Please do not give solution in image format thanku Ayayai Company Inc. had a beginning inventory of 80 units of Product RST at a cost of $6 per unit. During theyear, purchases were:Feb. 20May 5480units at $7400 units at $8Aug. 12Dec. 8320 units at $9160 units at $10Ayayai Company uses a periodic inventory system. Sales totaled 1,200 units. (b)Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods(FIFO, LIFO, and average-cost). (For calculation purposes, round average cost to 2 decimal places,e.g. 5.25. Round answers to 0 decimal places, e.g. 125.)TheendinginventoryThe costof goodssold$FIFOeTextbook and MediaList of Accounts+ALIFOAVERAGE-COST

Inventory valuation is based on the flow-off issue used by the organization. It can be the first in…

Ayayai Company Inc. had a beginning inventory of 80 units of Product RST at a cost of $6 per unit. During the year, purchases were: Feb. 20 May 5 480 units at $7 400 units at $8 Aug. 12 Dec. 8 320 units at $9 160 units at $10 Ayayai Company uses a periodic inventory system. Sales totaled 1,200 units.

Ayayai Company Inc. had a beginning inventory of 80 units of Product RST at a cost of $6 per unit. During the year, purchases were: Feb. 20 May 5 480 units at $7 400 units at $8 Aug. 12 Dec. 8 320 units at $9 160 units at $10 Ayayai Company uses a periodic inventory system. Sales totaled 1,200 units.

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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