estions 1 bartleby CengageNOWv21Onlin X +v > https://v2.cengagenow.com/ilm/takeAssignment/takeAssignment Main.do?invoker-assignments&takeAssignmentSessionLocator-assignment-take&inprogres * 2. Chapter 7 Homework eBook Calculator Print Item Alternative Inventory Methods 1. PR.07.02 Habicht Company was formed in 2018 to produce a single product. The production and sales for the next 4 years were as follows: 2. PR.07.01.ALGO Production Sales 3. EX.07.15 Total Units in Ending Sales Units Units Costs Revenue Inventory 4. EX.07.13.ALGO 2018 $200,000 100,000 $400,000 80,000 20,000 2019 120,000 234,000 110,000 5. EX.07.11 550,000 30,000 2020 247,000 150,000 130,000 10,000 750,000 6. PR.07.07 2021 130,000 240,500 120,000 20,000 600,000 Required: 1. Determine the gross profit for each year under each of the following periodic inventory methods: 2018 2019 2020 2021 a. FIFO (Round unit costs to 2 decimal places, if required.) b. LIFO (Round unit costs to 2 decimal places, if required.) c. Weighted Average (Round unit costs to 3 decimal places and your final answers to the Previous Next Check My Work 8 more Check My Work uses remaining. Progress: 3/6 items 2:58 PM B A 4)) O Type here to search 29 10/27/2019 hp 64

estions 1 bartleby CengageNOWv21Onlin X +v > https://v2.cengagenow.com/ilm/takeAssignment/takeAssignment Main.do?invoker-assignments&takeAssignmentSessionLocator-assignment-take&inprogres * 2. Chapter 7 Homework eBook Calculator Print Item Alternative Inventory Methods 1. PR.07.02 Habicht Company was formed in 2018 to produce a single product. The production and sales for the next 4 years were as follows: 2. PR.07.01.ALGO Production Sales 3. EX.07.15 Total Units in Ending Sales Units Units Costs Revenue Inventory 4. EX.07.13.ALGO 2018 $200,000 100,000 $400,000 80,000 20,000 2019 120,000 234,000 110,000 5. EX.07.11 550,000 30,000 2020 247,000 150,000 130,000 10,000 750,000 6. PR.07.07 2021 130,000 240,500 120,000 20,000 600,000 Required: 1. Determine the gross profit for each year under each of the following periodic inventory methods: 2018 2019 2020 2021 a. FIFO (Round unit costs to 2 decimal places, if required.) b. LIFO (Round unit costs to 2 decimal places, if required.) c. Weighted Average (Round unit costs to 3 decimal places and your final answers to the Previous Next Check My Work 8 more Check My Work uses remaining. Progress: 3/6 items 2:58 PM B A 4)) O Type here to search 29 10/27/2019 hp 64

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Habicht company was formed in 2018 to produce a single product. The production and sales for the next 4 years were as follows:

estions 1 bartleby
CengageNOWv21Onlin X
+v
>
https://v2.cengagenow.com/ilm/takeAssignment/takeAssignment Main.do?invoker-assignments&takeAssignmentSessionLocator-assignment-take&inprogres
* 2.
Chapter 7 Homework
eBook
Calculator
Print Item
Alternative Inventory Methods
1. PR.07.02
Habicht Company was formed in 2018 to produce a single product. The production and sales for the next 4 years were as follows:
2. PR.07.01.ALGO
Production
Sales
3. EX.07.15
Total
Units in Ending
Sales
Units
Units
Costs
Revenue
Inventory
4. EX.07.13.ALGO
2018
$200,000
100,000
$400,000
80,000
20,000
2019
120,000
234,000 110,000
5. EX.07.11
550,000
30,000
2020
247,000 150,000
130,000
10,000
750,000
6. PR.07.07
2021
130,000
240,500 120,000
20,000
600,000
Required:
1. Determine the gross profit for each year under each of the following periodic inventory methods:
2018
2019
2020
2021
a. FIFO (Round unit costs to 2
decimal places, if required.)
b. LIFO (Round unit costs to 2
decimal places, if required.)
c. Weighted Average (Round unit
costs to 3 decimal places and
your final answers to the
Previous
Next
Check My Work
8 more Check My Work uses remaining.
Progress: 3/6 items
2:58 PM
B
A 4))
O Type here to search
29
10/27/2019
hp
64

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