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 Purchase Purchase Totals a. Average cost b. FIFO C. LIFO 14 units@ $3.00 14 units @ $3.50 27 units@ $3.80 41 units @ $4.00 17 units@ $5.00 113 units A physical count indicates 24 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.) Ending Inventory $42.00 49.00 102.60 164.00 85.00 $ 442.60

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 Purchase Purchase Totals a. Average cost b. FIFO C. LIFO 14 units@ $3.00 14 units @ $3.50 27 units@ $3.80 41 units @ $4.00 17 units@ $5.00 113 units A physical count indicates 24 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.) Ending Inventory $42.00 49.00 102.60 164.00 85.00 $ 442.60

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Description: Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1and 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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