Jack Company began the accounting period with inventory of 3,000 units at $30 each. During the period, the company purchased an additional 5,000...
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Question

Select one:


a. $120,000.

b. None of

these.

c. $122,400.

d. $147,600.

e. $104,400.

2.Jack Company began the accounting period with inventory of 3,000 units at $30 each. During the period, the company purchased an additional 5,000 units at $36 each and sold 4,600 units. Assume the use of periodic inventory procedure. Cost of goods sold using FIFO is:

Select one:

a. None of these.

b. $165,600.

c. $147,600.

d. $150,000.

e. $122,400.

Jack Company began the accounting period with inventory of 3,000 units at $30 each. During the period, the company purchased an additional 5,000 units at $36 each and sold 4,600 units. Assume the use of periodic inventory procedure. Cost of ending inventory using LIFO is:

Select one:

a. $114,750.

b. None of these.

c. $156,000.

d. $122,400.

e. $104,400.

Jack Company began the accounting period with inventory of 3,000 units at $30 each. During the period, the company purchased an additional 5,000 units at $36 each and sold 4,600 units. Assume the use of periodic inventory procedure. Cost of goods sold using LIFO is:

Select one:

a. $114,000.

b. None of these.

c. $155,250.

d. $165,600.

e. $147,600.

Top Answer

Here's the explanation you needed for... View the full answer

15740914320835319048388932964372.jpg

Opening
3000 X 30
Purchase
5000 x 36
sold
4 600
Closing Inventory on FIFO Ban's :
Opening
3000 *
Pruchase Sooo
sold
( 3000 )
sold
( 1600 ) L
4600
3000)
Closing
0 thits
34 0ol units
Closing...

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