Poverty and Land...signment 11DateJanuary 1February 10March 13March 15August 21September 5September 10Social Policy and...Required:Considering colle...ActivitiesBeginning inventoryPurchasePurchaseSalesPurchasePurchaseSalesTotalsWhat is child labo...Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions.Units Acquired at Cost600 units @ $40 per unit400 units @ $37 per unit190 units @ $15 per unitSaved1,930 units190 units @$45 per unit550 units @ $43 per unitDefinition of Child...Sustainable Devel...Units Sold at Retail805 units @ $70 per unitHelp740 units @ $70 per unit1,545 unitsSave & E Poverty and Land...signment 1Social Policy and...Perpetual FIFO Perpetual LIFOJanuary 1Complete this question by entering your answers in the tabs below.DateMarch 133. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. (Forspecific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 190 from the March13 purchase, 140 from the August 21 purchase, and 315 from the September 5 purchase.)February 10Average February 10Considering colle...WeightedAverageCompute the cost assigned to ending inventory using weighted average. (Round your average cost per unit to 2 decimal places.)Average March 13March 15Goods Purchased# of unitsWhat is child labo...Specific IdCost perunitSaved# of unitssoldWeighted Average Perpetual:Cost of Goods SoldDefinition of Child...Cost perunitSustainable Devel...Cost of Goods Sold # of units600Inventory BalanceCost perunit$ 40.00 =atInventoryBalanceHelp$ 24,000.00Save & Exit

Name: Poverty and Land...signment 11DateJanuary 1February 10March 13March 1
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Description: Poverty and Land...signment 11DateJanuary 1February 10March 13March 15August 21September 5September 10Social Policy and...Required:Considering colle...ActivitiesBeginning inventoryPurchasePurchaseSalesPurchasePurchaseSalesTotalsWhat is child labo...

1. First in First Out Date purchases Cost of Goods Sold Ending inventory…

Business

Accounting

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units Acquired at Cost 600 units @ $40 per unit 400 units @ $37 per unit 190 units @ $15 per unit Date January 1 February 10 March 13 March 15 August 21 September 5 September 10 Required: Activities Beginning inventory Purchase Purchase Sales Purchase Purchase Sales Totals 190 units @ $45 per unit 550 units @ $43 per unit 1,930 units Units Sold at Retail 805 units @ $70 per unit 740 units @ $70 per unit 1,545 units

Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units Acquired at Cost 600 units @ $40 per unit 400 units @ $37 per unit 190 units @ $15 per unit Date January 1 February 10 March 13 March 15 August 21 September 5 September 10 Required: Activities Beginning inventory Purchase Purchase Sales Purchase Purchase Sales Totals 190 units @ $45 per unit 550 units @ $43 per unit 1,930 units Units Sold at Retail 805 units @ $70 per unit 740 units @ $70 per unit 1,545 units

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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Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 March 9 March 18 March 25 March 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost 100 units @ $51.00 per unit 225 units @ $56.00 per unit 85 units. @ $61.00 per unit 150 units @ $63.00 per unit. 560 units Units Sold at Retail 260 units @ $86.00 per unit 130 units @ $96.00 per unit 390 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 65 units from beginning inventory, 195 units from the March 5 purchase, 45 units from the March 18 purchase, and 85 units from the March 25 purchase.
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