Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 200 units at $40 Oct. 7 Sale 180 units Purchase 180 units at $45 150 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) inventory on October 31. Oct. 15 Oct. 24 Sale a. Cost of goods sold on October 24 b. Inventory on October 31

Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 200 units at $40 Oct. 7 Sale 180 units Purchase 180 units at $45 150 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) inventory on October 31. Oct. 15 Oct. 24 Sale a. Cost of goods sold on October 24 b. Inventory on October 31

Name: Perpetual inventory using FIFOBeginning inventory, purchases, and sal
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Perpetual inventory using FIFOBeginning inventory, purchases, and sales for Item Zeta9 are as follows:Oct. 1 Inventory200 units at $40Oct. 7 Sale180 unitsOct. 15180 units at $45Oct. 24 Sale150 unitsAssuming a perpetual inventory system and using the

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory Oct. 7 Sale 72 units @ $19 51 units Oct. 15 Purchase 61 units @ $22 29 units Oct. 24 Sale Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods sold on October 24 b. Inventory on October 31
Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 300 units at $14 13 Sale 160 units 22 Purchase 360 units at $15 29 Sale 300 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places.$fill in the blank 1per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places.$fill in the blank 2 c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places.$fill in the blank 3
Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 300 units at $14 13 Sale 160 units 22 Purchase 360 units at $17 29 Sale 300 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. $fill in the blank 1 16.72 per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. $fill in the blank 2 5,016 c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places. $fill in the blank 3 3,674.40
need answer
Beginning inventory, purchases, and sales for Item XJ-56 are as follows: May 1 Beginning inventory 90 units @ $36 each May 6 Sold 75 units @ $50 each May 15 Purchased 125 units @ $38 each May 24 Sold 80 units @ $51 each What is the cost of goods sold for May using a LIFO inventory costing method in a perpetual inventory system? Please show all calculations in order to receive credit.
Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 24 units @ $10 5 Sale 17 units 17 Purchase 10 units @ $15 30 Sale 8 units Assuming a perpetual inventory system and the last-in, first-out method: a. Determine the cost of the goods sold for the September 30 sale.$fill in the blank 1
perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: Oct. 1 Inventory 92 units @ $33 8 Sale 74 units 15 Purchase 102 units @ $36 27 Sale 86 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Oct. 27 and (b) the inventory on Oct. 31. a. Cost of goods sold on Oct. 27 $ b. Inventory on Oct. 31 $
Please help me with correct answer thanku
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: August 1 Inventory 78 units @ $20 9 Sale 64 units 13 Purchase 86 units @ $24 25 Sale 20 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on August 25 and (b) the inventory on August 31. a. Cost of merchandise sold on August 25 $fill in the blank 1 b. Inventory on August 31 $fill in the blank 2
Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for J101 are as follows: Oct. 1 Inventory 480 units at $14 13 Sale 280 units 22 Purchase 600 units at $16 29 Sale 450 units a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places. per unit b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of the merchandise sold on October 29. Round your "average unit cost" to two decimal places. c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places.
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: May 1 Inventory 72 units @ $17 9 Sale 58 units 13 Purchase 76 units @ $19 28 Sale 22 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on May 28 and (b) the inventory on May 31. a. Cost of merchandise sold on May 28 b. Inventory on May 31
Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 27 units @ $24 5 Sale 16 units 17 Purchase 29 units @ $26 30 Sale 29 units Assuming a perpetual inventory system and the first-in, first-out method: a. Determine the cost of the goods sold for the September 30 sale.$fill in the blank 1 b. Determine the inventory on September 30.$fill in the blank 2