Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 40 units at $130 Mar. 10 Purchase 60 units at $142 Aug. 30 Purchase 30 units at $150 Dec. 12 Purchase 70 units at $154 There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. In your calculations round average unit cost to the nearest cent, and r other calculations and your final answers to the nearest dollar. Cost of Ending Inventory and Cost of Goods Sold Inventory Method First-in, first-out (FIFO) Last-in, first-out (LIFO) Weighted average cost Ending Inventory Cost of Goods Sold

Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 40 units at $130 Mar. 10 Purchase 60 units at $142 Aug. 30 Purchase 30 units at $150 Dec. 12 Purchase 70 units at $154 There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. In your calculations round average unit cost to the nearest cent, and r other calculations and your final answers to the nearest dollar. Cost of Ending Inventory and Cost of Goods Sold Inventory Method First-in, first-out (FIFO) Last-in, first-out (LIFO) Weighted average cost Ending Inventory Cost of Goods Sold

Name: A b and c please Periodic inventory by three methods; cost of goods so
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Description: A b and c please Periodic inventory by three methods; cost of goods soldThe units of an item available for sale during the year were as follows:Jan. 1Inventory40 units at $130Mar. 10Purchase60 units at $142Aug. 30Purchase30 units at $150Dec. 12Purcha

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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