The beginning inventory, purchases, and sales for Myrl Sign Company for the month of April are shown. Date Beginning Inventory and Purchases Sales Units Units Cost/Unit April 1 (BI) 100 $4.00 100 4.50 200 4.60 April 20 400 5.30 April 30 640 BI: Beginning Inventory Required: Calculate the total amount to be assigned to cost of goods sold for April and the ending inventory on April 30, under each f the following methods. In your calculations round the average unit cost to the nearest cent and answers to the neare dollar. Cost of Goods Sold Inventory on Hand 1. Perpetual LIFO inventory method 2. Perpetual moving-average inventory method

The beginning inventory, purchases, and sales for Myrl Sign Company for the month of April are shown. Date Beginning Inventory and Purchases Sales Units Units Cost/Unit April 1 (BI) 100 $4.00 100 4.50 200 4.60 April 20 400 5.30 April 30 640 BI: Beginning Inventory Required: Calculate the total amount to be assigned to cost of goods sold for April and the ending inventory on April 30, under each f the following methods. In your calculations round the average unit cost to the nearest cent and answers to the neare dollar. Cost of Goods Sold Inventory on Hand 1. Perpetual LIFO inventory method 2. Perpetual moving-average inventory method

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Description: The beginning inventory, purchases, and sales for Myrl Sign Company for the month of April are shown.DateBeginning Inventory and PurchasesSalesUnitsCost/UnitUnitsApril 1 (BI)100$4.001004.502004.60April 204005.30April 30640BI: Beginning InventoryRequ

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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