Oriole Company had 145 units in beginning inventory at a total cost of $15,225. The company purchased 290 units at a total cost of$47,850. At the end of the year, Oriole had 65 units in ending inventory.(a)ACompute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost perunit and final answers to O decimal places, e.g. 1,250.)The cost of the endinginventoryThe cost of goods sold$AFIFOLIFOLAAverage-cost Beginning inventoryCost of goods purchasedCost of goods available for saleEnding inventoryCost of goods sold(a1)Flint CompanyInventory turnover$46,000197,500243,50055.000$188,500Pina Colada Company$72,500Flint Company294,000366,50073,000Compute inventory turnover for each company. (Round answers to 2 decimal places, e.g. 15.25.)$293,500Pina Colada Company

Name: Oriole Company had 145 units in beginning inventory at a total cost o
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Description: Oriole Company had 145 units in beginning inventory at a total cost of $15,225. The company purchased 290 units at a total cost of$47,850. At the end of the year, Oriole had 65 units in ending inventory.(a)ACompute the cost of the ending inventory a

FIFO METHOD:— It stands For First in First Out. In this Method Firstly Beginning Inventory is used…

Answered: Compute the cost of the ending…

Business

Accounting

Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to 0 decimal places, e.g. 1,250.)

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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Oriole Company's record of transactions concerning part WA6 for the month of September was as follows. Purchases September 1 (balance on hand) 3 (a1) نا 12 292 2 16 300 200 @ 300 @ 300 @ 500 @ 300 @ $13.00 Average-cost per unit $ @ 13.10 13.25 13.30 13.30 13.40 Sales September 4 17 27 30 400 600 300 200 Calculate average-cost per unit. Assume that perpetual inventory records are kept in units only. (Round answer to 2 decimal places, eg. 2.76.)
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Hh1.
Please help me with required 1 and 2.
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Subject: accounting
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