Instructions: Calculate perpetual moving average E7.9 (LO 3) Excel (Periodic versus Perpetual Entries) Fong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company.Jan.1100 units at $5 each480 units at $8 eachInventorySalePurchaseSalePurchase150 units at $6 each120 units at $8.75 each160 units at $7 eachSale100 units at $9 eachFong Sai-Yuk uses the FIFO cost flow assumption. All purchases and sales are on account.11132027

Moving Average Method - Under the Moving Average Method, the company uses the average cost of all…

E7.9 (LO 3) Excel (Periodic versus Perpetual Entries) Fong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company. Jan. 100 units at $5 each 4 1 Inventory Sale Purchase 11 80 units at $8 each 150 units at $6 each 120 units at $8.75 each 13 Sale 20 Purchase 160 units at $7 each 27 Sale 100 units at $9 each Fong Sai-Yuk uses the FIFO cost flow assumption. All purchases and sales are on account.

E7.9 (LO 3) Excel (Periodic versus Perpetual Entries) Fong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company. Jan. 100 units at $5 each 4 1 Inventory Sale Purchase 11 80 units at $8 each 150 units at $6 each 120 units at $8.75 each 13 Sale 20 Purchase 160 units at $7 each 27 Sale 100 units at $9 each Fong Sai-Yuk uses the FIFO cost flow assumption. All purchases and sales are on account.

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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