I will send two exercises because you will need the EX 6-5 to complete the second exercise, I need only the EX 6-6 , please and thank you! EX 6-3 Perpetual inventory using FIFOV Inventory balance,November 30, $7,480Total Cost of goodssold, $315,000Beginning inventory, purchases, and sales data for DVD players are as follov120 units at S39InventorySalePurchaseNov.190 units10140 units at $4015110 unitsSHOW ME HOW20Sale45 units24Sale160 units at $4330PurchaseThe business maintains a perpetual inventory system, costing by the first-in, first-out method4. Determine the cost of goods sold for each sale and the inventory balance after enapresenting the data in the form illustrated in Exhibit 3.D. Based upon the preceding data, would you expect the inventory to be higher or lowerthe last-in, first-out method?usingV Inventory balance,November 30, $7,465Obj. 2, 3EX 6-4 Perpetual inventory using LIFOAssume that the business in Exercise 6-3 maintains a perpetual inventory system, costinethe last-in, first-out method. Determine the cost of goods sold for each sale and the inventorbalance after each sale, presenting the data in the form illustrated in Exhibit 4.V Total Cost of goodssold, $314,000(X)SHOW ME HOWEXCEL TEMPLATEEX 6-5 Perpetual inventory using LIFObeginning inventory, purchases, and sales data for prepaid cell phones for December are as folloObj. 2, 3V Inventory balance,December 31, $8,064V Total Cost of goodssold, $318,000InventoryPurchasesSales144 units at $90240 units at $96Dec. 1310 units at $88Dec. 10Dec. 12240 unitsSHOW ME HOW2014166 unitsEXCEL TEMPLATE31200 unitsV b. $7,500a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determinethe cost of goods sold for each sale and the inventory balance after each sale, presenting thedata in the form illustrated in Exhibit 4.b. Based upon the preceding data, would you expect the inventory to be higher or lower usinothe first-in, first-out method?SHOW ME HCV Inventory balance,December 31, $8,448EX 6-6 Perpetual inventory using FIFOAssume that the business in Exercise 6-5 maintains a perpetual inventory system, costing by thefirst-in, first-out method. Determine the cost of goods sold for each sale and the inventory balanceafter each sale, presenting the data in the form illustrated in Exhibit 3Obj. 2, 3(X)SHOW ME HOWEXCEL TEMPLATEEX 6-7 FIFO and LIFO costs under perpetual inventory systemThe following units of an item were available for sale durg e vear:V a. InveniV b. $1,258,000Obj. 2, 3$24Beginning inventorySale5,300 5300SHOW ME HOWFirst purchase15,000 uns E $185SHOWSale13,000 units at $30016,000 units at $19214,000 units at $300Second purchaseSaleThe firm uses the perpetual inventory system, and there are 6,800 units of the item on hand at theend of the year. What is the total cost of the ending inventory according to (a) FIFO and (b) LIFO?

LIFO means last in first out where as FIFO means first in first out. Inventory and cost of goods…

Answered: I will send two exercises because you…

I will send two exercises because you will need the EX 6-5 to complete the second exercise, I need only the EX 6-6 , please and thank you!

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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