Algorithmic periodic inventory by three methods the units

Reference no: EM13607930

Algorithmic) Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan.1 Inventory 5 units @ $26 Feb. 17 Purchase 10 units @ $27 Jul. 21 Purchase 20 units @ $29 Nov. 23 Purchase 20 units @ $30 There are 5 units of the item in the physical inventory of December 31. The periodic inventory system is used. Determine the inventory cost under each of the following methods. Round interim calculations and the final answer to the nearest whole dollar.

a. Determine the inventory cost by the first-in, first-out method. $

b. Determine the inventory cost by the last-in, first-out method. $ c. Determine the inventory cost by the average cost method. $

Reference no: EM13607930

Questions Cloud

Angel frank has a cumulative earnings of 87800 at the end : angel frank has a cumulative earnings of 87800 at the end of june. the first week in july she earns 1100. what is the

B smith is a manager for alve corp his earnings are subject : b. smith is a manager for alve corp. his earnings are subject to deductions for social security medicare and fit. b.

Record team adventure transactions occurring during the : tony and suzie are ready to expand great adventures even further in 2013. tony believes that many groups in the

Ethics and corporate responsibility in the workplace and : pharmacare we care about your health174 is one of the worlds most successful pharmaceutical companies enjoying a

Algorithmic periodic inventory by three methods the units : algorithmic periodic inventory by three methods the units of an item available for sale during the year were as follows

Tart companys most recent balance sheet reports total : tart companys most recent balance sheet reports total assets of 42000000 total liabilities of 16000000 and stockholders

On january 1 of year 1 drum line airways issued 3500000 of : on january 1 of year 1 drum line airways issued 3500000 of par value bonds for 3200000. the bonds pay interest

Cubby corporation entered into a lease agreement for 10 : cubby corporation entered into a lease agreement for 10 photocopy machines for its corporate headquarters. the lease

What is the theoretical basis for the accounting standard : what is the theoretical basis for the accounting standard that requires certain long-term leases to be capitalized by

User Account

All Pages