The Luna Corporation made the following materials purchased and issued during the month of January. Inventory: Receipts: Issuances: January 1 January 10 January 25 January 15 January 27 1,000 units 8,000 8,500 8,500 8,000 1. Periodic system a. FIFO method b. Weighted average method @ @ Required: The cost of materials used and the cost assigned to the inventory at the end of the month using 2. Perpetual system a. FIFO method b. Moving average method P 11.00 12.00 11.50

The Luna Corporation made the following materials purchased and issued during the month of January. Inventory: Receipts: Issuances: January 1 January 10 January 25 January 15 January 27 1,000 units 8,000 8,500 8,500 8,000 1. Periodic system a. FIFO method b. Weighted average method @ @ Required: The cost of materials used and the cost assigned to the inventory at the end of the month using 2. Perpetual system a. FIFO method b. Moving average method P 11.00 12.00 11.50

Name: The Luna Corporation made the following materials purchased and issue
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Description: The Luna Corporation made the following materials purchased and issuedduring the month of January.Inventory:Receipts:Issuances:January 1January 10January 25January 15January 271,000 units8,0008,5008,5008,0001. Periodic systema. FIFO methodb. Weighte

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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How do you calculate the total amount to be assigned to the ending inventory and cost of goods sold December 31 under each of the following methods?
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