DeForest Company had the following transactions for the month. Sales for the month are $85 per unit.Number of UnitsCost per UnitTotalBeginning inventoryPurchased Apr. 30Purchased Aug. 15500$40$20,00027,00026,00024,50097,5006004565040Purchased Dec. 1070035Totals (goods available)Ending inventory2,450550In the table below, calculate the dollar value for the period for each of the following items using thelisted cost allocation methods and using periodic inventory updating.PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" 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). 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: DeForest Company had the following transactions for the month. Sales
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Description: DeForest Company had the following transactions for the month. Sales for the month are $85 per unit.Number of UnitsCost per UnitTotalBeginning inventoryPurchased Apr. 30Purchased Aug. 15500$40$20,00027,00026,00024,50097,5006004565040Purchased Dec. 1

FIFO stands for "First In, First Out" and is a method of inventory valuation used in accounting.…

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)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 2PB: DeForest Company had the following transactions for the month. Calculate the ending inventory dollar...

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