https//newc Chapter 08 Pre-Built Proble. Enroll, Add, or Drop Classes 3 Femts Co

Question

https//newc Chapter 08 Pre-Built Proble. Enroll, Add, or Drop Classes 3 Femts Company began 2018 with 5,000 unts of ts princpal product. The cot of each une is $9. Merchandise tansactilons for the morh or Jamury 2018 are as folow Date of ,000 5.000 ncudes purchase price and cost or neigt Jan, 12 Total 6,000 units were on hane at the end of the month Cacuate January's ending inventory and cost or gooss soie for the month using each of tne tomowing anematives 1.FIFO, perlodik system 4 Average cost perodie sysem Average cost perpe tytem Compiete this queation by entering your answers in the tabs below Caicuiate lansary's ending eventory and cost e abods soid for the month usina rtro, perodi system. Cost par Ending

Explanation / Answer

STATEMENT SHOWING INVENTORY RECORD UNDER PERIODIC FIFO METHOD RECIEPTS COST OF GOODS SOLD BALANCE DATE UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ Balance Oct1 5000 9 45000 5000 9 45000 Purchasse 10-Jan 6000 10 60000 5000 10 50000 1000 10 10000 18-Jan 5000 11 55000 5000 11 55000 TOTAL 16000 160000 10000 95000 6000 65000 STATEMENT SHOWING INVENTORY RECORD UNDER PERIODIC LIFO METHOD RECIEPTS COST OF GOODS SOLD BALANCE DATE UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ Balance Oct1 5000 9 45000 5000 9 45000 Purchasse 10-Jan 6000 10 60000 5000 10 50000 1000 10 10000 18-Jan 5000 11 55000 5000 11 55000 TOTAL 16000 160000 10000 105000 6000 55000 STATEMENT SHOWING INVENTORY RECORD UNDER PERPETUAL LIFO METHOD RECIEPTS COST OF GOODS SOLD BALANCE DATE UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ Jn 1 5000 9 45000 5-Jan 3000 9 27000 2000 9 18000 10-Jan 6000 10 60000 2000 9 18000 6000 10 60000 12-Jan 3000 10 30000 2000 9 18000 3000 10 30000 18-Jan 5000 11 55000 2000 9 18000 3000 10 30000 5000 11 55000 20-Jan 4000 11 44000 2000 9 18000 3000 10 30000 1000 11 11000 TOTAL 11000 115000 10000 101000 6000 59000 STATEMENT SHOWING INVENTORY RECORD UNDER PERIODIC WEIGHTED AVERAGE METHOD RECIEPTS COST OF GOODS SOLD BALANCE DATE UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ Balance Oct1 5000 9 45000 Purchasse 10-Jan 6000 10 60000 18-Jan 5000 11 55000 TOTAL 16000 10 160000 10000 10 100000 6000 10 60000 STATEMENT SHOWING INVENTORY RECORD UNDER PERPETUAL WEIGHTED AVERAGE METHOD RECIEPTS COST OF GOODS SOLD BALANCE DATE UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ UNITS RATE AMOUNT $ Jn 1 5000 9 45000 5-Jan 3000 9 27000 2000 9 18000 10-Jan 6000 10 60000 2000 9 18000 6000 10 60000 Average 8000 9.75 78000 12-Jan 3000 9.75 29250 5000 9.75 48750 18-Jan 5000 11 55000 5000 9.75 48750 5000 11 55000 Average 10000 10.375 103750 20-Jan 4000 10.375 41500 6000 10.375 62250 TOTAL 11000 115000 10000 97750 6000 10.375 62250

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