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MU Acct 2037 Ch 19 HW Solution

# MU Acct 2037 Ch 19 HW Solution - 19-15(1 Perpetual/FIFO...

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19-15 (1) Perpetual/FIFO Cost of Goods Sold  220 x \$15 = \$3,300  (from beginning inventory)  100  x \$15 =  1,500   (from beginning inventory)  320 \$4,800 Ending Inventory  = Beginning Inventory + Purchases - Cost of Goods Sold  = (400 x \$15) + [(200 x \$16) + (140 x \$17)] - \$4,800  = \$6,780 or  80 x \$15 = \$1,200  (from beginning inventory) 200 x \$16 =  3,200  (from July 6 purchase) 140  x \$17 =  2,380   (from July 21 purchase) 420 \$6,780 (2) Perpetual/LIFO Cost of Goods Sold 200 x \$16 = \$3,200  (from July 6 purchase)  20 x \$15 =    300  (from beginning inventory) 100  x \$17 =  1,700   (from July 21 purchase) 320 \$5,200 Ending Inventory  = Beginning Inventory + Purchases - Cost of Goods Sold = \$6,000 + (\$3,200 + \$2,380) - \$5,200 = \$6,380 or  40 x \$17 = \$  680  (from July 21 purchase) 380  x \$15 =  5,700   (from beginning inventory) 420 \$6,380 19-1

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19-2
19-19 (inventory as a whole)       Number of  Unit   Unit     Total    Total     (1) Item     Units     Cost   Market     Cost

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MU Acct 2037 Ch 19 HW Solution - 19-15(1 Perpetual/FIFO...

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