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ation pter 6)

ation pter 6)

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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How to calculate this using the Periodic Weighted Formula method & the Perpetual FIFO method

 

A1 1 NT < LO A 5 6 |fx 2 Practice Problem #5 (Chapter 6) 3 Question #1 4 Inventory Valuation B Date 7 6/1/2023 Beginning inventory 8 6/5/2023 Usage 9 6/8/2023 Usage 10 6/11/2023 Purchase Transaction 11 6/15/2023 Purchase 12 6/18/2023 Usage 13 6/20/2023 Purchase 14 6/25/2023 Usage 15 6/28/2023 Usage 16 6/29/2023 Purchase 17 18 19 20 21 22 23 24 25 26 27 с D Units Price/unit 275 $1.50 30 90 70 120 150 125 95 110 70 $2.25 E $1.75 $122.50 $2.00 $240.00 $281.25 Total Price $412.50 a) Inventory Valuation as of 6/30/2023 b) Inventory Expense for month of June 2023 $2.50 $175.00 F G H
Transcribed Image Text:A1 1 NT < LO A 5 6 |fx 2 Practice Problem #5 (Chapter 6) 3 Question #1 4 Inventory Valuation B Date 7 6/1/2023 Beginning inventory 8 6/5/2023 Usage 9 6/8/2023 Usage 10 6/11/2023 Purchase Transaction 11 6/15/2023 Purchase 12 6/18/2023 Usage 13 6/20/2023 Purchase 14 6/25/2023 Usage 15 6/28/2023 Usage 16 6/29/2023 Purchase 17 18 19 20 21 22 23 24 25 26 27 с D Units Price/unit 275 $1.50 30 90 70 120 150 125 95 110 70 $2.25 E $1.75 $122.50 $2.00 $240.00 $281.25 Total Price $412.50 a) Inventory Valuation as of 6/30/2023 b) Inventory Expense for month of June 2023 $2.50 $175.00 F G H
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