Required information Problem 8-5 (Algo) Various inventory costing methods [LO8-1, 8-4] [The following information applies to the questions displayed below.] A company began January with 7,000 units of its principal product. The cost of each unit is $9. Inventory transactions for the month of January are as follows: Date of Purchase January 10 January 18 Totals Sales Units Date of Sale January 5 January 12 January 20 Total 6,000 7,000 13,000 * Includes purchase price and cost of freight. Units Purchases Unit Cost* $ 10 11 3,000 1,000 4,000 8,000 12,000 units were on hand at the end of the month. Total Cost $ 60,000 77,000 $ 137,000 Problem 8-5 (Algo) Part 5 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. Note: Round average cost per unit to 4 decimal places. Enter sales with a negative sign.

Required information Problem 8-5 (Algo) Various inventory costing methods [LO8-1, 8-4] [The following information applies to the questions displayed below.] A company began January with 7,000 units of its principal product. The cost of each unit is $9. Inventory transactions for the month of January are as follows: Date of Purchase January 10 January 18 Totals Sales Units Date of Sale January 5 January 12 January 20 Total 6,000 7,000 13,000 * Includes purchase price and cost of freight. Units Purchases Unit Cost* $ 10 11 3,000 1,000 4,000 8,000 12,000 units were on hand at the end of the month. Total Cost $ 60,000 77,000 $ 137,000 Problem 8-5 (Algo) Part 5 5. Calculate January's ending inventory and cost of goods sold for the month using Average cost, perpetual system. Note: Round average cost per unit to 4 decimal places. Enter sales with a negative sign.

Name: Required informationProblem 8-5 (Algo) Various inventory costing meth
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Description: Required informationProblem 8-5 (Algo) Various inventory costing methods [LO8-1, 8-4][The following information applies to the questions displayed below.]A company began January with 7,000 units of its principal product. The cost of each unit is $9.

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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