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 30 units at $94 Mar. 10 70 units at $106 Aug. 30 30 units at $112 Dec. 12 70 units at $114 Inventory Purchase Purchase Purchase 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 round all 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 30 units at $94 Mar. 10 70 units at $106 Aug. 30 30 units at $112 Dec. 12 70 units at $114 Inventory Purchase Purchase Purchase 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 round all 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: Hhaa Periodic inventory by three methods; cost of goods soldThe units
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Description: Hhaa Periodic inventory by three methods; cost of goods soldThe units of an item available for sale during the year were as follows:Jan. 1InventoryPurchasePurchasePurchaseThere are 80 units of the item in the physical inventory at December 31. The pe

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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