Just Need Yellow boxes filled out: March 15, 1 yellow box under Cost of Goods so
ID: 2380648 • Letter: J
Question
Just Need Yellow boxes filled out:
March 15, 1 yellow box under Cost of Goods sold=
March 15, 2 yellow boxes under Inventory Balance =
July 30, 2 yellow boxes under Inventory Balance =
October 5, 3 Yellow boxes under Cost of Goods Sold=
October 5, 3 yellow boxes under inventory balance=
October 26 both boxed under Good Purchased =
October 26, 4 yellow Boxes for Inventory Balance=
Date Activities Units Acquired at Cost Units Sold at Retail
Jan. 1 Beginning inventory 135 units @ $11.40 = $ 1,539
Jan. 10 Sales 125 units @ $41.40
Mar. 14 Purchase 285 units @ $16.40 = 4,674
Mar. 15 Sales 175 units @ $41.40
July 30 Purchase 435 units @ $21.40 = 9,309
Oct. 5 Sales 265 units @ $41.40
Oct. 26 Purchase 635 units @ $26.40 = 16,764
Totals 1,490 units $ 32,286 565 units
Just Need Yellow boxes filled out:
March 15, 1 yellow box under Cost of Goods sold=
March 15, 2 yellow boxes under Inventory Balance =
July 30, 2 yellow boxes under Inventory Balance =
October 5, 3 Yellow boxes under Cost of Goods Sold=
October 5, 3 yellow boxes under inventory balance=
October 26 both boxed under Good Purchased =
October 26, 4 yellow Boxes for Inventory Balance=
Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.Explanation / Answer
March 15, 1 yellow box under Cost of Goods sold
165@16.40=2706
March 15, 2 yellow boxes under Inventory Balance:
0 @11.40=0
120@16.40=1968.00
July 30, 2 yellow boxes under Inventory Balance:
0 @11.40=0
120@16.40=1968.00
Total = 11277.00
October 5, 3 Yellow boxes under Cost of Goods Sold:
0 @11.40=0
120@16.40=1968.00
145@21.40=3103.00
Total = 5071.00
October 5, 3 yellow boxes under inventory balance:
0 @11.40=0
0@16.40=0
290@21.40=6206.00
Total = 6206.00
October 26 both boxed under Goods Purchased:
635@26.40
October 26, 4 yellow Boxes for Inventory Balance:
0 @11.40=0
0@16.40=0
290@21.40=6206.00
635@26.40=16764.00
Hope this helped ! Let me know in case of any queries.
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