Show Attempt History Current Attempt in Progress Pronghorn Corp uses a periodic inventory system and reports the following for the month of June. Date June 1 12 23 30 Explanation Inventory Purchases Purchases Inventory Units eTextbook and Media 120 Your answer is incorrect. 320 The cost of the ending inventory 200 Weighted-average unit cost $ The cost of goods sold 240 eTextbook and Media - Your answer is partially correct. Unit Cost Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $ $5 $ 6 7 Total Cost Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to O decimal places, eg. 125.) $600 1,920 FIFO 1,400 6.125 3920 2340 $ LIFO MacBook Air 1320 2600 $ $ Average-cost 1567.92 2352.08
Show Attempt History Current Attempt in Progress Pronghorn Corp uses a periodic inventory system and reports the following for the month of June. Date June 1 12 23 30 Explanation Inventory Purchases Purchases Inventory Units eTextbook and Media 120 Your answer is incorrect. 320 The cost of the ending inventory 200 Weighted-average unit cost $ The cost of goods sold 240 eTextbook and Media - Your answer is partially correct. Unit Cost Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) $ $5 $ 6 7 Total Cost Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to O decimal places, eg. 125.) $600 1,920 FIFO 1,400 6.125 3920 2340 $ LIFO MacBook Air 1320 2600 $ $ Average-cost 1567.92 2352.08
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 11E: Alternative Inventory Methods Nevens Company uses a periodic inventory system. During November, the...
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