Co.'s purchases and sales of a particular product during the year are shown below: Jan. 1 Beginning Inventory Jan. 18 Purchase 1,500 units @ $ 10 1,250 units @ $ 12 1,500 units @ $ 20 1,750 units @ $ 14 1,750 units @ $ 25 500 units @ $ 15 Jan 20 Sold Jan. 25 Purchase Jan. 27 Sold Jan. 29 Purchase Assuming that company uses perpetual inventory system, determine the cost of goods sold and compute the ending inventory as of Jan. 31 and make the journal entry for Jan. 27 transaction inventory subsidiary ledger for LIFO cost flow assumption. by using DATE OUT BALANCE IN Quantity Price Quantity Price Quantity Total Total Price Total Jan 1 Jan 18 Jan 20 Jan 25 Jan 27 Jan 29

Co.'s purchases and sales of a particular product during the year are shown below: Jan. 1 Beginning Inventory Jan. 18 Purchase 1,500 units @ $ 10 1,250 units @ $ 12 1,500 units @ $ 20 1,750 units @ $ 14 1,750 units @ $ 25 500 units @ $ 15 Jan 20 Sold Jan. 25 Purchase Jan. 27 Sold Jan. 29 Purchase Assuming that company uses perpetual inventory system, determine the cost of goods sold and compute the ending inventory as of Jan. 31 and make the journal entry for Jan. 27 transaction inventory subsidiary ledger for LIFO cost flow assumption. by using DATE OUT BALANCE IN Quantity Price Quantity Price Quantity Total Total Price Total Jan 1 Jan 18 Jan 20 Jan 25 Jan 27 Jan 29

Name: Co.'s purchases and sales ofa particular product during the year are
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Description: Co.'s purchases and sales ofa particular product during the year are shown below:Jan. 1 Beginning InventoryJan. 18 Purchase1,500 units @ $ 101,250 units @ $ 121,500 units @ $ 201,750 units @ $ 141,750 units @ $ 25500 units @ $ 15Jan 20 SoldJan. 25 P

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13A: Perpetual Inventory Method: Lifo And Moving-average Methods

Section: Chapter Questions

Problem 2SPA: PERPETUAL: LIFO AND MOVING-AVERAGE Kelley Company began business on January 1, 20-1. Purchases and...

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