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Ext] 1. Transactions for the month of June were: Thusaetions forthemonth oqune wae: ushes-s June 1. (balm) 400 @ $3.20 June 2 300 @ $5.50 3 1,[email protected]

1. Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is?


 a. $1,900.


 b. $1,920.


 c. $1,970.


 d. $2,065

 

 e. None of the above


2. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is


 a. $1,900.


 b. $1,920.


 c. $1,970.


 d. $2,065.

 

 e. None of the above


 3. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is


 a. $1,900.


 b. $1,920.


 c. $2,065.


 d. $2,100.

 

 e. None of the above


(250x3.50) + (400x3.40) = 2,235



 4. Assuming that perpetual inventory records are kept in units only, the ending inventory on an  average -cost basis, rounded to the nearest dollar, is


 a. $1,980.


 b. $1,956.


 c. $1,970.


 d. $1,995

 

 e. None of the aboveScreen Shot 2018-06-04 at 3.11.30 pm.png

Screen Shot 2018-06-04 at 3.11.30 pm.png

Ext] 1. Transactions for the month of June were: Thusaetions forthemonth oqune wae: flushes-s
June 1. (balm) 400 @ $3.20 June 2 300 @ $5.50
3 1,[email protected] 3.10 6 [email protected] 5.50
7 [email protected] 3.30 9 [email protected] 5.50
15 900 @ 3.40 10 200 @ 6.00
22 [email protected] 3.50 13 [email protected] 6.00
2.5 150 @ 6.00 1. Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is?
a. $1,900.
b. $1,920.
c. $1,970.
d. $2,055 e. None of the above 2. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is a $1,900.
b. $1,920.
6. $1,970.
d. $2,055. e. None of the above 3. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is a $1,900. b. $1,920. c. $2,065. d. $2,100. e. None of the above (2511:3511) + (400x3.40) : 2,235 4. Assuming that perpetual inventory records are kept in units only, the ending inventory on an,
game-cost basis, rounded to the nearest dollar, is
a $1,980. b. 5 1 , 95 6. c. $1,970. d. $1,995 e. None of the above

Top Answer

Answer is c. $1,970 Answer... View the full answer

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