Consider the following transactions for DeTrees Company for the month shown in chronological order:Number of UnitsUnit CostSales100$66Beginning inventoryPurchasedSold807550$120Sold25125Ending inventory105In the table below, calculate the dollar value for the period for each of the following items using thelisted cost allocation methods and using perpetual inventory updating.PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed(i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimalplaces and include "$" (i.e. $12,345.67).ion Weighted average cost per unit =per unit.CostCost of GoodsAllocationCost of Goods Sold Ending InventorySalesGross MarginAvailableMethodFirst-in,First-out(FIFO)Last-in,First-out(LIFO)WeightedAverage(AVG)

Name: Consider the following transactions for DeTrees Company for the month
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Description: Consider the following transactions for DeTrees Company for the month shown in chronological order:Number of UnitsUnit CostSales100$66Beginning inventoryPurchasedSold807550$120Sold25125Ending inventory105In the table below, calculate the dollar valu

Sales = (50 units x $120) + (25 units x $125) = $6000 + $3125 = $9125 Cost of Goods Available = (100…

Business

Accounting

Weighted average cost per unit = per unit. Cost Cost of Goods Allocation Cost of Goods Sold Ending Inventory Sales Gross Margin Available Method First-in, First-out (FIFO) Last-in, First-out (LIFO) Weighted Average (AVG)

Weighted average cost per unit = per unit. Cost Cost of Goods Allocation Cost of Goods Sold Ending Inventory Sales Gross Margin Available Method First-in, First-out (FIFO) Last-in, First-out (LIFO) Weighted Average (AVG)

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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