Bulldog Appliances uses the periodic inventory system. Details regarding the inv

Question

Bulldog Appliances uses the periodic inventory system. Details regarding the inventory of appliances at August 1, 2009, purchases invoices during the year, and the inventory count at July 31, 2010, are summarized as follows: http://sjc.cengagenow.com/ilrn/books/wrfm10h/images/ch06/wrfm10h_ch06_pr6_3b.gif 1. Determine the cost of the inventory on July 31, 2010, by the first-in, first-out method. If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. First-In, First-Out Method Model Quantity Unit Cost Total Cost ALN3 $ $ ALN3 UGA1 UGA1 SL89 F69 H60W H60W J600T J600T ZZH0 ZZH0 Total $ 2. Determine the cost of the inventory on July 31, 2010, by the last-in, first-out method. If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. Last-In, First-Out Method Model Quantity Unit Cost Total Cost ALN3 $ $ UGA1 UGA1 UGA1 SL89 SL89 F69 H60W H60W H60W J600T J600T ZZH0 ZZH0 Total $ 3. Determine the cost of the inventory on July 31, 2010, by the average cost method. If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. Average Cost Method Model Quantity Unit Cost Total Cost ALN3 $ $ UGA1 SL89 F69 H60W J600T ZZH0 Total $

Explanation / Answer

ALN3 UGA1 SL89 F69 H60W J600T ZZH0 FIFO 2210 412 4753 1782 564 2005 1025 LIFO 2246 414 4890 1842 646 2130 1207 AvgCost 2262 414 4807 1806 605 2064 1104

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