E19 Closing Inventory Dec Type Qty Price 1 Op Inv 65 $34.00 1 Purchase 79 $36.25 11 Purchase 72 $36.50 18 Purchase 60 $36.75 22 Purchase 59 $37.00 3 Sale -84 $45.00 5 Sale -45 $46.00 19 Sale -85 $48.00 29 Sale -48 $49.00 31 Sale -57 $50.00 Required: a) Calculate closing inventory Qty and Value as per FIFO method b) Calculate closing inventory Qty and Value as per Weightage Average method

E19 Closing Inventory Dec Type Qty Price 1 Op Inv 65 $34.00 1 Purchase 79 $36.25 11 Purchase 72 $36.50 18 Purchase 60 $36.75 22 Purchase 59 $37.00 3 Sale -84 $45.00 5 Sale -45 $46.00 19 Sale -85 $48.00 29 Sale -48 $49.00 31 Sale -57 $50.00 Required: a) Calculate closing inventory Qty and Value as per FIFO method b) Calculate closing inventory Qty and Value as per Weightage Average method

Name: FE19Closing InventoryDec Type Qty Price1 Op Inv 65 $34.001 Purchase 79
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Description: FE19Closing InventoryDec Type Qty Price1 Op Inv 65 $34.001 Purchase 79 $36.2511 Purchase 72 $36.5018 Purchase 60 $36.7522 Purchase 59 $37.003 Sale -84 $45.005 Sale -45 $46.0019 Sale -85 $48.0029 Sale -48 $49.0031 Sale -57 $50.00Required:a) Calculate

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Inventories

Section: Chapter Questions

Problem 6.2BE: Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as...

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FE9Advice the closing inventory value as at July 31stProduct Qty On Hand Cost NRVWJ01 225 $0.05 $1.00WJ02 114 $0.20 $0.90WJ03 74 $2.00 $1.60WJ04 35 $6.20 $6.18WJ05 3 $2,500.00 $2,550.00WJ06 58 $1.50 $1.55a) 7,986.05b) 7,955.75c) 8,402.20d) 7,960.65
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C Cengage NOWv2 | Onlin Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: July 1 Inventory 44 units @ $15 9 Sale 30 units 13 Purchase 25 Sale 30 units @ $17 23 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on July 25 and (b) the inventory c July 31. a. Cost of merchandise sold on July 25 b. Inventory on July 31 402 X 348 X Incorrect Feedback Check My Work
Question #1 Unit cost/ Units Sales price Opening Inventory 2,000 3.70 Purchase #1 8,000 4.10 Sale #1 6,000 12.00 Purchase #2 5,000 4.30 Sale #2 3,000 12.00 Compute the following: a) Ending inventory (Perpetual) using FIFO. b) COGS (Perpetual) using moving weighted average. c) Ending inventory (Periodic) using weighted average.
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Choice the following multiple choice answer