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Crane Trading Company uses a periodic inventory system and has a beginning inventory as of April 1 of 270 tents. This consists of 270 tents purchased in February at a cost of $450 each. During April, the company had the following purchases and sales of tents. Purchases Sales Date Units Unit Cost Units Unit Price April 3 193 $640 10 320 $490 17 370 640 24 420 510 30 320 640 640 (a1) Determine cost of goods available for sale and ending inventory in units. Cost of goods available for sale Ending inventory in units eTextbook and Media Save for Later $ Attempts: 0 of 2 used Submit Answer (a2) Determine the April cost of goods sold and the cost of the April 30 ending inventory using FIFO, LIFO, and average-cost. (Round average-cost ending inventory to 2 decimal places, e.g. 5.12 and final answers to O decimal places, e.g. 5,250.) Cost of the ending inventory $ Cost of goods sold $ FIFO $ LIFO Average-cost $ $

Crane Trading Company uses a periodic inventory system and has a beginning inventory as of April 1 of 270 tents. This consists of 270 tents purchased in February at a cost of $450 each. During April, the company had the following purchases and sales of tents. Purchases Sales Date Units Unit Cost Units Unit Price April 3 193 $640 10 320 $490 17 370 640 24 420 510 30 320 640 640 (a1) Determine cost of goods available for sale and ending inventory in units. Cost of goods available for sale Ending inventory in units eTextbook and Media Save for Later $ Attempts: 0 of 2 used Submit Answer (a2) Determine the April cost of goods sold and the cost of the April 30 ending inventory using FIFO, LIFO, and average-cost. (Round average-cost ending inventory to 2 decimal places, e.g. 5.12 and final answers to O decimal places, e.g. 5,250.) Cost of the ending inventory $ Cost of goods sold $ FIFO $ LIFO Average-cost $ $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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answer must be in table format or i will give down vote 

Crane Trading Company uses a periodic inventory system and has a beginning inventory as of April 1 of 270 tents. This consists of 270 tents purchased in February at a cost of $450 each. During April, the company had the following purchases and sales of tents. Purchases Sales Date Units Unit Cost Units Unit Price April 3 193 $640 10 320 $490 17 370 640 24 420 510 30 320 640 640 (a1) Determine cost of goods available for sale and ending inventory in units. Cost of goods available for sale Ending inventory in units eTextbook and Media Save for Later $ Attempts: 0 of 2 used Submit Answer (a2) Determine the April cost of goods sold and the cost of the April 30 ending inventory using FIFO, LIFO, and average-cost. (Round average-cost ending inventory to 2 decimal places, e.g. 5.12 and final answers to O decimal places, e.g. 5,250.) Cost of the ending inventory $ Cost of goods sold $ FIFO $ LIFO Average-cost $ $
Transcribed Image Text:Crane Trading Company uses a periodic inventory system and has a beginning inventory as of April 1 of 270 tents. This consists of 270 tents purchased in February at a cost of $450 each. During April, the company had the following purchases and sales of tents. Purchases Sales Date Units Unit Cost Units Unit Price April 3 193 $640 10 320 $490 17 370 640 24 420 510 30 320 640 640 (a1) Determine cost of goods available for sale and ending inventory in units. Cost of goods available for sale Ending inventory in units eTextbook and Media Save for Later $ Attempts: 0 of 2 used Submit Answer (a2) Determine the April cost of goods sold and the cost of the April 30 ending inventory using FIFO, LIFO, and average-cost. (Round average-cost ending inventory to 2 decimal places, e.g. 5.12 and final answers to O decimal places, e.g. 5,250.) Cost of the ending inventory $ Cost of goods sold $ FIFO $ LIFO Average-cost $ $
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