If Comcast is upgrading its cable boxes and has 650 obsolete boxes in ending inventory.Bох costBeginning inventory and purchasesBeginning inventory: January 1ВоxesTotal cost$17,0008,0004,0002,250$30510,000248,000140,00085,500March 131June 135September 138December 1000,ו4747,00032,250$1,030,500What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method? (Round your intermediate calculations to 2decimal places and final answers to the nearest dollar amount.)Ending inventoryFIFOLIFOWeighted-average

Name: If Comcast is upgrading its cable boxes and has 650 obsolete boxes in
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Description: If Comcast is upgrading its cable boxes and has 650 obsolete boxes in ending inventory.Bох costBeginning inventory and purchasesBeginning inventory: January 1ВоxesTotal cost$17,0008,0004,0002,250$30510,000248,000140,00085,500March 131June 135Septemb

Solution: Under FIFO method, inventory purchased first should be considered as sold first keeping…

Business

Accounting

If Comcast is upgrading its cable boxes and has 650 obsolete boxes in ending inventory. ITI Box cost Total cost Beginning inventory and purchases Beginning inventory: January 1 Вохes $ 510,000 17,000 8,000 4,000 2,250 $30 March 1 31 248,000 140,000 85,500 47,000 June 1 35 September 1 38 December 1 1,000 47 32,250 $1,030,500 What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method? (Round your intermediate calculations 1 decimal places and final answers to the nearest dollar amount.) Ending inventory FIFO LIFO Weighted-average

If Comcast is upgrading its cable boxes and has 650 obsolete boxes in ending inventory. ITI Box cost Total cost Beginning inventory and purchases Beginning inventory: January 1 Вохes $ 510,000 17,000 8,000 4,000 2,250 $30 March 1 31 248,000 140,000 85,500 47,000 June 1 35 September 1 38 December 1 1,000 47 32,250 $1,030,500 What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method? (Round your intermediate calculations 1 decimal places and final answers to the nearest dollar amount.) Ending inventory FIFO LIFO Weighted-average

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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