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BEG INV & purchases Feb 1: Beginning Inventory: 150 Units @ $8 cost per unit Feb 14: PURCHASE from a vendor of 225 Units @ $12 cost per unit Feb 20: PURCHASE from a vendor of 325 Units @ $14 cost per unit Sales made to customers: Feb 8: SALE to a customer of 75 Units @ $18 sales price per unit Feb 18: SALE to customer of 250 Units @ $22 sales price per unit Feb 25: SALE to customer of 175 units @ $24 sales price per unit

BEG INV & purchases Feb 1: Beginning Inventory: 150 Units @ $8 cost per unit Feb 14: PURCHASE from a vendor of 225 Units @ $12 cost per unit Feb 20: PURCHASE from a vendor of 325 Units @ $14 cost per unit Sales made to customers: Feb 8: SALE to a customer of 75 Units @ $18 sales price per unit Feb 18: SALE to customer of 250 Units @ $22 sales price per unit Feb 25: SALE to customer of 175 units @ $24 sales price per unit

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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Answer 2nd picture: Inventory costing: perpetual system
INVENTORY COSTING: PERPETUAL SYSTEM (part 3 of 4) Use the same inventory transactions listed above Calculate COGS for the month of February and Ending Inventory (El) (in dollars, not units) YOU MAY USE THE FORMAT/PROCESS I SHOWED WHEN SOLVING EXAMPLES, OR YOUR OWN FORMAT. PLEASE CLEARLY LABEL YOUR WORK! Perpetual Weighted AVG COGS $ Perpetual Weighted AVG EI $ Perpetual LIFO COGS $ Perpetual LIFO EI $ Search or type URL % & %24
Transcribed Image Text:INVENTORY COSTING: PERPETUAL SYSTEM (part 3 of 4) Use the same inventory transactions listed above Calculate COGS for the month of February and Ending Inventory (El) (in dollars, not units) YOU MAY USE THE FORMAT/PROCESS I SHOWED WHEN SOLVING EXAMPLES, OR YOUR OWN FORMAT. PLEASE CLEARLY LABEL YOUR WORK! Perpetual Weighted AVG COGS $ Perpetual Weighted AVG EI $ Perpetual LIFO COGS $ Perpetual LIFO EI $ Search or type URL % & %24
INVENTORY COSTING: ALL 6 WAYS (Part 1 of 4) Below are inventory purchases and sales transactions during the month of February. You will be asked for COGS & El for all 6 methods we learned. The answers are split into different questions for grading and point purposes. Your work must be on your PDF! NO WORK = NO CREDIT. PLEASE label which method you are solving. BEG INV & purchases Feb 1: Beginning Inventory: 150 Units @ $8 cost per unit Feb 14: PURCHASE from a vendor of 225 Units @ $12 cost per unit Feb 20: PURCHASE from a vendor of 325 Units @ $14 cost per unit Sales made to customers: Feb 8: SALE to a customer of 75 Units @ $18 sales price per unit Feb 18: SALE to customer of 250 Units @ $22 sales price per unit Feb 25: SALE to customer of 175 units @ $24 sales price per unit Sales made to customers: Feb 8: SALE to a customer of 75 Units @ $18 sales price per unit Use the transactions above to determine: Goods Available for Sale in Dollars and Units Feb 18: SALE to customer of 250 Units @ $22 sales price per unit GAFS $(in dollars) Feb 25: SALE to customer of 175 units @ $24 sales price per unit Use the transactions above to determine: Goods Available for Sale in Dollars and Units GAFS $(in dollars) G Search or type URL GAFS Units (QTY) $ % & Sales in dollars and units Sales $(in dollars) Units sold (QTY) Units in Ending Inventory(QTY)
Transcribed Image Text:INVENTORY COSTING: ALL 6 WAYS (Part 1 of 4) Below are inventory purchases and sales transactions during the month of February. You will be asked for COGS & El for all 6 methods we learned. The answers are split into different questions for grading and point purposes. Your work must be on your PDF! NO WORK = NO CREDIT. PLEASE label which method you are solving. BEG INV & purchases Feb 1: Beginning Inventory: 150 Units @ $8 cost per unit Feb 14: PURCHASE from a vendor of 225 Units @ $12 cost per unit Feb 20: PURCHASE from a vendor of 325 Units @ $14 cost per unit Sales made to customers: Feb 8: SALE to a customer of 75 Units @ $18 sales price per unit Feb 18: SALE to customer of 250 Units @ $22 sales price per unit Feb 25: SALE to customer of 175 units @ $24 sales price per unit Sales made to customers: Feb 8: SALE to a customer of 75 Units @ $18 sales price per unit Use the transactions above to determine: Goods Available for Sale in Dollars and Units Feb 18: SALE to customer of 250 Units @ $22 sales price per unit GAFS $(in dollars) Feb 25: SALE to customer of 175 units @ $24 sales price per unit Use the transactions above to determine: Goods Available for Sale in Dollars and Units GAFS $(in dollars) G Search or type URL GAFS Units (QTY) $ % & Sales in dollars and units Sales $(in dollars) Units sold (QTY) Units in Ending Inventory(QTY)
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