Date Transaction Num 8/1 Beginning inventory 8/3 Purchase No. 1 8/5 Sale No. 1 817 Sale No. 2 8/11 Purchase No. 2 8/17 Sale No. 3 8/19 Purchase No. 3 8/21 Sale No. 4 I 8/28 Sale No. 5 8/29 Purchase No. 4 8/30 Ending inventory Required: Determine the amount of the ending inventory and cost of goods sold un of the following methods assuming the periodic inventory system. Method Weighted-average FIFO 55 Inventory
Date Transaction Num 8/1 Beginning inventory 8/3 Purchase No. 1 8/5 Sale No. 1 817 Sale No. 2 8/11 Purchase No. 2 8/17 Sale No. 3 8/19 Purchase No. 3 8/21 Sale No. 4 I 8/28 Sale No. 5 8/29 Purchase No. 4 8/30 Ending inventory Required: Determine the amount of the ending inventory and cost of goods sold un of the following methods assuming the periodic inventory system. Method Weighted-average FIFO 55 Inventory
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter6: Receivables And Inventories
Section: Chapter Questions
Problem 6.19E: Inventory on the balance sheet Based on thy data in Exercise 6-18 and assuming that cost was...
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Transcribed Image Text:Date
Transaction
Number of Units
Unit Cost
& 1
Beginning inventory
400
$10
8/3
Purchase No. 1
600
$10
85
Sale No. 1
500
817
Sale No. 2
200
8/11
Purchase No. 2
800
$12
8/17
Sale No. 3
1900
8/19
Purchase No. 3
1500
$11
8/21
Sale No. 4
I
800
8/28
Sale No. 5
500
8/29
Purchase No. 4
900
$10
8/30 Ending inventory
Required:
Determine the amount of the ending inventory and cost of goods sold under
of the following methods assuming the periodic inventory system.
Method
Weighted-average
b
FIFO
S
each
Inventory
Cost of Goods
Sold
$
$
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