Ch07P2A - Sales Balance Date Units Cost Total Units Cost...

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Problem 7-2A Lukich Company 1) Using a perpetual inventory system determine: Jan. 1 Beginning inventory 300 units @ $40 = Feb. 10 Purchases 200 units @ 42 = FIFO Mar. 13 Purchases 300 units @ 39 = Purchases Sales Balance Sept. 5 Purchases 250 units @ 32 Date Units Cost Total Units Cost Total Units Cost Sales information: Feb. 20 Sales 350 units @ $80 Oct. 10 Sales 500 units @ 80 Totals 0 $- 0 $- 0 LIFO Purchases
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Unformatted text preview: Sales Balance Date Units Cost Total Units Cost Total Units Cost Totals $- $- Weighted Average Purchases Sales Balance Date Units Cost Total Units Cost Total Units Cost Totals $- $- 2) Gross profit under each method FIFO LIFO Total Revenues Cost of goods sold Gross profit 3) $- Total Weighted Average $- Total $-...
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Ch07P2A - Sales Balance Date Units Cost Total Units Cost...

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