Poge /7 31. Rono Compony uses the perpetud inventory system Theinventay transactions for August the curre year were sfdlows: Aug. i Beginning 7 Purchase 10 Purchose 12 Sale 16 Purchose 20 Sade Urits X0.000 10,000 20,000 15,000 X0,000 40,000 3000 Unit Cost Totd Cost 4.00 80.000 42000 86.000 4,20 4.30 4.60 92.000 8 Sdes returs The soles returs reates tothe August 2Dsde. f the AFOcost flow methodis Used, the sdes retuns shal be costed backintoinvetay at what uit cosi ? 0. 4.00 D. 4,20 C. 430 d. 460
Poge /7 31. Rono Compony uses the perpetud inventory system Theinventay transactions for August the curre year were sfdlows: Aug. i Beginning 7 Purchase 10 Purchose 12 Sale 16 Purchose 20 Sade Urits X0.000 10,000 20,000 15,000 X0,000 40,000 3000 Unit Cost Totd Cost 4.00 80.000 42000 86.000 4,20 4.30 4.60 92.000 8 Sdes returs The soles returs reates tothe August 2Dsde. f the AFOcost flow methodis Used, the sdes retuns shal be costed backintoinvetay at what uit cosi ? 0. 4.00 D. 4,20 C. 430 d. 460
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Rona Company
Transcribed Image Text:Pone /7
31. Rono Compony uses the perpetud inventory syst em Theinveri ary transacticrs
for August f the cure year were dlows:
Units
X1,000
10.000
X0,000
15.000
X0.000
40,000
3.000
AUg.
1 Beginning
7 Purchase
10 Purchose
12 Sale
16 Purchose
20 Sale
Unit Cost
Tota Cost
80.000
42000
86.000
4,00
4,20
4.30
4,60
92.000
8 Sdles retuns
The soles relurs relotes1othe August 20sde. if ihe FIFO cost fiow method is
Used, the sdes returrs shdi be cosied backintoinveniay at what urii cost ?
0. 4.00
D. 420
C. 4.30
d. 460
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education