Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1-4 \begin{tabular}{|l|r|r|r|} \hline beginnin

1-4 \begin{tabular}{|l|r|r|r|} \hline Beginning imventory & 220 units (i) & 20...

60.1K

Verified Solution

Question

Accounting

1-4
image
\begin{tabular}{|l|r|r|r|} \hline Beginning imventory & 220 units (i) & 20 & 4400 \\ \hline Purchase on January 25 & 300 units (i) & 21 & 6300 \\ \hline Purchase on March 15 & 215 tunits (d & 22 & 4730 \\ \hline Purchaxe on October 2 & 450 units \& & 23 & 10.350 \\ \hline Goods available for sale & & 25.780 \\ \hline \end{tabular} If there are 600 units in ending imventory. what is the valus of ending inventory using FIFO? If there are 800 units in ending imventory, what is the valus of COGS using LIFO A cooporation ases a periedic inventory system. The company has a beginning inventory of 200 units at 54 each on Jamary 1 . It purchases 500 units at $5 each in February and 200 usits at $7 each in March. There were no additional purchases or sales during the remainder of the year. If the company sells 300 umits, what is COGS wing the LIFO method? If the company sells 150 units, what is COGS using the weighted average method? In a period of inflation, which inventory costing method assigns the costing method that approximales current costs? What if pricing are decreasing

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Mutations can be classified based on either the effect of the mutation on the function of...

Physics
1.2K views

1. Calculate the probability of locating an electron in a one-dimensional box of length 2.00 nm...

Advance Math
1.2K views

Let R=R+. Define: a+b = ab ; a*b = a^(lnb) 1. Is (R+, +, *) a ring? 2....

Physics
1.2K views

A 5 wire potentiometer with each wire of 1 m is connected to a storage...

Basic Math
1.2K views

45 m to centimeters Kilo 1000 basic units Hecto 100 basic units Deka 10 basic...

Basic Math
1.2K views

An architect makes a model of a new house. The model shows a tile patio...

Algebra
1.2K views

The late fee for library books is 2 00 plus 154 each day for a...

Accounting
1.2K views

i want it with formula in excel sheet You have just been...

Accounting
1.2K views

The Goodworks Mission, a private not-for-profit organization, received the following pledges and receipts during the...

Accounting
1.2K views

Two projects are considered to be mutually exclusive if: a-Selecting one would automatically eliminate...

Accounting
1.2K views

Por qu una empresa podra invertir en otra empresa? A. Para garantizar un suministro...

Finance
1.2K views

Greta, an elderly investor, has a degree of risk aversion of A = 3 when...