Ch07P2B - Date Units Cost Total Units Cost Total Units Cost...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Problem 7-2B Moran Company 1) Using a perpetual inventory system determine: Jan. 1 Beginning inventory 200 units @ $60 = FIFO Apr. 30 Purchases 320 units @ 58 = Purchases Sales Balance Date Units Cost Total Units Cost Total Units Cost Oct. 5 Purchases 250 units @ 50 = Sales information: Feb. 20 Sales 150 units @ $80 Oct. 10 Sales 500 units @ 80 Totals 0 $- 0 $- 0 LIFO Purchases Sales Balance
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 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 $- Total Weighted Average $- Total $-...
View Full Document

This note was uploaded on 08/22/2009 for the course ACCT 1101 taught by Professor Davescott during the Fall '05 term at Niagara College.

Page1 / 4

Ch07P2B - Date Units Cost Total Units Cost Total Units Cost...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online