Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. cumcil llll06235 ayayai ltd. reports the following

CumCIL LLLL06235 Ayayai Ltd. reports the following inventory transactions in a periodic inventory system for...

90.2K

Verified Solution

Question

Accounting

image

CumCIL LLLL06235 Ayayai Ltd. reports the following inventory transactions in a periodic inventory system for the month of June. A physical inventory count determined that 1,700 units were on hand at the end of the month. Date Units Cost $4 June 1 12 Explanation Beginning inventory Purchases Purchases Purchases Units 1,390 2,230 4,580 1,640 5 Total Cost $5,560 11,150 27,480 11,480 6 16 23 7 Determine the cost of the ending inventory and cost of goods sold using (1) FIFO and (2) average cost. (Round FIFO answers to the nearest whole dollar, eg. 5,275 and Average cost answers to 2 decimal places, eg. 15.25. Round unit cost to 6 decimal places.eg. 15.243876.) FIFO Average Cost of the ending inventory $ Cost of goods sold $

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

Statistics
1.2K views

At a used car lot, 8 different car models are to be parked close to...

Statistics
1.2K views

this claim so you will select a random sample of 40 women who have recently...

Statistics
1.2K views

Use the Statistical and Critical Thinking flow chart interactive to answer the following question In...

Algebra
1.2K views

2 1 point Solve the system of equations using any method x y 2 3x...

Accounting
1.2K views

Wagner Industrial Motors, which is currently operating at full capacity, has sales of $2,380, current...

Accounting
1.2K views

What is the amount on Schedule D, line 13 ? Question 11 What is the...

Accounting
1.2K views

View previous atte 1 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago...

Accounting
1.2K views

41. Tax Computation Problem Paul and Donna Decker are married taxpayers, ages 44 and 42,...

Accounting
1.2K views

the assets of a company are $128526 and the liabilities are $88216. equity should equal:

Accounting
1.2K views

Skipper Map Company's balance sheet at December 31, 2023, reported the following Click the icon...

Accounting
1.2K views

By making a sample application consisting of at least 10 (ten) financial events and 4...

Finance
1.2K views

Please show full solution 9. Suppose that u is a strictly increasing and strictly...