i need the answer quickly eBooklylakatherinephelanJohanna Mondragon-OlveraInventory Costing: Average CostFilimonov Inc. has the following information related to purchases and sales of one of its inventory items:DateDescriptionUnits Purchased at CostUnits Sold at RetailJune 1 Beginning Inventory150 units @ $10 = $1,5009 Purchase 1200 units @ $12 = $2,40014 Sale 122 Purchase 229 Sale 2Assume that Filimonov uses a perpetual inventory system.300 units @ $25250 units @ $14 = $3,500232 units @ $25Required:<Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Note: Round per-unit calculations to 4 decimal places and al other numbersto the nearest dollar.)Cost of goods soldCost of ending inventory

Name: i need the answer quickly eBooklylakatherinephelanJohanna Mondragon-Ol
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Description: i need the answer quickly eBooklylakatherinephelanJohanna Mondragon-OlveraInventory Costing: Average CostFilimonov Inc. has the following information related to purchases and sales of one of its inventory items:DateDescriptionUnits Purchased at CostU

Inventory Valuation For calculating the cost of goods sold and ending inventory in costing we use…

Business

Accounting

Inventory Costing: Average Cost Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Date Description Units Purchased at Cost Units Sold at Retail June 1 Beginning Inventory 150 units @ $10 = $1,500 9 Purchase 1 200 units @ $12 = $2,400 14 Sale 1 300 units @ $25 22 Purchase 2 250 units @ $14 = $3,500 29 Sale 2 232 units @ $25 Assume that Filimonov uses a perpetual inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Note: Round per-unit calculations to 4 decimal places and al other numbers to the nearest dollar.) Cost of goods sold Cost of ending inventory

Inventory Costing: Average Cost Filimonov Inc. has the following information related to purchases and sales of one of its inventory items: Date Description Units Purchased at Cost Units Sold at Retail June 1 Beginning Inventory 150 units @ $10 = $1,500 9 Purchase 1 200 units @ $12 = $2,400 14 Sale 1 300 units @ $25 22 Purchase 2 250 units @ $14 = $3,500 29 Sale 2 232 units @ $25 Assume that Filimonov uses a perpetual inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the average cost method. (Note: Round per-unit calculations to 4 decimal places and al other numbers to the nearest dollar.) Cost of goods sold Cost of 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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