Terps Company reported the following inventory transactions for the month of November. 70 units Nov. 1 Inventory on hand Sold Purchased $12 each 4 30 units 11 60 units $15 each 12 Sold 70 units 22 Purchased 50 units $17 each 23 Sold 60 units 3. Determine the Cost of Goods Sold using Perpetual LIFO method. 4. Determine the Cost of Ending Inventory using Perpetual FIFO method. 5. Determine the Cost of Ending Inventory on November 30, using Perpetual Weighted Average method (round your answer to the nearest cent). Answer Section 1. D 2. A 3. $2,350 4. $340 5. $316

Terps Company reported the following inventory transactions for the month of November. 70 units Nov. 1 Inventory on hand Sold Purchased $12 each 4 30 units 11 60 units $15 each 12 Sold 70 units 22 Purchased 50 units $17 each 23 Sold 60 units 3. Determine the Cost of Goods Sold using Perpetual LIFO method. 4. Determine the Cost of Ending Inventory using Perpetual FIFO method. 5. Determine the Cost of Ending Inventory on November 30, using Perpetual Weighted Average method (round your answer to the nearest cent). Answer Section 1. D 2. A 3. $2,350 4. $340 5. $316

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Description: please answer 4 and 5? answer are at the bottom what is the process to get these answers Terps Company reported the following inventory transactions for the month of November.70 unitsNov. 1Inventory on handSoldPurchased$12 each430 units1160 units$15

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter6: Inventories

Section: Chapter Questions

Problem 4BE: Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory...

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