ButovaS_Exam_6-9 - Name Svetlana Butova This is the packet...

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Name Svetlana Butova This is the packet for Form A. Using the information from the exam packet. Show your computations. 9 Points 1. Assume that the company uses the Fifo method. The value of the of the ending inventory on December 31 is $__ 2,750 50 x $7 = $350 300 x $8 = $2,400 $2,400 + $350 =$2,750 2. Assume that the company uses the Average Cost Method method. The value of the of the ending inventory on December 31 is 2,170 $6,200 / 1,000 = $6.20 $6.20 x 350 = $2,170 3. Assume that the company uses the LIFO method. The value of the of the ending inventory on December 31 is $__ 1,650 100 x $4 = $400 250 x $5 = $1,250 $1,250 + $400 = $1,650
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488 Problem 2 12 points (a) Bank Reconciliation September 30, Cash balanse per bank statement $7,000 Add: Deposit in transit 5,200 12,200 Less: Outstanding checks 6,000 Adjusted balance per bank $6,200 Cash dalanse per books $5,459 Add: Collection on customer's note $1,200, pluss interest earned $60 $1,260 Error in recording check #138 81 1,341 6,800
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ButovaS_Exam_6-9 - Name Svetlana Butova This is the packet...

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