4:07 Chapter7Activity Q Û Name: Astry Hernandez Canales Periodic inventory by three methods; cost of merchandise sold - page 383 EX 7-13. Inventory Method a. First-in, first-out b. Last-in, first-out c. Weighted average cost Breakdown each method below: Cost of merchandise available for sale: Merchandise inventory: Cost Merchandise Inventory $59,960 Merchandise Sold $172,900 $54,100 $167,040 $56,750 $170,250 900 units at $54 $48,600 1,120 units at $55 $61,600 1,000 units at $58 $58,000 980 units at $60 $58,800 4,000 units (at average cost of $ 56.75 $ 227,000 a. First-in, first-out: Merchandise inventory: units at $ $ units at $ 1,000 units $ Merchandise sold: $227,000 $ 59,960 $167.040 b. Last-in, first-out: C. Merchandise inventory: units at $ $ units at $ 1,000 units Merchandise sold: $227,000 - $ $ $ Weighted average cost: Merchandise inventory: 1,000 units at $ Merchandise sold: $227,000 - $ A Mobile View Read Aloud $ $ B Headings
4:07 Chapter7Activity Q Û Name: Astry Hernandez Canales Periodic inventory by three methods; cost of merchandise sold - page 383 EX 7-13. Inventory Method a. First-in, first-out b. Last-in, first-out c. Weighted average cost Breakdown each method below: Cost of merchandise available for sale: Merchandise inventory: Cost Merchandise Inventory $59,960 Merchandise Sold $172,900 $54,100 $167,040 $56,750 $170,250 900 units at $54 $48,600 1,120 units at $55 $61,600 1,000 units at $58 $58,000 980 units at $60 $58,800 4,000 units (at average cost of $ 56.75 $ 227,000 a. First-in, first-out: Merchandise inventory: units at $ $ units at $ 1,000 units $ Merchandise sold: $227,000 $ 59,960 $167.040 b. Last-in, first-out: C. Merchandise inventory: units at $ $ units at $ 1,000 units Merchandise sold: $227,000 - $ $ $ Weighted average cost: Merchandise inventory: 1,000 units at $ Merchandise sold: $227,000 - $ A Mobile View Read Aloud $ $ B Headings
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 32CE: ( Appendix 6B) Inventory Costing Methods: Periodic Average Cost Refer to the information for...
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