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It says the answer is complete but not correct . Can you tell me the right answers

It says the answer is complete but not correct . Can you tell me the right answers

Financial And Managerial Accounting
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 2PB: LIFO perpetual inventory The beginning inventory for Dunne Co. and data on purchases and sales for a...
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It says the answer is complete but not correct . Can you tell me the right answers
Required information [The following information applies to the questions displayed below.] A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 430 units. Ending inventory at January 31 totals 170 units. Units Unit Cost $ 3.80 Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 390 90 4.00 120 4.10 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. X Answer is complete but not Perpetual FIFO: Cost of Goods Sold Goods purchased Cost Cost Date # of units Cost of # of units per per sold Goods Sold unit unit January 1 90 O at $ 4.00 O January 9 Total January 9 120 at $ 4.10 O January 25 Total January 25 390 O at $ 3.80 1,482.00 January 26 40 at $ 4.00 160.00 %3D = 430 x at $ 4.10 1,763.00 Total January 2$ 26 3.405.00
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 430 units. Ending inventory at January 31 totals 170 units. Units Unit Cost $ 3.80 Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 390 90 4.00 120 4.10 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. X Answer is complete but not Perpetual FIFO: Cost of Goods Sold Goods purchased Cost Cost Date # of units Cost of # of units per per sold Goods Sold unit unit January 1 90 O at $ 4.00 O January 9 Total January 9 120 at $ 4.10 O January 25 Total January 25 390 O at $ 3.80 1,482.00 January 26 40 at $ 4.00 160.00 %3D = 430 x at $ 4.10 1,763.00 Total January 2$ 26 3.405.00
s to the questions beginning inventory and anuary. On January 26, the inventory at January 31 Units Unit Cost $ 3.80 4.00 390 90 120 4.10 / system is used. Determine ventory when costs are ethod. X Answer is complete but not entirely correct. Perpetual FIFO: Cost of Goods Sold Inventory Balance Cost Cost Inventory Balance # of units Cost of # of units per unit per sold Goods Sold unit 390 O at $ 3.80 1,482.00 390 O at $ 3.80 1,482.00 90 V at $ 4.00 360.00 $ 1,842.00 390 O at $ 3.80 1,482.00 90 O at $ 4.00 360.00 120 at $ 4.10 492.00 2,334.00 $ 1,482.00 50 8 at 390 O at $ 3.80 $ 3.80 190.00 %3D $ 4.00 $ 4.00 at 430 X at 40 160.00 120 X at 480.00 %3D $ 4.10 1,763.00 170 X at $ 4.10 697.00 $ 3,405.00 1,367.00
Transcribed Image Text:s to the questions beginning inventory and anuary. On January 26, the inventory at January 31 Units Unit Cost $ 3.80 4.00 390 90 120 4.10 / system is used. Determine ventory when costs are ethod. X Answer is complete but not entirely correct. Perpetual FIFO: Cost of Goods Sold Inventory Balance Cost Cost Inventory Balance # of units Cost of # of units per unit per sold Goods Sold unit 390 O at $ 3.80 1,482.00 390 O at $ 3.80 1,482.00 90 V at $ 4.00 360.00 $ 1,842.00 390 O at $ 3.80 1,482.00 90 O at $ 4.00 360.00 120 at $ 4.10 492.00 2,334.00 $ 1,482.00 50 8 at 390 O at $ 3.80 $ 3.80 190.00 %3D $ 4.00 $ 4.00 at 430 X at 40 160.00 120 X at 480.00 %3D $ 4.10 1,763.00 170 X at $ 4.10 697.00 $ 3,405.00 1,367.00
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