If the company uses the LIFO perpetual Inventory system, what would be the cost of the ending Inventory? Goods purchased Cost of Goods Sold Inventory Balance Date Number of Cost per units unit Number of units sold unit Cost per Cost of Goods Number of Sold Cost per units unit Inventory Balance January 1 360 at $ 9.00 = $ 3,240.00 350 at $10.00 at $ 9.00 = January 5 at $ 10.00 = Total January 5 January 9 Total January 9 380 at $ 11.00 January 14 Total January 14 January 20 Total January 20 January 30 Total January 30 410 at $ 12.00 480 130 at $ 9.00 = $ 1,170.00 130 $ 1,170.00 . at $ 9.00 - at $11.00 = 330 at $ 9.00 = to at $ 11.00 = at at 6616 $ 9.00- $ 11.00 = at $ 12.00 =
If the company uses the LIFO perpetual Inventory system, what would be the cost of the ending Inventory? Goods purchased Cost of Goods Sold Inventory Balance Date Number of Cost per units unit Number of units sold unit Cost per Cost of Goods Number of Sold Cost per units unit Inventory Balance January 1 360 at $ 9.00 = $ 3,240.00 350 at $10.00 at $ 9.00 = January 5 at $ 10.00 = Total January 5 January 9 Total January 9 380 at $ 11.00 January 14 Total January 14 January 20 Total January 20 January 30 Total January 30 410 at $ 12.00 480 130 at $ 9.00 = $ 1,170.00 130 $ 1,170.00 . at $ 9.00 - at $11.00 = 330 at $ 9.00 = to at $ 11.00 = at at 6616 $ 9.00- $ 11.00 = at $ 12.00 =
Chapter10: Inventory
Section: Chapter Questions
Problem 9PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...
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can somone please let me know what I am missing?
| Date | Activities | Units Acquired at Cost | Units Sold at Retail |
|---|---|---|---|
| January 1 | Beginning inventory | 360 units @ $9 = $3,240 | |
| January 5 | Purchase | 350 units @ $10 = $3,500 | |
| January 9 | Sale | 480 units @ $35 | |
| January 14 | Purchase | 380 units @ $11 = $4,180 | |
| January 20 | Sale | 330 units @ $35 | |
| January 30 | Purchase | 410 units @ $12 = $4,920 |
Transcribed Image Text:If the company uses the LIFO perpetual Inventory system, what would be the cost of the ending Inventory?
Goods purchased
Cost of Goods Sold
Inventory Balance
Date
Number of Cost per
units
unit
Number
of units
sold
unit
Cost per Cost of Goods Number of
Sold
Cost per
units
unit
Inventory
Balance
January 1
360 at
$ 9.00 = $ 3,240.00
350 at $10.00
at
$ 9.00 =
January 5
at
$ 10.00 =
Total January 5
January 9
Total January 9
380 at $ 11.00
January 14
Total January 14
January 20
Total January 20
January 30
Total January 30
410 at $ 12.00
480
130 at
$ 9.00 = $ 1,170.00
130
$ 1,170.00
.
at $ 9.00 -
at $11.00 =
330
at
$ 9.00 =
to
at
$ 11.00 =
at
at
6616
$ 9.00-
$ 11.00 =
at $ 12.00 =
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