PLEASE SHOW ALL CALCULATIONS FOR FULL CREDIT ! A company purchased 100 units for

Question

PLEASE SHOW ALL CALCULATIONS FOR FULL CREDIT !

A company purchased 100 units for $20 each on January 31 It purchased 100 units for $30 on February 28 It sold 150 units for $45 each from March 1 through December 31. If the company uses the First-In. First-Out inventory costing method, what is the amount of ending inventory on December 31? A company purchased 100 units for $20 each on January 31 It purchased 100 units for $30 on February 28 It sold 150 units for $45 each from March 1 through December 31. If the company uses the average-cost inventory costing method, what is the amount of Cost of goods sold on the December 31 income statement? A company purchased 100 units for S20 each on January 31 It purchased 100 units for $30 on February 28 It sold 150 units for $45 each from March 1 through December 31 If the company uses the average cost inventory costing method, what is the amount of Cost of goods sold on the December 31 income statement' Samson Company had the following balances and transactions during 2013 What would the company's Inventory amount be on the December 31. 2013 balance sheet if the perpetual last-In. First-Out costing method is used? (Answers are rounded to the nearest dollar.)

Explanation / Answer

1)
TOTAL GOODS PURCHASED:200
and total cost for 200 goods

100*20+100*30 = 5000
sold 150 units for 45
150*45

=6250
net=6250-5000 = 1250
OPTION A)1250

2)

Even if the company uses iunventory cost method the net vale remains the same

OPTION B)1250

3) by average cost method

sold 150 units for 45
150*45

=6750

OPTION D) 6750

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