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 Beginning Inventory 13 units @ $3.00 $39.00 Feb 23 Purchase 15 units @ $3.50 $52.50 Apr. 20 Purchase 30 units @ $3.80 $114.00 May 4 Purchase 44 units @ $4.00 $176.00 Nov. 30 Purchase 18 units @ $5.00 $90.00 Totals 120 units $471.50 A physical count indicates 22 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.) a. Average cost. b. FIFO. C. LIFO. Ending inventory Average cost = FIFO = LIFO =

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 Beginning Inventory 13 units @ $3.00 $39.00 Feb 23 Purchase 15 units @ $3.50 $52.50 Apr. 20 Purchase 30 units @ $3.80 $114.00 May 4 Purchase 44 units @ $4.00 $176.00 Nov. 30 Purchase 18 units @ $5.00 $90.00 Totals 120 units $471.50 A physical count indicates 22 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.) a. Average cost. b. FIFO. C. LIFO. Ending inventory Average cost = FIFO = LIFO =

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Description: Please do not give solution in image format thanku 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 fol

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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LutoSave 日 Off UnitlILabAssignment_Question1 O Search (Alt-Q) Protected View Home Insert Draw Page Layout Formulas Data Review View Help PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fx Formula: Multiply, Subtract; Cell Referencing A D E F G H. K Formula: Multiply, Subtract; Cell Referencing Using Excel to Record Stock Entries Student Work Area PROBLEM Required: Provide input into cells shaded in yellow in this template. Select account names from the drop-down lists. Use cell references to the data area. Use mathematical formulas to calculate any amounts not given. On May 10, Jack Corporation issues common stock for cash. Shares of stock issued Par value per share 2,000 24 %24 10.00 Amount at which stock issued 18.00 Journalize the issuance of the stock. 10 11 Date Debit Credit 12 May 10 13 14 15 16 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 33 Enter Answer Ready 24
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