Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. need help with part b please. i've tried many meth

need help with part b please. i've tried many methods but none of them seem...

80.2K

Verified Solution

Question

Accounting

need help with part b please. i've tried many methods but none of them seem to be working. image
image
Question 2 of 10 1/2 ur tn Marigold Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Units Unit Cost Aug. 2 $70 99 3 Explanation Purchases Purchases Sales Purchases Sales Total Cost $18,130 48,807 10 259 493 (283) 876 (341) Balance in Units 259 752 469 1,345 1,004 15 118 103.368 25 (a) Your answer is correct. Calculate the cost of goods sold and ending inventory using the FIFO cost method. Cost of goods sold $ 54265 Ending inventory $ 116040 e Textbook and Media Attempts: unlimited (b) Your answer is incorrect. Calculate the cost of goods sold and ending inventory using the average cost method. (Round average cost per unit to 2 decimal places, e.g. 1.25 and final answers to decimal places, eg. 5,125.) Cost of goods sold $ Ending inventory $ e Textbook and Media Save for Later Attempts: unlimited Submit Answer MacBook Pro

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

1. What are the intracellular junctions in plants and what do they do? 2.What are the intracellular...

Psychology
1.2K views

What’s the relationship between psychoanalysis and mainstream academic psychology?

Basic Math
1.2K views

A person invests money in a savings account that pays 2.5% simple interest. After one...

Basic Math
1.2K views

The Boston marathon is a very competitive race. To qualify for the Boston marathon, male...

Statistics
1.2K views

1 point Scores on a certain intelligence test for children between ages 13 and 15...

Calculus
1.2K views

Write a in the form a T aNN without finding T and N r t...

Algebra
1.2K views

In Exercises 9 15 describe the right behavior of the graph of the polynomi 9...

Algebra
1.2K views

Problem 1 Consider an angle that measures 21 radians a Convert the radian measure to...

Accounting
1.2K views

A piece of equipment is purchased for $40,000 and hasalloyan estimated salvage value of $1,000...

Accounting
1.2K views

The companywide overhead rate is: The amount of total manufacturing overhead allocated to...

Accounting
1.2K views

Help! Thanks. must iiusepy 3170 o Depreciation choice Example: Mr. Donut buys...

Finance
1.2K views

Use the information given in the income statement to answer the question that follows. ...