Given the following calculate the cost of ending inventory and goods sold using fifo. Given the following:NumberCostpurchasedper unit$ 3TotalJanuary 1 inventoryApril 135$10555June 1330457November 131550400185$1,150a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 56 units).XAnswer is complete but not entirely correct.Cost of ending inventory24448 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 56 units).X Answer is complete but not entirely correct.Cost of ending inventory2$448 Xb. Calculate the cost of goods sold using the FIFO (ending inventory shows 56 units).X Answer is complete but not entirely correct.Cost of goods sold702 X

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Description: Given the following calculate the cost of ending inventory and goods sold using fifo. Given the following:NumberCostpurchasedper unit$ 3TotalJanuary 1 inventoryApril 135$10555June 1330457November 131550400185$1,150a. Calculate the cost of ending inve

Under FIFO method i.e First in First Out method, the inventory which is purchased first will be sold…

Business

Accounting

Given the following: Number Cost purchased per unit Total January 1 inventory April 1 35 $ 3 $ 105 55 June 1 330 45 November 1 315 50 8 400 185 $1,150 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 56 units).

Given the following: Number Cost purchased per unit Total January 1 inventory April 1 35 $ 3 $ 105 55 June 1 330 45 November 1 315 50 8 400 185 $1,150 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 56 units).

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 9PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...

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Please refer to the picture below for information. Kindly show the complete solution using MS Excel or Table. Thank you so much. Question: Using Periodic system and FIFO method, and Perpetual system and FIFO Method what is the amount of inventory as of December 31, respectively.? Choices For Periodic system/FIFO Method: a. P59,000 b. P57,000 c. P61,600 d. P60,210 Choices for Perpetual System/FIFO Method: a. P59,000b. P57,000c. P61,600d. P60,210
EAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3false Beginning inventory, purchases, and sales for an inventory item are as follows: Sept. 1 Beginning Inventory 22 units @ $12 5 Sale 12 units 17 Purchase 21 units @ $13 30 Sale 19 units Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the merchandise sold for the September 30 sale ar (b) the inventory on September 30. a. Cost of merchandise sold 391 b. Inventory, September 30 %$4 537 Previous Next 3:3 5/9/