Periodic inventory system * Date Description Units Unit cost July 01 July 18 Beginning inventory Total cost $20 $10,000 purchased 800 $24 $19,200 July 25 Aug 8 purchased 700 $26 $18,200 purchased T$23 $21 500 $11,500 Sept. 5 Oct. 30 purchased 200 $4,200 purchased 375 $24.75 $9281.25 Nov. 8 purchased 100 $23.50 $2,350 $937.50 Dec. 20 purchased 50 $18.75 3,225. Ending inventory 75 units. Complete a periodic FIFO, LIFO, and Average Cdst 75,668 LIFO FIFO
Periodic inventory system * Date Description Units Unit cost July 01 July 18 Beginning inventory Total cost $20 $10,000 purchased 800 $24 $19,200 July 25 Aug 8 purchased 700 $26 $18,200 purchased T$23 $21 500 $11,500 Sept. 5 Oct. 30 purchased 200 $4,200 purchased 375 $24.75 $9281.25 Nov. 8 purchased 100 $23.50 $2,350 $937.50 Dec. 20 purchased 50 $18.75 3,225. Ending inventory 75 units. Complete a periodic FIFO, LIFO, and Average Cdst 75,668 LIFO FIFO
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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What is peridocznym fifo and lifo
![Periodic inventory system *
Date
Description
Units
Unit cost
July 01
July 18
Beginning inventory
Total cost
$20
$10,000
purchased
800
$24
$19,200
July 25
Aug 8
purchased
700
$26
$18,200
purchased
T$23
$21
500
$11,500
Sept. 5
Oct. 30
purchased
200
$4,200
purchased
375
$24.75
$9281.25
Nov. 8
purchased
100
$23.50
$2,350
$937.50
Dec. 20
purchased
50
$18.75
3,225.
Ending inventory 75 units. Complete a periodic FIFO, LIFO, and Average Cdst
75,668
LIFO
FIFO](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1ce7c51e-bd8f-4d68-b313-31351a83b66e%2F4582c402-0364-4b38-b0bb-5f0765ee52ab%2F1jr4hi.jpeg&w=3840&q=75)
Transcribed Image Text:Periodic inventory system *
Date
Description
Units
Unit cost
July 01
July 18
Beginning inventory
Total cost
$20
$10,000
purchased
800
$24
$19,200
July 25
Aug 8
purchased
700
$26
$18,200
purchased
T$23
$21
500
$11,500
Sept. 5
Oct. 30
purchased
200
$4,200
purchased
375
$24.75
$9281.25
Nov. 8
purchased
100
$23.50
$2,350
$937.50
Dec. 20
purchased
50
$18.75
3,225.
Ending inventory 75 units. Complete a periodic FIFO, LIFO, and Average Cdst
75,668
LIFO
FIFO
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