Hi, I am having trouble getting how to do this, please help. Please please show

Question

Hi, I am having trouble getting how to do this, please help. Please please show work:

FOB shipping point means the pays the shipping costs? a. Seller b) Buyer Seller and buyer d. The freight company Problem I: Clearly label and show your work Use the following information for the month of May Date May 1 May 9 Description Beginning Inventory 20 units Purchase Sale Purchase Sale Quantity Price Per Unit $120 $122 May 17 May 21 May 29 75 units 50 units 30 units 40 units $126 Calculate ending inventory and cost of goods sold under the periodic method for : a. FIFO Enduna nver b. LIFO c. Average Cost

Explanation / Answer

Calculate ending inventory and cost of goods sold :

FIFO LIFO Weighted average Specific id Ending inventory (30*126+5*122) = 4390 (20*120+15*122) = 4230 (15330/125*35) = 4292.40 (5*120+20*122+10*126) = 4300 Cost of goods sold (15330-4390) = 10940 (15330-4230) = 11100 (15330-4292.40) = 11037.60 (15330-4300) = 11030

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

---

---

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