A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 420 units. Ending inventory at January 31 totals 170 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Cost of Goods Available for Sale Cost of Goods Cost per Units 380 90 120 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. (Round your per unit costs to 2 decimal places.) #of Unit Cost $ 3.70 3.90 4.00 Periodic LIFQ Cost of Goods Sold of units Cost par Cost of Inventory Balance # of units

A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 420 units. Ending inventory at January 31 totals 170 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Cost of Goods Available for Sale Cost of Goods Cost per Units 380 90 120 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the LIFO method. (Round your per unit costs to 2 decimal places.) #of Unit Cost $ 3.70 3.90 4.00 Periodic LIFQ Cost of Goods Sold of units Cost par Cost of Inventory Balance # of units

Name: A company reports the following beginning inventory and two purchases
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Description: A company reports the following beginning inventory and two purchases for the month of January. On January 26, thecompany sells 420 units. Ending inventory at January 31 totals 170 units.Beginning inventory on January 1Purchase on January 9Purchase

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13: Accounting For Merchandise Inventory

Section: Chapter Questions

Problem 1MP: Hurst Companys beginning inventory and purchases during the fiscal year ended December 31, 20-2,...

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