quiz 6 - Fa09 - Name_4-Digit_Section Inventory Methods[093Q6 This quiz includes the perpetual and periodic inventory systems in connection with FIFO and

quiz 6 - Fa09 - Name_4-Digit_Section Inventory...

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Name_______________________4-Digit #_______Section____________ Inventory Methods: [093Q6] This quiz includes the perpetual and periodic inventory systems in connection with FIFO and LIFO methods only. Specifically, weighted average is not included here. The basic data are presented below for the three years covered by the example: Year 2-Year 4. There were 50 units in beginning inventory at the start of Year 2. Each of these units had a cost basis of $12 per unit. Year 2 Year 3 Year 4 Purchases Feb. 5 [email protected]$11 Feb.22 3[email protected]$14 Jun.18 [email protected]$17 Apr..13 [email protected]$12 Apr. 20 [email protected]$15 Aug.30 [email protected]$18 Oct..30 [email protected]$13 Dec.12 [email protected]$16 Sales Jan.15 [email protected]$30 Jan.15 [email protected]$33 Jul.16 [email protected]$36 Jun. 15 [email protected]$31 Jul.30

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