A Puree Eng 2 Wed-Morning 8. xMeet - apn-vuny-xbzf (2) Facebookf (2) Facebookb Answered: On December 31, X8 บทความบัญชี+i facebook.com/messenger_media/?thread_id=3171223279583564&attachment_id=226425209162634&message_id=mid.%24gAAtENFUVQUx93sxjNF3rYcYn4ptoúo 1 Katoon Imports provided the following information regarding its inventory for the current year, its secondyear of operations.TransactionPurchases in UnitsSale in UnitsUnit CostTotal CostBeginning inventory1/170,000$3.50$ 245,000February 891,0003.60327,600March 15200,5003.80761,900April 10124,0004.10508,400Units Sold-April 22 at $12310,000Мay 9162,0004.35704,700June 1956,0004.56255,360Units Sold-August 11 at $14231,000September 2030,0004.75142,500October 3082,0004,85397,700November 1716,0004.9078,400Units Sold-December 21 at $1643,000At ending the current year, the company estimated selling price of ending inventory is $1,102,200 andselling expenses is $63,000.Instruction:1.1 Compute Katoon's ending inventory and cost of goods sold under each of the following cost-flowassumptions assuming a periodic inventory system (FIFO). (Round your answer for cost per unit to two decimalplaces.)1.2 Using the facts from 1.1, prepare journal entries required at ending the current year, assuminginventory is recorded at LCNRV and a periodic inventory system using the Cost-of-goods-sold method.8:35 AMO Type here to searchO 4) ENG2/17/2021..

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šo 1 Katoon Imports provided the following information regarding its inventory for the current year, its second year of operations. Purchases in Units Sale in Units Unit Cost 70,000 Transaction Total Cost Beginning inventory 1/1 February 8 March 15 April 10 S 245,000 $3.50 91,000 3.60 327,600 200,500 3.80 761,900 124,000 4.10 so8,400 Units Sold-April 22 at $12 310,000 | Мay 9 162,000 704,700 4.35 June 19 56,000 4.56 255,360 Units Sold-August 11 at $14 September 20 October 30 November 17 231,000 30,000 4.75 142,500 82,000 4.85 397,700 16,000 4.90 78,400 Units Sold-December 21 at $16 43,000 At ending the current year, the company estimated selling price of ending inventory is $1,102.200 and selling expenses is $63,000. Instruction: LI Compute Katoon's ending inventory and cost of goods sold under cach of the following cost-flow assumptions assuming a periodic inventory system (FIFO). (Round your answer for cost per unit to two decimal places.)

šo 1 Katoon Imports provided the following information regarding its inventory for the current year, its second year of operations. Purchases in Units Sale in Units Unit Cost 70,000 Transaction Total Cost Beginning inventory 1/1 February 8 March 15 April 10 S 245,000 $3.50 91,000 3.60 327,600 200,500 3.80 761,900 124,000 4.10 so8,400 Units Sold-April 22 at $12 310,000 | Мay 9 162,000 704,700 4.35 June 19 56,000 4.56 255,360 Units Sold-August 11 at $14 September 20 October 30 November 17 231,000 30,000 4.75 142,500 82,000 4.85 397,700 16,000 4.90 78,400 Units Sold-December 21 at $16 43,000 At ending the current year, the company estimated selling price of ending inventory is $1,102.200 and selling expenses is $63,000. Instruction: LI Compute Katoon's ending inventory and cost of goods sold under cach of the following cost-flow assumptions assuming a periodic inventory system (FIFO). (Round your answer for cost per unit to two decimal places.)

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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