Kassim Baba Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 Purchases: September 8 September 18 100 RM3.34 450 3.50 350 3.70 A physical inventory on September 30 shows 200 units on hand. (a) Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. (b) Calculate the value of the ending inventory and cost of goods sold if the company uses weighted average inventory costing and a periodic inventory system. Round cost per unit to 2 decimal places and ending inventory and cost of goods sold to the nearest dollar.

Kassim Baba Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 Purchases: September 8 September 18 100 RM3.34 450 3.50 350 3.70 A physical inventory on September 30 shows 200 units on hand. (a) Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. (b) Calculate the value of the ending inventory and cost of goods sold if the company uses weighted average inventory costing and a periodic inventory system. Round cost per unit to 2 decimal places and ending inventory and cost of goods sold to the nearest dollar.

Name: Kassim Baba Company's inventory records show the following data for t
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Description: Kassim Baba Company's inventory records show the following data for the month ofSeptember:Unit CostUnits100Inventory, September 1Purchases: September 8September 18RM3.344503.503503.70A physical inventory on September 30 shows 200 units on hand.(a) C

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 4PB: The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are...

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