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Sales return 600 16 Sales 3,800 22 1,900 Purchase 38.60 29 Purchase return 300 38.60 30

Sales return 600 16 Sales 3,800 22 1,900 Purchase 38.60 29 Purchase return 300 38.60 30

FINANCIAL ACCOUNTING
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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(EI) are reported under each of the following cost formulas? 11. What amounts of ending inventory (EI) and cost of goods soid Sales return 600 16 Sales 3,800 22 Purchase 1,900 29 38.60 Purchase return 300 30 38.60 11. What amounts of ending inventory (EI) and cost of goode (EI) are reported under each of the following cost formulao FIFO periodic FIFO perpetual EI COGS EI COGS 152,960 151,500 152,960 131,500 276,260 274,800 151,500 274,800 а. b. 152,960 276,260 152,960 274,800 274,800 С. d. 131,500 296,260 296,260 12. What amounts of ending inventory (EI) and cost of goods sold (EI) are reported under each of the following cost formulas? Weighted average - Perpetual COGS Weighted average – Periodic EI COGS EI 150,080 150,080 а. 277,680 275,490 152,270 159,377 b. 268,383 277,680 277,680 275,400 с. 150,080 270,880 156,880 d. 152,360 266,480 161,280
Transcribed Image Text:(EI) are reported under each of the following cost formulas? 11. What amounts of ending inventory (EI) and cost of goods soid Sales return 600 16 Sales 3,800 22 Purchase 1,900 29 38.60 Purchase return 300 30 38.60 11. What amounts of ending inventory (EI) and cost of goode (EI) are reported under each of the following cost formulao FIFO periodic FIFO perpetual EI COGS EI COGS 152,960 151,500 152,960 131,500 276,260 274,800 151,500 274,800 а. b. 152,960 276,260 152,960 274,800 274,800 С. d. 131,500 296,260 296,260 12. What amounts of ending inventory (EI) and cost of goods sold (EI) are reported under each of the following cost formulas? Weighted average - Perpetual COGS Weighted average – Periodic EI COGS EI 150,080 150,080 а. 277,680 275,490 152,270 159,377 b. 268,383 277,680 277,680 275,400 с. 150,080 270,880 156,880 d. 152,360 266,480 161,280
Information on Jackhammer Co.'s inventory of a certain product is Tue the following information for the next two questions: information on Jackhammer Co.'s inventory of a certain product is as follows: Date Transaction Units Unit cost 1-Nov Inventory 2,000 P36.00 7 Purchase 3,000 37.20 12 Sales 4,200 15 Purchase 4,800 38.00
Transcribed Image Text:Information on Jackhammer Co.'s inventory of a certain product is Tue the following information for the next two questions: information on Jackhammer Co.'s inventory of a certain product is as follows: Date Transaction Units Unit cost 1-Nov Inventory 2,000 P36.00 7 Purchase 3,000 37.20 12 Sales 4,200 15 Purchase 4,800 38.00
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