assuming that beach soda uses the lifo cost flow assumption, the cost of goods s
ID: 2599579 • Letter: A
Question
assuming that beach soda uses the lifo cost flow assumption, the cost of goods sold to be recorded at January 14 is?
assuming that beach soda uses the average cost flow assumption, the cost of goods sold to be recorded at January 14 is colon round your intermediate current calculation to one decimal place in final answer to the nearest cent.
assuming that beach soda uses the F ifo cost flow assumption, the 36 units of this product and inventory at January 31 have a total cost of.
assuming that beach soda uses the lifo cost flow assumption, the 36 units of this product in inventory at January 31 have a total cost of?
Comprehensive Final Exam Help Save Required information Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows Beginning inventory (3an. 1) Purchase (Jan. 11) Purchase (Jan. 26) Total Quantity unit Cost Tota s 14 $ 20 $ 22 322 3ee 72 23 64 slaaa On January 14. Beech Soda,Inc sold 28 units of this product. The other 36 unts remained in inventory at January 31. Assuming that Beech Soda uses the FIFO cost flow assumption, the cost of goods sold to be recorded at January 14 is: Multiple ChoiceExplanation / Answer
Out 28 units sold , 15 units are from purchase made on January 11 , & 13 units are from beginning inventory .
COGS = 15 unit * $20 + 13 units * $14 = $482
Average cost per unit on January 14 = (23 units * $14 + 15 unit * $20 ) / (23 + 15 ) = $16.4
COGS = 28 units * $16.40 = $459.20
Out of 36 units in the inventory , 10 units are from purchase made on January 11 , & 26 units are from purchase made on January 20.
Inventory Value = 10 units * $20 + 26 units * $22 = $772
Out of 36 units in the inventory , 26 units are from purchase made on January 20 & 10 units are from beginning inventory .
Inventory Value = 26 units * $22 + 10 units * $14 = $712
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