Purchases during 04: Purchase, 10/22, 650 units @ $55 Purchase, 11/5; 700 units @558 Purchase, 11/2; 1,100 units @ $62 Purchase, 12/5; 430 units@ $60 Purchase, 12/30; 750 units @ $65 The company made a sale of 900 units on 11/15 and a sale of 700 units on 12/18. 1. Determine cost of goods sold if the company uses a LIFO perpetual cost flow assumption. 2. Determine cost of goods sold if the company uses a LIFO periodic cost flow assumption: 3. Determine cost of goods sold if the company uses a weighted-average periodic sot flow assumption (do not round avera

Purchases during 04: Purchase, 10/22, 650 units @ $55 Purchase, 11/5; 700 units @558 Purchase, 11/2; 1,100 units @ $62 Purchase, 12/5; 430 units@ $60 Purchase, 12/30; 750 units @ $65 The company made a sale of 900 units on 11/15 and a sale of 700 units on 12/18. 1. Determine cost of goods sold if the company uses a LIFO perpetual cost flow assumption. 2. Determine cost of goods sold if the company uses a LIFO periodic cost flow assumption: 3. Determine cost of goods sold if the company uses a weighted-average periodic sot flow assumption (do not round avera

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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Question

220 units at $50 each

please answer only first three suparts thanx

Purchases during Q4:
Purchase, 10/22; 650 units @ $55
Purchase, 11/5; 700 units @$58
Purchase, 11/2; 1,100 units @ $62
Purchase, 12/5; 430 units @ $60
Purchase, 12/30; 750 units @ $65
The company made a sale of 900 units
1. Determine cost of goods sold if the a
2. Determine cost of goods sold if the
3. Determine cost of goods sold if the
4. Determine cost of goods sold if the

Purchases during 04:
Purchase, 10/22, 650 units @ $55
Purchase, 11/5; 700 units @$58
Purchase, 11/2: 1,100 units @ $62
Purchase, 12/5; 430 units @ $60
Purchase, 12/30; 750 units @ $65
The company made a sale of 900 units on 11/15 and a sale of 700 units on 12/18.
1. Determine cost of goods sold if the company uses a LIFO perpetual cost flow assumption.
2. Determine cost of goods sold if the company uses a LIFO periodic cost flow assumption:
3. Determine cost of goods sold if the company uses a weighted-average periodic sot flow assumption (do not round avera
4. Determine cost of goods sold if the company uses a FIFO perpetual cost flow assumption.

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