please answer 8-13 use the information in the chart below to...

90.2K

Verified Solution

Question

Accounting

please answer 8-13 image
image
use the information in the chart below to find answers to 8-13. provide the answers in numerical form.
image
image
8 Cost of goods available for sale if the perpetual system is used 9 Ending Inventory Value using FIFO PERPETUAL 10 Cost of goods sold using FIFO PERPETUAL 11 Ending Inventory Value using LIFO PERPETUAL 12 Cost of goods sold using LIFO PERPETUAL 13 Gross Profit if all bottles of Retro Cream are sold at $45 per bottle and LIFO and LIFO PERPETUAL is used. Bobby Wino & Company reported the following December 2020 transactions pertaining to a 62oz bottle of Retro Cream, one of the company's many inventory items: Units 8 Unit Cost $23.00 $25.00 20 18 Beginning inventory Jan 1 5-Jan Purchase 7-Jan Sale 10-Jan Purchase 15-Jan Sale 20-Jan Purchase $25.50 22 6 10 $27.00 25-Jan Sale 13 Bobby Wino & Company reported the following December 2020 transactions pertaining to a 62oz bottle of Retro Cream, one of the company's many inventory items: Units 8 Unit Cost $23.00 $25.00 20 18 Beginning inventory Jan 1 5-Jan Purchase 7-Jan Sale 10-Jan Purchase 15-Jan Sale 20-Jan Purchase 25-Jan Sale 22 $25.50 6 10 $27.00 13 Use the above information to calculate the following: 8 9 10 11 Cost of goods available for sale if the perpetual system is used Ending Inventory Value using FIFO PERPETUAL Cost of goods sold using FIFO PERPETUAL Ending Inventory Value using LIFO PERPETUAL Cost of goods sold using LIFO PERPETUAL Gross Profit if all bottles of Retro Cream are sold at $45 per bottle and LIFO and LIFO PERPETUAL is used. 12 13

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