Presented below is information related to Blowfish radios for the Splish Company for the month of July. Date July 1 6 7 10 12 15 18 22 25 30 Transaction Units In Balance Purchase Sale Sale Purchase Sale Purchase Sale Purchase Sale Totals (1) FIFO. (2) LIFO. (3) Average-cost. Ending inventory at July 31 $ eTextbook and Media Save for later 140 1,120 560 420 700 2,940 Unit Cost $4.50 (1) FIFO 4.60 4.90 5.00 4.98 Total $630 5,152 2,744 2,100 3,486 $14,112 Units Sold $ 420 420 280 560 280 1,960 Selling Price (2) LIFO $7.00 7.30 7.40 7.40 7.50 Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions. (Round answers to O decimal places, e.g. 6,578.) Total $ $2,940 3,066 2,072 4,144 2,100 $14,322 (3) Average-Cost
Presented below is information related to Blowfish radios for the Splish Company for the month of July. Date July 1 6 7 10 12 15 18 22 25 30 Transaction Units In Balance Purchase Sale Sale Purchase Sale Purchase Sale Purchase Sale Totals (1) FIFO. (2) LIFO. (3) Average-cost. Ending inventory at July 31 $ eTextbook and Media Save for later 140 1,120 560 420 700 2,940 Unit Cost $4.50 (1) FIFO 4.60 4.90 5.00 4.98 Total $630 5,152 2,744 2,100 3,486 $14,112 Units Sold $ 420 420 280 560 280 1,960 Selling Price (2) LIFO $7.00 7.30 7.40 7.40 7.50 Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions. (Round answers to O decimal places, e.g. 6,578.) Total $ $2,940 3,066 2,072 4,144 2,100 $14,322 (3) Average-Cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Presented below is information related to Blowfish radios for the Splish Company for the month of July.
Date
July 1
6
7
10
12
15
18
22
25
30
Transaction Units In
Balance
Purchase
Sale
Sale
Purchase
Sale
Purchase
Sale
Purchase
Sale
Totals
(1) FIFO.
(2) LIFO.
(3) Average-cost.
Ending inventory at
July 31
eTextbook and Media
140
Save for Later
1,120
560
420
700
2,940
Unit Cost
$4.50
(1)
FIFO
4.60
4.90
5.00
4.98
Total
$630
5,152
2,744
2,100
3,486
$14,112
Units Sold
$
420
420
280
560
280
1,960
Selling Price
(2)
LIFO
$7.00
7.30
7.40
7.40
7.50
Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following
cost flow assumptions. (Round answers to O decimal places, e.g. 6,578.)
Total
$
$2,940
3,066
2,072
4,144
2,100
$14,322
(3)
Average-Cost
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