D lectures,mi × D Quiz 6-Ch x D chapter 7/X 6 Goods ava × N Stream TV × D BTS WORLD X FINANCIAL >< A How do yo 6 how to find + × A Not secure ezto.mheducation.com/hm.tpx Financial accounting - Ivy Zhang: Winter 2019 Fatimah Bint Sadiq ACCOUNTING Abdulm Quiz 6-Chapter 7 instructions I help Question 4 (of 6) Save & Ex Submit Time remaining: 0:02:48 The following Information applles to the questions displayed below.] At the end of January of the current year, the records of Donner Company showed the following for a particular Item that sold at $1760 per unit: Transactions Units Amount Inventory, January 1 Purchase, Jonuary 12 Purchase, January 26 Sale 660 3,168 630 190 (520) 200) 4,284 1,672 4 Required information Required: 1a. Compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. Assume that the company uses periodic inventory system. (Round unit price to 2 decimal places. Input all amounts as positive values.) Average Cost Cost of Good Available for Sale Cost of Goods Sold Cost of Cost of Goods | # of Units | Cost per | Goods for Sale S 11,816 # of Units | Cost per Unit Available Sold Unit Sold Beginning inventory 860 RENG 10:24 PM 2/20/2019 Type here to search
D lectures,mi × D Quiz 6-Ch x D chapter 7/X 6 Goods ava × N Stream TV × D BTS WORLD X FINANCIAL >< A How do yo 6 how to find + × A Not secure ezto.mheducation.com/hm.tpx Financial accounting - Ivy Zhang: Winter 2019 Fatimah Bint Sadiq ACCOUNTING Abdulm Quiz 6-Chapter 7 instructions I help Question 4 (of 6) Save & Ex Submit Time remaining: 0:02:48 The following Information applles to the questions displayed below.] At the end of January of the current year, the records of Donner Company showed the following for a particular Item that sold at $1760 per unit: Transactions Units Amount Inventory, January 1 Purchase, Jonuary 12 Purchase, January 26 Sale 660 3,168 630 190 (520) 200) 4,284 1,672 4 Required information Required: 1a. Compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. Assume that the company uses periodic inventory system. (Round unit price to 2 decimal places. Input all amounts as positive values.) Average Cost Cost of Good Available for Sale Cost of Goods Sold Cost of Cost of Goods | # of Units | Cost per | Goods for Sale S 11,816 # of Units | Cost per Unit Available Sold Unit Sold Beginning inventory 860 RENG 10:24 PM 2/20/2019 Type here to search
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I am trying to figure out the question on the picture attached. I am not sure what I am doing right and what I am doing wrong.
![D lectures,mi × D Quiz 6-Ch x D chapter 7/X 6 Goods ava × N Stream TV × D
BTS WORLD X
FINANCIAL >< A How do yo
6 how to find
+
×
A Not secure ezto.mheducation.com/hm.tpx
Financial accounting - Ivy Zhang: Winter 2019
Fatimah Bint Sadiq
ACCOUNTING
Abdulm
Quiz 6-Chapter 7
instructions I help
Question 4 (of 6)
Save & Ex Submit
Time remaining: 0:02:48
The following Information applles to the questions displayed below.]
At the end of January of the current year, the records of Donner Company showed the following for a particular Item that sold at $1760 per unit:
Transactions
Units
Amount
Inventory, January 1
Purchase, Jonuary 12
Purchase, January 26
Sale
660 3,168
630
190
(520)
200)
4,284
1,672
4
Required information
Required:
1a. Compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from
the January 12 purchase. Assume that the company uses periodic inventory system. (Round unit price to 2 decimal places. Input all amounts as positive values.)
Average Cost
Cost of Good Available for Sale
Cost of Goods Sold
Cost of
Cost of
Goods | # of Units | Cost per | Goods
for Sale
S 11,816
# of Units | Cost per
Unit
Available
Sold
Unit
Sold
Beginning inventory
860
RENG 10:24 PM
2/20/2019
Type here to search](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F075e66dc-8368-43b7-bd9f-c8d679c6b5d9%2F41e6589c-d363-4b9b-a1df-1d83bf2fe24d%2Fsr4lopq.png&w=3840&q=75)
Transcribed Image Text:D lectures,mi × D Quiz 6-Ch x D chapter 7/X 6 Goods ava × N Stream TV × D
BTS WORLD X
FINANCIAL >< A How do yo
6 how to find
+
×
A Not secure ezto.mheducation.com/hm.tpx
Financial accounting - Ivy Zhang: Winter 2019
Fatimah Bint Sadiq
ACCOUNTING
Abdulm
Quiz 6-Chapter 7
instructions I help
Question 4 (of 6)
Save & Ex Submit
Time remaining: 0:02:48
The following Information applles to the questions displayed below.]
At the end of January of the current year, the records of Donner Company showed the following for a particular Item that sold at $1760 per unit:
Transactions
Units
Amount
Inventory, January 1
Purchase, Jonuary 12
Purchase, January 26
Sale
660 3,168
630
190
(520)
200)
4,284
1,672
4
Required information
Required:
1a. Compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from
the January 12 purchase. Assume that the company uses periodic inventory system. (Round unit price to 2 decimal places. Input all amounts as positive values.)
Average Cost
Cost of Good Available for Sale
Cost of Goods Sold
Cost of
Cost of
Goods | # of Units | Cost per | Goods
for Sale
S 11,816
# of Units | Cost per
Unit
Available
Sold
Unit
Sold
Beginning inventory
860
RENG 10:24 PM
2/20/2019
Type here to search
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