Inventory Costing Methods-Perpetual Method The following information is for the Vista Company; the company sells just one product: Beginning Inventory Purchases: Sales: A. First-in, First-out: Jan. 1 Feb. 11 May 18 Oct. 23 March 1 July 1 Calculate the value of ending inventory and cost of goods sold using the perpetual method and (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. B. Last-in, first-out: Ending Inventory $ Cost of goods sold $ Ending Inventory $ Cost of goods sold $ C. Weighted Average Units Unit Cost 200 $10 500 14 400 17 100 18 400 380 Ending Inventory $ Cost of goods sold $ 0 0 0 0 0 0

Inventory Costing Methods-Perpetual Method The following information is for the Vista Company; the company sells just one product: Beginning Inventory Purchases: Sales: A. First-in, First-out: Jan. 1 Feb. 11 May 18 Oct. 23 March 1 July 1 Calculate the value of ending inventory and cost of goods sold using the perpetual method and (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. B. Last-in, first-out: Ending Inventory $ Cost of goods sold $ Ending Inventory $ Cost of goods sold $ C. Weighted Average Units Unit Cost 200 $10 500 14 400 17 100 18 400 380 Ending Inventory $ Cost of goods sold $ 0 0 0 0 0 0

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Description: Inventory Costing Methods-Perpetual MethodThe following information is for the Vista Company;the company sells just one product:Beginning Inventory Jan. 1Purchases:Feb. 11May 18Oct. 23March 1July 1Sales:Calculate the value of ending inventory and co

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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