Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. i am not sure if i did any of this calculations ri

I am not sure if I did any of this calculations right, thank you! ...

70.2K

Verified Solution

Question

Accounting

I am not sure if I did any of this calculations right, thank you! image
image
Logout-Central Authenticatio | Assignments: FA18: INTRO To | D Module 2 Exam: Part 1 (ProblerX C Not Secure! ezto.rnheducation.com/hm.tpx Module 2 Exam: Part 1 (Problems) Question 2 (of 5) 2. Consider the following information for Maynor Company, which uses a periodic inventory system: January 1 Beginning Inventory 18 $68 March 28 Purchase August 22 Purchase October 14 Purchase 28 36 41 74 78 84 $1,224 2,072 2,808 3,444 Goods Available for Sale 123 $9,548 The company sold 41 units on May 1 and 36 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. (Round the per unit cost to two decimal places and then round your answer to the nearest whole dollar.) a. FIFO Ending Inventory 3,834 Cost of Goods Sold 5,714 b. LIFO

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