Drill Problem 15-3 (Algo) [LU 15-1 (2)]Given the following:January 1 InventoryApril 1June 1November 1Cost of ending inventoryNumberpurchased5171Cost of goods sold6166249Cost per unit67Total$ 153426427Required:a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 72 units).$ 1,834b. Calculate the cost of goods sold using the FIFO (ending inventory shows 72 units).

Name: Drill Problem 15-3 (Algo) [LU 15-1 (2)]Given the following:January 1
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Drill Problem 15-3 (Algo) [LU 15-1 (2)]Given the following:January 1 InventoryApril 1June 1November 1Cost of ending inventoryNumberpurchased5171Cost of goods sold6166249Cost per unit67Total$ 153426427Required:a. Calculate the cost of ending inventor

Business

Accounting

Drill Problem 15-3 (Algo) [LU 15-1 (2)] Given the following: January 1 Inventory April 1 June 1 November 1 Cost of ending inventory Number purchased 51 71 Cost of goods sold 61 66 249 Cost per unit 6 7 Total $ 153 426 Required: a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 72 units). 427 $ 1,834 b. Calculate the cost of goods sold using the FIFO (ending inventory shows 72 units).

Drill Problem 15-3 (Algo) [LU 15-1 (2)] Given the following: January 1 Inventory April 1 June 1 November 1 Cost of ending inventory Number purchased 51 71 Cost of goods sold 61 66 249 Cost per unit 6 7 Total $ 153 426 Required: a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 72 units). 427 $ 1,834 b. Calculate the cost of goods sold using the FIFO (ending inventory shows 72 units).

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please do not give solution in image format thanku
Please do not give solution in image format thanku
hh.2
please answer question
pvn.2
Do not give solution in image
W Using the specific identification method: Units purchased 15 Echo Show's 360 45 Echo Show's 360 60 Echo Show's 360 a. Calculate the cost of ending inventory. Date June 1 July 1 August 1 Ending inventory b. Calculate the cost of goods sold. Cost of goods sold Cost per unit $ 275 250 240
Problem 7. Determine the ending inventory using weigthed average method. Flores Company had the following transactions relating to inventory during January. Unit Cost 150 200 Jan 1 5 Balance on hand Purchase Sale Sale 10 15 20 Purchase 25 Purchase 31 Sale Your answer Units 6,000 2,000 4,000 1,000 2,500 2,000 3,000 300 400
7 3 ences Given the following: Mc Graw Hill January 1 inventory April 1 June 1 November 1 Cost of ending inventory Number purchased 40 60 50 55 205 Cost of goods sold Cost per unit $ 4 7 8 9 a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 61 units_ Note: Round the "average unit cost" and final answer to the nearest cent. AS
Please do not give solution in image format thanku
Please do not give solution in image format thanku
Please do not give solution in image format thanku