Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filterson January 1 and the purchases of this item during the current year to be as follows.Jan. 1Feb. 23.Apr. 20May 4Nov. 30Beginning inventoryPurchasePurchasePurchasePurchaseTotalsa. Average costb. FIFOc. LIFO15 units @ $3.00 $ 45.0014 units @ $3.5026 units @ $3.8041 units @ $4.0019 units @ $5.00115 unitsEndingInventory49.0098.80A physical count indicates 23 units in inventory at year-end.Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Rememberto use periodic inventory costing procedures.) (Round your intermediate and final answers to 2 decimal places.)164.0095.00$451.80

Name: Rogers Products uses a periodic inventory system. The company's recor
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Description: Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filterson January 1 and the purchases of this item during the current year to be as follows.Jan. 1Feb. 23.Apr. 20May 4Nov. 30Beginning in

Inventory can be valued using the following method: Average Cost Method FIFO Method LIFO Method…

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Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows. Jan. 1 Feb. 23 Apr. 20 May 4 Nov. 30 Average cost Beginning inventory Purchase Purchase Purchase Purchase Totals A physical count indicates 23 units in inventory at year-end. Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Remember to use periodic inventory costing procedures.) (Round your intermediate and final answers to 2 decimal places.) b. FIFO C. LIFO 15 units @ $3.00 $ 45.00 14 units@ $3.50 49.00 26 units@ $3.80 98.80 164.00 41 units @ $4.00 19 units @ $5.00 95.00 115 units $451.80 Ending Inventory

Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows. Jan. 1 Feb. 23 Apr. 20 May 4 Nov. 30 Average cost Beginning inventory Purchase Purchase Purchase Purchase Totals A physical count indicates 23 units in inventory at year-end. Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Remember to use periodic inventory costing procedures.) (Round your intermediate and final answers to 2 decimal places.) b. FIFO C. LIFO 15 units @ $3.00 $ 45.00 14 units@ $3.50 49.00 26 units@ $3.80 98.80 164.00 41 units @ $4.00 19 units @ $5.00 95.00 115 units $451.80 Ending Inventory

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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