21 Online X ments&takeAssignmentSessionLocator-assignment; w.com/ilm/takeAssignm

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21 Online X ments&takeAssignmentSessionLocator-assignment; w.com/ilm/takeAssignment/ takeAssignmentMain.do?invoker-assign eBook Calculator Periodic inventory by three methods FIFO LIFO Weighted Average | Final Question Instructions The beginning inventory or idnight Supplies and data on purchases and sales for a three month period are as follows: Date Transaction Number of Units Per Unit Total $562,500 1,912,500 1,687.500 562,500 225,000 Jan 1 Inventory 7,500 $ 75.00 22.500 8500 1.912.500 10 Purchase 28 Sale 30 Sale 85.00 11,250 15000 3,750 150.00 1,500 54,000 27,000 25,5001 45,000 30.000 Feb 5 Sale 150.00 8750 4,725,000 160 00 160.004,080,000 89 50 4027,500 160.00 90.00 160.00 10 Purchase 16 Sale 28 Sale 4,320,000 Mar 5 Purchase 14 Sale 25 Purchase 30 Sale 7,500 675,000 26 250 4 200,000 Check My Work

Explanation / Answer

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 $ Jan1 balance 7500 75 562500 Purchasse 10-Jan 22500 85 1912500 10-Feb 54000 87.5 4725000 5-Mar 45000 89.5 4027500 25-Mar 7500 90 675000 TOTAL 136500 87.1978 11902500 125250 87.1978 10921525 11250 87.1978 980975 Inventory mar31 980,975 Cost of goods sold $10,921,525

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