Consider the following transactions for DeTrees Company for the month shown in chronological order: In the table below, calculate the dollar value for the period for each of the following items using the listed 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. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$" (i.e. $12,345.67). Weighted average cost per unit = per unit. Cost Allocation Method Cost of Goods Available Cost of Goods Sold Ending Inventory Sales Gross Margin First-in, First-out (FIFO) Last-in, First-out (LIFO) Weighted Average (AVG)
Consider the following transactions for DeTrees Company for the month shown in chronological order: In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using perpetual inventory updating. PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$" (i.e. $12,345.67). Weighted average cost per unit = per unit. Cost Allocation Method Cost of Goods Available Cost of Goods Sold Ending Inventory Sales Gross Margin First-in, First-out (FIFO) Last-in, First-out (LIFO) Weighted Average (AVG)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Consider the following transactions for DeTrees Company for the month shown in chronological order:
In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using perpetual inventory updating.
PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$" (i.e. $12,345.67).
Weighted average cost per unit = per unit.
Cost Allocation Method | Cost of Goods Available | Cost of Goods Sold |
Ending Inventory |
Sales |
Gross Margin |
First-in, First-out (FIFO) |
|||||
Last-in, First-out (LIFO) |
|||||
Weighted Average (AVG) |
![Number of Units
Unit Cost
Sales
Beginning inventory
Purchased
100
$66
80
75
Sold
50
$120
125
Sold
25
Ending inventory
105](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6e7c8fe0-8509-4645-a003-8bd95c447a88%2Ff670aee5-0931-49cd-b5b1-e43f226dbdd7%2Fb0cxr8n_processed.png&w=3840&q=75)
Transcribed Image Text:Number of Units
Unit Cost
Sales
Beginning inventory
Purchased
100
$66
80
75
Sold
50
$120
125
Sold
25
Ending inventory
105
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