i need the answer quickly Alternative Inventory MethodsGarrett Company has the following transactions during the months of April and May:DateTransactionUnitsCost/UnitApril 1Balance30017Purchase200$5.1025 Sale15028Purchase1005.70May 5Purchase2505.1018 Sale22 Sale30050The cost of the inventory on April 1 is $5, $4, and $2 per unit, respectively, under the FIFO, average, and LIFO cost flow assumptions.Required:1. Compute the inventories at the end of each month and the cost of goods sold for each month for the following alternatives:a. FIFO periodicCost of Goods Sold Ending InventoryApril $2,025 X $1,140 XMay$

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Description: i need the answer quickly Alternative Inventory MethodsGarrett Company has the following transactions during the months of April and May:DateTransactionUnitsCost/UnitApril 1Balance30017Purchase200$5.1025 Sale15028Purchase1005.70May 5Purchase2505.1018

Inventory includes all the items, merchandise, and raw materials that are used by the business…

Business

Accounting

Alternative Inventory Methods Garrett Company has the following transactions during the months of April and May: Date Transaction Units Cost/Unit April 1 Balance 300 17 Purchase 200 $5.10 25 Sale 150 28 Purchase 100 5.70 May 5 Purchase 250 5.10 18 Sale 300 22 Sale 50 The cost of the inventory on April 1 is $5, $4, and $2 per unit, respectively, under the FIFO, average, and LIFO cost flow assumptions. Required: 1. Compute the inventories at the end of each month and the cost of goods sold for each month for the following alternatives: a. FIFO periodic Cost of Goods Sold Ending Inventory April $ 2,025 X $ 1,140 X May $

Alternative Inventory Methods Garrett Company has the following transactions during the months of April and May: Date Transaction Units Cost/Unit April 1 Balance 300 17 Purchase 200 $5.10 25 Sale 150 28 Purchase 100 5.70 May 5 Purchase 250 5.10 18 Sale 300 22 Sale 50 The cost of the inventory on April 1 is $5, $4, and $2 per unit, respectively, under the FIFO, average, and LIFO cost flow assumptions. Required: 1. Compute the inventories at the end of each month and the cost of goods sold for each month for the following alternatives: a. FIFO periodic Cost of Goods Sold Ending Inventory April $ 2,025 X $ 1,140 X May $

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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