Crane Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 61 units at a cost of Số per unit. During April, the following purchases and sales were made. Purchases April 7 51 units at $7.00 13 102 units at $8.00 23 72 units at $9.00 29 41 units at $10.00 266
Crane Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 61 units at a cost of Số per unit. During April, the following purchases and sales were made. Purchases April 7 51 units at $7.00 13 102 units at $8.00 23 72 units at $9.00 29 41 units at $10.00 266
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 3E: Basga Company uses the periodic inventory system. Beginning inventory amounted to 241,072. A...
Related questions
Question
Plz explain in detail
![Compute the April 30 ending inventory and April cost of goods sold under ta) average cost, (bi FIFO, and (c) LIFO. (Round cost per unit to
2 decimal places, eg 15.25 and final answer to O decimal places, eg 1,525)
(a)
Average-cost - Ending Inventory
Cost of Goods Sold
(b)
FIFO-Ending Inventory
%24
Cost of Goods Sold
(c)
LIFO- Ending inventory
Cost of Goodh Sold](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F22e56984-3075-4baf-a2ae-19b098a5f3fc%2Fcc557dca-85af-4f0f-9e0c-12917c14a75b%2F8s7wel_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Compute the April 30 ending inventory and April cost of goods sold under ta) average cost, (bi FIFO, and (c) LIFO. (Round cost per unit to
2 decimal places, eg 15.25 and final answer to O decimal places, eg 1,525)
(a)
Average-cost - Ending Inventory
Cost of Goods Sold
(b)
FIFO-Ending Inventory
%24
Cost of Goods Sold
(c)
LIFO- Ending inventory
Cost of Goodh Sold
![Crane Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 61 units at a cost of
$6 per unit. During April, the following purchases and sales were made.
Purchases
April 7
51
units at $7.00
13
102
units at $8.00
23
72
units at $9.00
29
41
units at $10.00
266
Sales
April 5
102
units at $20
11
72
units at $20
20
62
units at $20
30
31
units at $20
267](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F22e56984-3075-4baf-a2ae-19b098a5f3fc%2Fcc557dca-85af-4f0f-9e0c-12917c14a75b%2Fbvhrymp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Crane Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 61 units at a cost of
$6 per unit. During April, the following purchases and sales were made.
Purchases
April 7
51
units at $7.00
13
102
units at $8.00
23
72
units at $9.00
29
41
units at $10.00
266
Sales
April 5
102
units at $20
11
72
units at $20
20
62
units at $20
30
31
units at $20
267
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![College Accounting (Book Only): A Career Approach](https://www.bartleby.com/isbn_cover_images/9781337280570/9781337280570_smallCoverImage.gif)
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781305088436/9781305088436_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337272124/9781337272124_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![College Accounting (Book Only): A Career Approach](https://www.bartleby.com/isbn_cover_images/9781337280570/9781337280570_smallCoverImage.gif)
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781305088436/9781305088436_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337272124/9781337272124_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![Financial And Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337902663/9781337902663_smallCoverImage.jpg)
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Financial Accounting: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning