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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 =

Financial And Managerial Accounting
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 6E: Perpetual inventory using FIFO Assume that the business in Exercise 6-5 maintains a perpetual...
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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  
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 =
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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