Inventory Costing Methods-Perpetual Method Archer Company is a retailer that uses the perpetual inventory system August 1 Beginning inventory 80 units of Product A 5 Purchased Purchased 100 units of Product A 200 units of Product A@ 150 units of Product A 11 Sold $1,800 total cost $2.400 total cost $4,420 total cost Calculate the inventory cost of item A on August 11(after the sale) using (a) first-in first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar. A Firstin, first-out Ending Inventory 5.620
Inventory Costing Methods-Perpetual Method Archer Company is a retailer that uses the perpetual inventory system August 1 Beginning inventory 80 units of Product A 5 Purchased Purchased 100 units of Product A 200 units of Product A@ 150 units of Product A 11 Sold $1,800 total cost $2.400 total cost $4,420 total cost Calculate the inventory cost of item A on August 11(after the sale) using (a) first-in first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar. A Firstin, first-out Ending Inventory 5.620
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Inventory Costing Methods-Perpetual Method
Archer Company is a retailer that uses the perpetual inventory system.
August 1 Beginning inventory 80 units of Product A
5 Purchased
8Purchased
100 units of Product A
200 units of Product A@
11 Sold
150 units of Product A
Calculate the inventory cost of item A on August 11(after the sale) using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods.
Do not round until your final answers. Round your final answers to the nearest dollar.
A First-in, first-out
FI
Ending Inventory S 5.620 x
Last-in, first out
Ending Inventory S
C Weighted average
Ending Inventory
Check
0x
$1,800 total cost
$2,400 total cost
$4,420 total cost
Ox
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