At the start of August 2022, OLIVIA Company had no beginning inventories. In addition, the following inventory transactions happened during the month of August 2022 Determine the amount of ending inventory under Weighted average – perpetual: Determine the amount of COGS under FIFO – perpetual: Determine the amount of COGS under Weighted average – perpetual: Determine the amount of ending inventory under Weighted average – periodic: Determine the amount of ending inventory under FIFO – periodic: Determine the amount of COGS under FIFO – periodic: Determine the amount of ending inventory under FIFO – perpetual: Determine the amount of COGS under Weighted average – periodic:
At the start of August 2022, OLIVIA Company had no beginning inventories. In addition, the following inventory transactions happened during the month of August 2022 Determine the amount of ending inventory under Weighted average – perpetual: Determine the amount of COGS under FIFO – perpetual: Determine the amount of COGS under Weighted average – perpetual: Determine the amount of ending inventory under Weighted average – periodic: Determine the amount of ending inventory under FIFO – periodic: Determine the amount of COGS under FIFO – periodic: Determine the amount of ending inventory under FIFO – perpetual: Determine the amount of COGS under Weighted average – periodic:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
At the start of August 2022, OLIVIA Company had no beginning inventories. In addition, the following inventory transactions happened during the month of August 2022
Determine the amount of ending inventory under Weighted average – perpetual:
Determine the amount of COGS under FIFO – perpetual:
Determine the amount of COGS under Weighted average – perpetual:
Determine the amount of ending inventory under Weighted average – periodic:
Determine the amount of ending inventory under FIFO – periodic:
Determine the amount of COGS under FIFO – periodic:
Determine the amount of ending inventory under FIFO – perpetual:
Determine the amount of COGS under Weighted average – periodic:
Transcribed Image Text:Purchases
Sales
Unit
Total
Sales
Date
Units
Cost
Cost
Date
Units Revenue
8/1
8/5
8/7
8/12
P50
8/8
8/17
8/31
1,500 P120,000
2,500
1,000
P50,000
3,000
55
165,000
200,000
2,000
58
116,000
2,200
176,000
900
58
52,200
Total
6,200 P496,000
8/21
800
60
48,000
Total
7,700
TGAS P431,200
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