← D2L Homepage - ACC-201-10241-M X CengageNOWv2 | Online teach X Changes in Current Operating ×+ 个 C n v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator-assig... MySNHU D2L Brightspace Mail Mattie, Emily... M Inbox - emilymattie... Word | Microsoft 365 Google Docs Free APA Citation G... VitalSource Booksh... n ... » All Bookmarks Module 3 Problem Set 2. EX.05.02 3. EX.05.01 4. BE.06.08 5. EX.05.04 6. BE.06.03.ALGO 7. BE.06.01.ALGO eBook Show Me How Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 8 units at $40 $320 Aug. 13 Purchase 8 units at $42 336 Nov. 30 Purchase 5 units at $44 220 Available for sale 21 units $876 There are 8 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per- unit cost to two decimal places and your final answer to the nearest whole dollar). 8. EX.06.07.ALGO a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) 9. BE.06.06.ALGO c. Weighted average cost 10. BE.06.04.ALGO 11. BE.06.02.ALGO 12. EX.06.02 13. EX.05.06 14 BF 05.01 ALGO Type here to search ינ & 60°F Partly cloudy ^ 48 11:15 PM 6/26/2024 PRE
← D2L Homepage - ACC-201-10241-M X CengageNOWv2 | Online teach X Changes in Current Operating ×+ 个 C n v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator-assig... MySNHU D2L Brightspace Mail Mattie, Emily... M Inbox - emilymattie... Word | Microsoft 365 Google Docs Free APA Citation G... VitalSource Booksh... n ... » All Bookmarks Module 3 Problem Set 2. EX.05.02 3. EX.05.01 4. BE.06.08 5. EX.05.04 6. BE.06.03.ALGO 7. BE.06.01.ALGO eBook Show Me How Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 8 units at $40 $320 Aug. 13 Purchase 8 units at $42 336 Nov. 30 Purchase 5 units at $44 220 Available for sale 21 units $876 There are 8 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per- unit cost to two decimal places and your final answer to the nearest whole dollar). 8. EX.06.07.ALGO a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) 9. BE.06.06.ALGO c. Weighted average cost 10. BE.06.04.ALGO 11. BE.06.02.ALGO 12. EX.06.02 13. EX.05.06 14 BF 05.01 ALGO Type here to search ינ & 60°F Partly cloudy ^ 48 11:15 PM 6/26/2024 PRE
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:←
D2L Homepage - ACC-201-10241-M X
CengageNOWv2 | Online teach X
Changes in Current Operating ×+
个
C n
v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator-assig...
MySNHU D2L Brightspace
Mail Mattie, Emily... M Inbox - emilymattie... Word | Microsoft 365
Google Docs Free APA Citation G...
VitalSource Booksh...
n
...
» All Bookmarks
Module 3 Problem Set
2. EX.05.02
3. EX.05.01
4. BE.06.08
5. EX.05.04
6. BE.06.03.ALGO
7. BE.06.01.ALGO
eBook
Show Me How
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods
The units of an item available for sale during the year were as follows:
Jan. 1
Inventory
8 units at $40
$320
Aug. 13
Purchase
8 units at $42
336
Nov. 30
Purchase
5 units at $44
220
Available for sale
21 units
$876
There are 8 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory
cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-
unit cost to two decimal places and your final answer to the nearest whole dollar).
8. EX.06.07.ALGO
a. First-in, first-out (FIFO)
b. Last-in, first-out (LIFO)
9. BE.06.06.ALGO
c. Weighted average cost
10. BE.06.04.ALGO
11. BE.06.02.ALGO
12. EX.06.02
13. EX.05.06
14 BF 05.01 ALGO
Type here to search
ינ
&
60°F Partly cloudy
^
48
11:15 PM
6/26/2024
PRE
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