Business, 20.04.2020 22:09 adeline12401

Periodic and Perpetual Systems-Calculating Ending Inventory and Cost of Sales using Average Cost (Moving Average), FIFO, and LIFO Undew Inc.'s inventory records showed the following data for an item it sells regularly. Date Units Unit Cost Jan 1 Inventory 2,000 $10.00 Jan 3 Purchases 18,000 10.40 Jan 7 Sales (at $26 per unit) 7,000 Jan 20 Purchases 6,000 11.00 Jan 22 Sales (at $27 per unit) 16,000 Jan 30 Purchases 3,000 12.00
a. Assuming that Undew maintains a periodic inventory system, compute ending inventory and cost of goods sold for the month-ended January 31 using (1) average cost, (2) FIFO, and (3) LIFO. Note: Round your final answers only to the nearest dollar. Note: Do not round the cost per unit amounts in your calculations.

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 08:20, auntlynard1843

How much does a neurosurgeon can make most in canada? give me answer in candian dollar

Answers: 1

continue

Business, 22.06.2019 11:10, jordanbyrd33

Robert black, regional manager for ford in texas and oklahoma, faced a dilemma. the ford f-150 pickup truck was the best-selling pickup ever, yet ford's headquarters in detroit had decided to introduce a completely redesigned f-150. how could mr. black sell both trucks at the same time? he still had "old" f-150s in stock. in his advertising, mr. black referred to the new f-150s as follows: "not a better f-150. just the only truck good enough to be the next f-150." this statement represents ford's of the new f-150.

Answers: 2

continue

Business, 22.06.2019 14:00, ujusdied5176

Which of the following would not generally be a motive for a firm to hold inventories? a. to decouple or separate parts of the production process b. to provide a stock of goods that will provide a selection for customers c. to take advantage of quantity discounts d. to minimize holding costs e. all of the above are functions of inventory.

Answers: 1

continue

Business, 22.06.2019 18:50, gucc4836

Retirement investment advisors, inc., has just offered you an annual interest rate of 4.4 percent until you retire in 40 years. you believe that interest rates will increase over the next year and you would be offered 5 percent per year one year from today. if you plan to deposit $13,000 into the account either this year or next year, how much more will you have when you retire if you wait one year to make your deposit?

Answers: 3

continue

You know the right answer?

Periodic and Perpetual Systems-Calculating Ending Inventory and Cost of Sales using Average Cost (Mo...