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ch8exblankrev - cost flow assumptions 1 specific id method...

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Q C($) inventory beg inventory 10,000 52 Purchase #1 12,000 55 periodic perpetual system Sale # 1 10,000 225 gross method Purchase # 2 15,000 59 purchase # 1 sale #2 17,000 225 0 Purchase #3 10,000 64 0 Sale #3 7,000 225 net method 2/10, n30 beg inventory 10,000 52 Purchase #1 12,000 55 Purchase # 2 15,000 59 pay bill within 10 days Purchase #3 10,000 64 47,000 Ending inventory 13,000 bill is paid day 30 Sale No 1
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Unformatted text preview: cost flow assumptions 1. specific id method 2 FIFO 3. Weighted Average 4. LIFO periodic quantity $ total beg inventory 10,000 52 520,000 Purchase #1 12,000 55 660,000 Purchase # 2 15,000 59 885,000 Purchase #3 10,000 64 640,000 cost of goods avail for sale 47,000 2,705,000 Ending inventory 13,000 ? sold 34,000 ? ei cogsshortcut fifo weighted average LIFO...
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