oct21 - Michael McCormick ACG 3103 E8-17 FIFO a(1) a(2)...

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Michael McCormick ACG 3103 E8-17 FIFO a(1) Ending Inventory is $16000 a(2) Ending Inventory is $15500 LIFO b(1) Ending Inventory is $16000 b(2) Ending Inventory is $15500 E8-19 Schedules 1: FIFO (Periodic) beginning inventory 10000 @ 4 40000 purchase 1-10 8000 @ 4.2 33600 purchase 1-30 6000 @ 4.25 25500 purchase 2-11 6000 @4.3 25800 COGS $124,900.00 3000 @ 4.3 12900 11000 @ 4.4 48400 Ending Inventory $61,300.00 Schedules 2: LIFO (Periodic) purchase 3-17 11000 @4.4 48400 Purchase 2-11 9000 @4.3 38700 purchase 1-30 6000 @4.25 25500 purchase 1-10 4000 @4.2 16800 COGS $129,400.00 10000 @ 4 40000 4000 @ 4.2 16800 Ending Inventory $56,800.00 E8-26 End-of-Year Ending Inventory Price Inventory at Date (End-of-Year Prices) Index Base Year Prices 12/31/2003 70000 100 $70,000.00 12/31/2004 90300 105 $86,000.00 12/31/2005 95120 116 $82,000.00 12/31/2006 105600 120 $88,000.00 12/31/2007 100000 125 $80,000.00
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Michael McCormick ACG 3103 12/31/2007 P8-2 Accounts Net Inventory Payable Sales Initial amount
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This note was uploaded on 07/04/2011 for the course ACG 101 taught by Professor Burnett during the Spring '09 term at Edison State College.

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oct21 - Michael McCormick ACG 3103 E8-17 FIFO a(1) a(2)...

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