Principles of Financial Accounting.
22nd Edition
ISBN: 9780077632892
Author: John J. Wild
Publisher: McGraw Hill
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Chapter 6, Problem 6QS
Perpetual: Inventory costing with FIFO P1
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units.
| Units | Unit Cost | |
| Beginning Inventory on January 1 | 320 | $3.00 |
| Purchase on January 9 | 80 | 3.20 |
| Purchase on January 25 | 100 | 3.34 |
Required
Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. (Round per unit costs and inventory amounts to cents.)
QS 6-6
Perpetual: Inventory costing with weighted average P1
Refer to the information in QS 6-4 and assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. (Round per unit costs and inventory amounts to cents.)
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Chapter 6 Solutions
Principles of Financial Accounting.
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Ch. 6 - Prob. 5DQCh. 6 - Prob. 6DQCh. 6 - Prob. 7DQCh. 6 - If inventory errors are said to correct...Ch. 6 - Prob. 9DQCh. 6 - What is the meaning of market as it is used in...Ch. 6 - Prob. 11DQCh. 6 - What factors contribute to (or cause) inventory...Ch. 6 - When preparing interim financial statements, what...Ch. 6 - Prob. 14DQCh. 6 - Prob. 15DQCh. 6 - Prob. 16DQCh. 6 - Prob. 17DQCh. 6 - Inventory ownership Homestead Crafts, a...Ch. 6 - Prob. 2QSCh. 6 - Computing goods available for sale Wattan Company...Ch. 6 - A company reports the following beginning...Ch. 6 - Perpetual: Inventory costing with FIFO P1 A...Ch. 6 - Perpetual: Inventory costing with FIFO P1 A...Ch. 6 - Perpetual: Inventory costing with FIFO P1 A...Ch. 6 - Perpetual: Inventory costing with FIFO P1 A...Ch. 6 - Perpetual: Inventory costing with FIFO P1 A...Ch. 6 - Perpetual: Assigning costs with FIFO Trey Monson...Ch. 6 - Perpetual: Assigning costs with FIFO P1 Trey...Ch. 6 - Perpetual: Assigning costs with FIFO P1 Trey...Ch. 6 - Perpetual: Assigning costs with FIFO P1 Trey...Ch. 6 - Perpetual: Assigning costs with FIFO P1 Trey...Ch. 6 - Perpetual: Assigning costs with FIFO P1 Trey...Ch. 6 - Perpetual: Assigning costs with FIFO P1 Trey...Ch. 6 - Perpetual: Assigning costs with FIFO P1 Trey...Ch. 6 - QS 5-18 Contrasting inventory costing...Ch. 6 - Prob. 19QSCh. 6 - Prob. 20QSCh. 6 - Analyzing inventory Endor Company begins the year...Ch. 6 - Prob. 22QSCh. 6 - Prob. 23QSCh. 6 - Prob. 1ECh. 6 - Inventory costs Walberg Associates, antique...Ch. 6 - Perpetual: Inventory costing methods P1 Laker...Ch. 6 - Question: Laker Company reported the following...Ch. 6 - Prob. 5ECh. 6 - Prob. 6ECh. 6 - Perpetual: Inventors- costing methodsFIFO and...Ch. 6 - Question: Refer to the information in Exercise...Ch. 6 - Question: Refer to the information in Exercise 6-7...Ch. 6 - Lower of cost or market Martinez Companys ending...Ch. 6 - Prob. 11ECh. 6 - Prob. 12ECh. 6 - Prob. 13ECh. 6 - Periodic: Cost flow assumptions Lopez Company...Ch. 6 - Periodic: Cost flow assumptions Floras Gifts...Ch. 6 - Prob. 16ECh. 6 - Estimating ending inventorgross profit method On...Ch. 6 - Prob. 18ECh. 6 - Alternative cost flows Warnerwoods Company uses a...Ch. 6 - Perpetual: Alternative cost flows P1 Warnerwoods...Ch. 6 - Alternative cost flows Montoure Company uses a...Ch. 6 - Perpetual: Alternative cost flows P1 Montoure...Ch. 6 - Prob. 5APCh. 6 - Prob. 6APCh. 6 - Prob. 7APCh. 6 - Prob. 8APCh. 6 - Prob. 9APCh. 6 - Prob. 10APCh. 6 - Alternative cost flows Ming Company uses a...Ch. 6 - Perpetual: Alternative cost flows P1 Ming Company...Ch. 6 - Perpetual: Alternative cost flows Aloha Company...Ch. 6 - Prob. 4BPCh. 6 - Prob. 5BPCh. 6 - Prob. 6BPCh. 6 - Prob. 7BPCh. 6 - Prob. 8BPCh. 6 - Retail inventory method The records of Macklin Co....Ch. 6 - Prob. 10BPCh. 6 - Prob. 6SPCh. 6 - Prob. 1BTNCh. 6 - Prob. 2BTNCh. 6 - ETHICS CHALLENGE Golf Challenge Corp. is a retail...Ch. 6 - COMMUNICATING IN PRACTICE You are a financial...Ch. 6 - Prob. 5BTNCh. 6 - Prob. 7BTNCh. 6 - Prob. 9BTN
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