ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%25... A☆mework iExercise 6-4 Alternative cost flow assumptions-perpetual inventory system LO2Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top sellinghockey stick. The hockey stick sells for $130.DescriptionMar. 1 Beginning InventoryJESTEMar. 3 PurchaseMar. 6 PurchaseMar. 17 SaleMar. 23 PurchaseMar. 31 SaleUnits1. FIFO2. Moving weighted average24691196468158Unit CostCost of GoodsSold$ 49$ 54$59$59Required:Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do notround your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.)SavedEndingInventory< Prev2 of 8Next >Help

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Description: ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%25... A☆mework iExercise 6-4 Alternative cost flow assumptions-perpetual inventory system LO2Sport Box sells a wide variety

FIFO is an acronym for first-in, first-out which states that the inventory purchased first will be…

Business

Accounting

Exercise 6-4 Alternative cost flow assumptions-perpetual inventory system LO2 Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick. The hockey stick sells for $130. Description Mar. 1 Beginning Inventory Mar. 3 Purchase Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale Units 24 69 119 64 68 158 1. FIFO 2. Moving weighted average Unit Cost $ 49 $ 54 $59, Cost of Goods Sold $59 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) W Ending Inventory

Exercise 6-4 Alternative cost flow assumptions-perpetual inventory system LO2 Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick. The hockey stick sells for $130. Description Mar. 1 Beginning Inventory Mar. 3 Purchase Mar. 6 Purchase Mar. 17 Sale Mar. 23 Purchase Mar. 31 Sale Units 24 69 119 64 68 158 1. FIFO 2. Moving weighted average Unit Cost $ 49 $ 54 $59, Cost of Goods Sold $59 Required: Calculate the cost of goods sold and ending inventory under the perpetual inventory system using the following methods. (Do not round your "Unit Cost" answers. Round all other intermediate and final answers to nearest whole dollar.) W Ending Inventory

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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How do I find the FIFO, LIFO: costs of ending inventory and cost of goods sold so I can figure out the weighted average cost?
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3 Question 4 of 11 9 Purchase 50 units $35,750 13 Purchase 200 units $156,000 24 Sale 200 units $182,000 27 Sale 50 units $52,000 30 Purchase 75 units $64,350 Calculate Saddlery Company's cost of goods sold, gross margin, and ending inventory using FIFO. Cost of goods sold $ Gross margin $ Ending Inventory $ -/1 E8 JAI
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Required information Problem 5-1A (Algo) Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Date March 1 March 5 Complete this question by entering your answers in the tabs below. Total March 5 Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. March 9 Problem 5-1A (Algo) Part 3 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 75 units from beginning inventory, 205 units from the March 5 purchase, 55 units from the March 18 purchase, and 95 units from the March 25 purchase. Total March 9 March 18 Total March 18 March 25 Activities Total March 25 Beginning…
Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: 64 units at $70 49 units 83 units at $74 47 units Nov. 1 Inventory 10 Sale 15 Purchase 20 Sale 24 Sale 30 Purchase The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. 13 units 37 units at $77 LIFO Method
EX 7-4 Perpetual inventory using LIFO OBJ. 2, 3 Assume that the business in Exercise 7-3 maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4.
Avoid solution image based thnx And answer both questions by 1 FIFO 2 LIFO