Please don't give image based answer ..thanku Inventories and purchases for the month of June for Morrison Ltd are as follows:UnitsCost per unit9 500$144,500$168,500$188 000Date1- June10- JuneDetailBeginning inventoryPurchase25-JunePurchase31-June Ending inventoryRequired:Determine the cost of ending inventory and cost of sales for the month of June based on theperiodic inventory system, under the following cost flow assumptions:a) FIFOb) Weighted AverageAnswers:a)h)

The inventory can be valued using various methods as FIFO, LIFO and average method. Using FIFO…

Inventories and purchases for the month of June for Morrison Ltd are as follows: Cost per unit $14 $16 $18 Date 1- June 10- June Detail Beginning inventory Purchase Purchase 25-June 31-June Ending inventory Units 9 500 4,500 8,500 8 000 Required: Determine the cost of ending inventory and cost of sales for the month of June based on the periodic inventory system, under the following cost flow assumptions: a) FIFO b) Weighted Average

Inventories and purchases for the month of June for Morrison Ltd are as follows: Cost per unit $14 $16 $18 Date 1- June 10- June Detail Beginning inventory Purchase Purchase 25-June 31-June Ending inventory Units 9 500 4,500 8,500 8 000 Required: Determine the cost of ending inventory and cost of sales for the month of June based on the periodic inventory system, under the following cost flow assumptions: a) FIFO b) Weighted Average

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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