Inventory, Inventory Count, del 1st 2nd Зrd December 31 January 1 4 at $ 39 4 at $ 42 4 at $ 45 8 at $91 4 at 82 3 at 88 6 at 95 3 at 69 3 at 59 15 at 62 9 at 64 5. 3 7 at 221 6 at 229 5 at 239 10 at 238 9. 12 at 52 10 at 54 16 at 61 16 at 62 13 2 at 106 2 at 108 3 at 126 3 at 128 5. 70 5 at 150 4 at 160 4 at 165 7 at 170 8 equired: Determine the cost of the inventory on December 31 by the first-in, first-out method.

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Chapter1: Financial Statements And Business Decisions
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Having trouble with the Cost of Inventory-Weighted Average Method. Can you walk me through the steps. Thank you!
Dymac Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1
Purchases Invoices
Inventory Count,
Inventory,
Model
1st
2nd
Зrd
December 31
January 1
A10
4 at
$ 39
4 at
$ 42
4 at
$ 45
B15
8 at
$91
4 at
82
3 at
88
6 at
95
7
E60
3 at
69
3 at
59
15 at
62
9 at
64
G83
7 at
221
6 at
229
5 at
239
10 at
238
9
134
12 at
52
10 at
54
16 at
61
16 at
62
13
M90
2 at
106
2 at
108
3 at
126
3 at
128
Q70
5 at
150
4 at
160
4 at
165
7 at
170
8.
Required:
1. Determine the cost of the inventory on December 31 by the first-in, first-out method.
If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at
PURCHASED MOST RECENTLY first.
Dymac Appliances
Cost of the Inventory-FIFO Method
December 31
Model
Quantity
Unit Cost
Total Cost
A10
4.
%$4
45
180
A10
1
42
42
B15
6.
95
570
Transcribed Image Text:Dymac Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1 Purchases Invoices Inventory Count, Inventory, Model 1st 2nd Зrd December 31 January 1 A10 4 at $ 39 4 at $ 42 4 at $ 45 B15 8 at $91 4 at 82 3 at 88 6 at 95 7 E60 3 at 69 3 at 59 15 at 62 9 at 64 G83 7 at 221 6 at 229 5 at 239 10 at 238 9 134 12 at 52 10 at 54 16 at 61 16 at 62 13 M90 2 at 106 2 at 108 3 at 126 3 at 128 Q70 5 at 150 4 at 160 4 at 165 7 at 170 8. Required: 1. Determine the cost of the inventory on December 31 by the first-in, first-out method. If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at PURCHASED MOST RECENTLY first. Dymac Appliances Cost of the Inventory-FIFO Method December 31 Model Quantity Unit Cost Total Cost A10 4. %$4 45 180 A10 1 42 42 B15 6. 95 570
3. Determine the cost of the inventory on December 31 by the weighted average cost methc
Dymac Appliances
Cost of the Inventory-Weighted Average Method
December 31
Model
Quantity
Unit Cost
Total Cost
A10
42
210
B15
7
431
Е60
63
315
G83
9.
232
2,088
J34
13
55
M90
119
595
Q70
162
1,296
Total
Transcribed Image Text:3. Determine the cost of the inventory on December 31 by the weighted average cost methc Dymac Appliances Cost of the Inventory-Weighted Average Method December 31 Model Quantity Unit Cost Total Cost A10 42 210 B15 7 431 Е60 63 315 G83 9. 232 2,088 J34 13 55 M90 119 595 Q70 162 1,296 Total
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