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 Beginning inventory Purchase Purchase a. b. C. Purchase Purchase Totals A physical count indicates 200 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 intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar.) Average cost FIFO LIFO 90 units @ $3.00 $ 270.00 120 units @ $3.50 420.00 300 units @ $3.80 400 units @ $4.00 190 units @ $5.00 1,140.00 1,600.00 950.00 $4,380.00 Ending Inventory 1,100 units

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 Beginning inventory Purchase Purchase a. b. C. Purchase Purchase Totals A physical count indicates 200 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 intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar.) Average cost FIFO LIFO 90 units @ $3.00 $ 270.00 120 units @ $3.50 420.00 300 units @ $3.80 400 units @ $4.00 190 units @ $5.00 1,140.00 1,600.00 950.00 $4,380.00 Ending Inventory 1,100 units

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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. 23Apr. 20May 4Nov. 30Beginning inv

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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