PLEASE SHOW ALL THE WORK FOR FULL CREDIT ! Samson Company had the following bala

Question

PLEASE SHOW ALL THE WORK FOR FULL CREDIT !

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 average-costing method is used? First-Out costing method is used' (Answers are rounded to the nearest dollar) Metro Computer Company had the following balances and transactions during 2014 What would the Cost of goods sold be as reported on the income statement at December 31. 2014 if the perpetual Last-In. First-Out costing method is used? (Answers are rounded to the nearest dollar.)

Explanation / Answer

1) Option B COGS on march 10 = 8*70 = $560 After purchasing 20 more units average cost = (2*70 +20*80 )/22 COGS on october 30 = 560 + 1740/22*15 = 1746 2) COGS = 50*75 + 150*80 = 15750 option C

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.