P3-7 IT Equipment Company, ruhning a wholesale business of personal computèrs. Thefollowing transactions öccurred during the year 2016.Date1-Jän12-Feb25-Feb10-Mar20-Apr.12-Aug15-Nov.Uhit CostTransactionsBeginnirig inventory:PurchasesSälësUnits402,1002,5002,6002,1503,0002,200101210SalesPurchasesSales25PurchasesEnding inventory at the end of year.is calculäted as 36 units of.personal computers:Required: Compute the ending inventory and costof goods sold undereach of the following.methods assuming IT Equipment.:Company, uses thể perpetual inventory,system:a. :FIFOLIFOMoving averageb.c.CS Scanned with CamScanner

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Description: P3-7 IT Equipment Company, ruhning a wholesale business of personal computèrs. Thefollowing transactions öccurred during the year 2016.Date1-Jän12-Feb25-Feb10-Mar20-Apr.12-Aug15-Nov.Uhit CostTransactionsBeginnirig inventory:PurchasesSälësUnits402,10

The perpetual inventory system refers to the system of recording the inventory where each change in…

Business

Accounting

IT Equipment Company running a wholesale business of personal computers. The following transactions öccurred during the year 2016. Date 1-Jän . 12-Feb 25-Feb 10-Mar 20-Apr. 12-Aug 15-Nov. Transactions Beginning inventory: Purchases Units Unit Cost P2,000 2,100 2,500 2,600 :2,150 3,000 2,200 40 . 10 Sälës Sales Purchases Sales Purchases 25 Ending inventory ät the end of year.is calculâted as 36 units of personal computers: Required: Compute the ending inventory and cost of göods sold'under each of the following. methods assuming IT Equipment:Company uses thể perpetual inventory, system.. : .. a. FIFO LIFO Moving average b. C.

IT Equipment Company running a wholesale business of personal computers. The following transactions öccurred during the year 2016. Date 1-Jän . 12-Feb 25-Feb 10-Mar 20-Apr. 12-Aug 15-Nov. Transactions Beginning inventory: Purchases Units Unit Cost P2,000 2,100 2,500 2,600 :2,150 3,000 2,200 40 . 10 Sälës Sales Purchases Sales Purchases 25 Ending inventory ät the end of year.is calculâted as 36 units of personal computers: Required: Compute the ending inventory and cost of göods sold'under each of the following. methods assuming IT Equipment:Company uses thể perpetual inventory, system.. : .. a. FIFO LIFO Moving average b. C.

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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