9 Sale January 14 Purchase January 20 January 30 Sale Purchase 310 units @ $35 160 units @ $35 If the company uses the LIFO perpetual Inventory system, what would be the cost of the ending Inventory? 210 units @ $11 = $2,310 240 units @ $12 = $2,880 Goods purchased Cost of Goods Sold Inventory Balance Date Number of Cost per units unit Number of units sold Cost per Cost of Goods unit Sold Number of units Cost per unit Inventory Balance January 1 190 at $9.00 = $ 1,710.00 180 at $ 10.00 at $ 9.00 = January 5 at $ 10.00 = Total January 5 310 at $ 9.00 = January 9 Total January 9 210 at $ 11.00 January 14 Total January 14 January 20 Total January 20 240 at $9.00 = at $ 11.00 = at 荷荷 at $ 9.00 = $11.00 =

Activities January 5 Beginning inventory Purchase A company's Inventory records show the following data for the month of January. Date January 1 Units Sold at Retail Units Acquired at Cost 190 units @ $9 = $1,710 180 units @ $10 = $1,800 January 9 Sale January 14 Purchase January 20 January 30 Sale Purchase 310 units @ $35 160 units @ $35 If the company uses the LIFO perpetual Inventory system, what would be the cost of the ending Inventory? 210 units @ $11 = $2,310 240 units @ $12 = $2,880 Goods purchased Cost of Goods Sold Inventory Balance Date Number of Cost per units unit Number of units sold Cost per Cost of Goods unit Sold Number of units Cost per unit Inventory Balance January 1 190 at $9.00 = $ 1,710.00 180 at $ 10.00 at $ 9.00 = January 5 at $ 10.00 = Total January 5 310 at $ 9.00 = January 9 Total January 9 210 at $ 11.00 January 14 Total January 14 January 20 Total January 20 240 at $9.00 = at $ 11.00 = at 荷荷 at $ 9.00 = $11.00 =

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12E: Alternative Inventory Methods Park Companys perpetual inventory records indicate the following...
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A company's inventory records show the following data for the month of January.

Date Activities Units Acquired at Cost Units Sold at Retail
January 1 Beginning inventory 190 units @ $9 = $1,710  
January 5 Purchase 180 units @ $10 = $1,800  
January 9 Sale   310 units @ $35
January 14 Purchase 210 units @ $11 = $2,310  
January 20 Sale   160 units @ $35
January 30 Purchase 240 units @ $12 = $2,880  

If the company uses the LIFO perpetual inventory system, what would be the cost of the ending inventory?

Activities January 5 Beginning inventory Purchase A company's Inventory records show the following data for the month of January. Date January 1 Units Sold at Retail Units Acquired at Cost 190 units @ $9 = $1,710 180 units @ $10 = $1,800 January 9 Sale January 14 Purchase January 20 January 30 Sale Purchase 310 units @ $35 160 units @ $35 If the company uses the LIFO perpetual Inventory system, what would be the cost of the ending Inventory? 210 units @ $11 = $2,310 240 units @ $12 = $2,880 Goods purchased Cost of Goods Sold Inventory Balance Date Number of Cost per units unit Number of units sold Cost per Cost of Goods unit Sold Number of units Cost per unit Inventory Balance January 1 190 at $9.00 = $ 1,710.00 180 at $ 10.00 at $ 9.00 = January 5 at $ 10.00 = Total January 5 310 at $ 9.00 = January 9 Total January 9 210 at $ 11.00 January 14 Total January 14 January 20 Total January 20 240 at $9.00 = at $ 11.00 = at 荷荷 at $ 9.00 = $11.00 =
Transcribed Image Text:Activities January 5 Beginning inventory Purchase A company's Inventory records show the following data for the month of January. Date January 1 Units Sold at Retail Units Acquired at Cost 190 units @ $9 = $1,710 180 units @ $10 = $1,800 January 9 Sale January 14 Purchase January 20 January 30 Sale Purchase 310 units @ $35 160 units @ $35 If the company uses the LIFO perpetual Inventory system, what would be the cost of the ending Inventory? 210 units @ $11 = $2,310 240 units @ $12 = $2,880 Goods purchased Cost of Goods Sold Inventory Balance Date Number of Cost per units unit Number of units sold Cost per Cost of Goods unit Sold Number of units Cost per unit Inventory Balance January 1 190 at $9.00 = $ 1,710.00 180 at $ 10.00 at $ 9.00 = January 5 at $ 10.00 = Total January 5 310 at $ 9.00 = January 9 Total January 9 210 at $ 11.00 January 14 Total January 14 January 20 Total January 20 240 at $9.00 = at $ 11.00 = at 荷荷 at $ 9.00 = $11.00 =
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