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Act_6_081

# Act_6_081 - Activity#6 Part 1 During 2006 Jordon Co sold...

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Activity #6 Part 1 During 2006, Jordon & Co. sold 50,000 units of its product. The company used the periodic inventory method and freight-in cost is included in the cost per unit. The following units were on hand or purchased during the year : Units Cost per unit Total Cost Beginning inventory 10,000 15.00 150,000 Purchase 2/2/06 15,000 15.20 228,000 Purchase 6/15/06 17,000 15.60 265,200 Purchase 10/30/06 14,000 15.90 222,600 Total available 56,000 865,800 Less Sold Ending Inventory Required: Fill in the number of units sold in the above table and calculate the number of units in Ending Inventory. Calculate cost of goods sold and ending inventory for the next 3 questions, showing your work to get full credit. 1. If the company used the LIFO method, what is the value of ending inventory and cost of goods sold (show your work)? Cost of Goods Sold Ending Inventory 2. If the company used the FIFO method, what is the value of ending inventory and cost of goods sold (show your work)? Cost of Goods Sold

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Act_6_081 - Activity#6 Part 1 During 2006 Jordon Co sold...

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