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QUESTION 7 Use the following information to answer the next 5 questions.  Purchases   Sales May # Cost   May # Sales Price 4 1,300 @ $4.10   3 200 @ $7.00 8 800 @ $4.30   6 1,000 @ $7.00 14 700 @ $4.40   12 900 @ $7.50 22 1,200 @ $4.50   18 400 @ $7.50 29 500 @ $4.55   25 1,400 @ $8.00   Determine Huston’s Goods AVAILABLE for sale in dollars. Huston has a beginning balance in inventory of 400 units at @ $4.20 per unit.  A record of transactions for the month of May was as follows:   QUESTION 8 Determine Huston’s ending inventory in dollars using Periodic Average. Round to the nearest dollar.   QUESTION 9 Determine Huston’s ending inventory in dollars using Periodic LIFO.    QUESTION 10 Determine Huston’s ending inventory in dollars using Perpetual FIFO.     QUESTION 11 Determine Huston’s ending inventory in dollars using Perpetual LIFO.

QUESTION 7 Use the following information to answer the next 5 questions.  Purchases   Sales May # Cost   May # Sales Price 4 1,300 @ $4.10   3 200 @ $7.00 8 800 @ $4.30   6 1,000 @ $7.00 14 700 @ $4.40   12 900 @ $7.50 22 1,200 @ $4.50   18 400 @ $7.50 29 500 @ $4.55   25 1,400 @ $8.00   Determine Huston’s Goods AVAILABLE for sale in dollars. Huston has a beginning balance in inventory of 400 units at @ $4.20 per unit.  A record of transactions for the month of May was as follows:   QUESTION 8 Determine Huston’s ending inventory in dollars using Periodic Average. Round to the nearest dollar.   QUESTION 9 Determine Huston’s ending inventory in dollars using Periodic LIFO.    QUESTION 10 Determine Huston’s ending inventory in dollars using Perpetual FIFO.     QUESTION 11 Determine Huston’s ending inventory in dollars using Perpetual LIFO.

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QUESTION 7

  1. Use the following information to answer the next 5 questions. 

    Purchases

     

    Sales

    May

    #

    Cost

     

    May

    #

    Sales Price

    4

    1,300

    @ $4.10

     

    3

    200

    @ $7.00

    8

    800

    @ $4.30

     

    6

    1,000

    @ $7.00

    14

    700

    @ $4.40

     

    12

    900

    @ $7.50

    22

    1,200

    @ $4.50

     

    18

    400

    @ $7.50

    29

    500

    @ $4.55

     

    25

    1,400

    @ $8.00
     
  2. Determine Huston’s Goods AVAILABLE for sale in dollars.
  3. Huston has a beginning balance in inventory of 400 units at @ $4.20 per unit.  A record of transactions for the month of May was as follows:

 

QUESTION 8

  1. Determine Huston’s ending inventory in dollars using Periodic Average. Round to the nearest dollar.

 

QUESTION 9

  1. Determine Huston’s ending inventory in dollars using Periodic LIFO.

  

QUESTION 10

  1. Determine Huston’s ending inventory in dollars using Perpetual FIFO.

   

QUESTION 11

  1. Determine Huston’s ending inventory in dollars using Perpetual LIFO.
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