Wards' inventories are determined using FIFO (periodic). Wards provided the following information for the first quarter of 2019: 180 units Sl frs Beginning inventory, January 1, 2019 25 60 units @ $63.00 3180 40 units @ $56.25-2250 (1) Purchase ठ ने w Sar (2) Purchase 66.009so 95 units @ $66.00-627dS t 30 units @ $64.50-935 o niti (3) Purchase 1935 Ending inventory, March 31, 2019 45 nits 14235 Es Tarar 292s 5.234 1) Compute the company's cost of goods sold for the first quarter. 2) Compute the ending inventory to be reported on Wards' balance sheet at March 31, 2019., 14255-2925 -- 113l0 ক্ 2. Tablet Company, which uses a periodic inventory system, reports the following in its inventory records for June: ot Soods fr Sele Avtase nt Cost Units Unit Cost uniks for Sele \১৩.০০ Sం .00 Beginning Inventory 10 $12.00 Purchase #1 5 $10.00 70.uu A40.00 Purchase #2 5 $14.00 Dnvestra During June, Tablet Company sold 12 units. Using the weighted-average cost method, compute the June 240 ఇా 30 ending inventory balance for this product. 30 Maits 900 ৪ 3. Autok Fabricators, Inc. has 10 units in beginning inventory costing $45 each. It purchased 90 more for $36 each during the month. The company sold 80 units during the month. Autok used a periodic inventory Cir system. Calculate cost of goods sold using: 1) FIFO
Wards' inventories are determined using FIFO (periodic). Wards provided the following information for the first quarter of 2019: 180 units Sl frs Beginning inventory, January 1, 2019 25 60 units @ $63.00 3180 40 units @ $56.25-2250 (1) Purchase ठ ने w Sar (2) Purchase 66.009so 95 units @ $66.00-627dS t 30 units @ $64.50-935 o niti (3) Purchase 1935 Ending inventory, March 31, 2019 45 nits 14235 Es Tarar 292s 5.234 1) Compute the company's cost of goods sold for the first quarter. 2) Compute the ending inventory to be reported on Wards' balance sheet at March 31, 2019., 14255-2925 -- 113l0 ক্ 2. Tablet Company, which uses a periodic inventory system, reports the following in its inventory records for June: ot Soods fr Sele Avtase nt Cost Units Unit Cost uniks for Sele \১৩.০০ Sం .00 Beginning Inventory 10 $12.00 Purchase #1 5 $10.00 70.uu A40.00 Purchase #2 5 $14.00 Dnvestra During June, Tablet Company sold 12 units. Using the weighted-average cost method, compute the June 240 ఇా 30 ending inventory balance for this product. 30 Maits 900 ৪ 3. Autok Fabricators, Inc. has 10 units in beginning inventory costing $45 each. It purchased 90 more for $36 each during the month. The company sold 80 units during the month. Autok used a periodic inventory Cir system. Calculate cost of goods sold using: 1) FIFO
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Can you please help without question number 2. I’m trying to work it out but not sure if I’m doing it right?
Transcribed Image Text:Wards' inventories are determined using FIFO (periodic). Wards provided the following information for the
first quarter of 2019:
180 units Sl frs
Beginning inventory, January 1, 2019
25
60 units @ $63.00 3180
40 units @ $56.25-2250
(1) Purchase
ठ ने
w Sar
(2) Purchase
66.009so
95 units @ $66.00-627dS t
30 units @ $64.50-935 o niti
(3) Purchase
1935
Ending inventory, March 31, 2019
45 nits
14235
Es
Tarar 292s
5.234
1) Compute the company's cost of goods sold for the first quarter.
2) Compute the ending inventory to be reported on Wards' balance sheet at March 31, 2019.,
14255-2925 -- 113l0
ক্
2. Tablet Company, which uses a periodic inventory system, reports the following in its inventory records for
June:
ot Soods fr Sele
Avtase nt Cost
Units
Unit Cost
uniks for Sele
\১৩.০০
Sం .00
Beginning Inventory
10
$12.00
Purchase #1
5
$10.00
70.uu
A40.00
Purchase #2
5
$14.00
Dnvestra
During June, Tablet Company sold 12 units. Using the weighted-average cost method, compute the June
240
ఇా
30 ending inventory balance for this product.
30 Maits
900
৪
3. Autok Fabricators, Inc. has 10 units in beginning inventory costing $45 each. It purchased 90 more for $36
each during the month. The company sold 80 units during the month. Autok used a periodic inventory
Cir
system.
Calculate cost of goods sold using:
1) FIFO
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