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greenyak655Lv1
28 Sep 2019
USE THE PERPETUAL METHOD FORINVENTORY.
Date
event
Number of units
Unit cost
Total cost
Dec. 1
Beg. Inventory
500
$10
$5,000
Dec. 8
purchase
600
11
6,600
Dec. 13
purchase
300
12
3,600
Dec. 15
Sale
750
Dec. 24
purchase
300
13
3,900
Dec. 28
purchase
400
15
6,000
Dec. 30
sale
650
How do you calculate Cost of goods sold and endinginventory using the weighted average, FIFO, and LIFO inventorycosting methods?
Weighted Ave. Cost
FIFO
LIFO
Ending inventory
Cost of Goods Sold
USE THE PERPETUAL METHOD FORINVENTORY.
Date | event | Number of units | Unit cost | Total cost |
Dec. 1 | Beg. Inventory | 500 | $10 | $5,000 |
Dec. 8 | purchase | 600 | 11 | 6,600 |
Dec. 13 | purchase | 300 | 12 | 3,600 |
Dec. 15 | Sale | 750 | ||
Dec. 24 | purchase | 300 | 13 | 3,900 |
Dec. 28 | purchase | 400 | 15 | 6,000 |
Dec. 30 | sale | 650 |
How do you calculate Cost of goods sold and endinginventory using the weighted average, FIFO, and LIFO inventorycosting methods?
Weighted Ave. Cost | FIFO | LIFO | |
Ending inventory | |||
Cost of Goods Sold |
Jarrod RobelLv2
28 Sep 2019