14 mar 15 mar 30 jul 5 oct 26 oct totals determine

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14-Mar15-Mar30-Jul5-Oct26-OctTotalsDetermine the costs assigned to ending inventory and to cost of goods sold usinPerpetual LIFO:Goods PurchasedCost of Goods SoldDate# of units1-Jan10-Jan14-Mar15-Mar30-Jul5-Oct
26-OctTotalsCompute the gross margin for FIFO method and LIFO method.
Units Acquired at CostUnits Sold at Reunits@ $10.80=$2,376190 unitsunits@ $15.80=5,214280 unitsunits@ $20.80=8,736390 unitsunits@ $25.80=3,096units$19,422860 unitsng FIFO.Inventory BalanceCost per unit# of units sold# of unitsCost per unit220 @Cost per unitCost of Goods SoldInventory Balance
$14,038.00 ng LIFO.Inventory BalanceCost per unit# of units sold# of unitsCost per unitCost per unitCost of Goods SoldInventory Balance
etail$10.80 =$2,376.00 @ $40.80@ $40.80@ $40.80
Use the following information for the Exercises below.[The following information applies to the questions displayed below.]Hemming Co. reported the following current-year purchases and sales for its only product.DateActivitiesUJan.1Beginning inventory300Jan.10SalesMar.14Purchase520Mar.15SalesJuly30Purchase500Oct.5SalesOct.26Purchase200Totals1,520Hemming uses a perpetual inventory system.Determine the costs assigned to ending inventory and to cost of goods sold usinPerpetual FIFO:Goods PurchasedCost of Goods SoldDate# of units1-JanJan. 1

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