l TEW LTE 12:05 PM @ 10% AA 2-xythos.content.blackboardcdn.com C Directions & Honesty Cash over short Inventory Valuation Inventory Turnover 4 Points Inventory Calculations: Units Per Unit S Total Cost Beginning Inventory 9/1/20 10 10 100 Purchase 9/5/20 60 11 660 Purchase 9/15/20 Total Goods Available 50 120 12 600 1,360 The Company had 30 units left in Ending Inventory at the End of the month. Using FIFO - Compute the dollar value of Cost of Goods Sold and Ending Inventory Enter your answers in the yellow shaded boxes and show your work below. Cost of Goods Sold (in S): Ending Inventory (in S): Using WEIGHTED AVERAGE - Compute the dollar value of Cost of Goods Sold and Ending Inventory Enter your answers in the yellow shaded boxes and show your work below. Cost of Goods Sold (in $): Ending Inventory (in S): Show work:

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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l TEW LTE
12:05 PM
@ 10%
AA
2-xythos.content.blackboardcdn.com C
Directions & Honesty
Cash over short
Inventory Valuation
Inventory Turnover
4 Points
Inventory Calculations:
Units
Per Unit S
Total Cost
Beginning Inventory 9/1/20
10
10
100
Purchase 9/5/20
60
11
660
Purchase 9/15/20
Total Goods Available
50
120
12
600
1,360
The Company had 30 units left in Ending Inventory at the End of the month.
Using FIFO - Compute the dollar value of Cost of Goods Sold and Ending Inventory
Enter your answers in the yellow shaded boxes and show your work below.
Cost of Goods Sold (in S):
Ending Inventory (in $):
Using WEIGHTED AVERAGE - Compute the dollar value of Cost of Goods Sold and
Ending Inventory
Enter your answers in the yellow shaded boxes and show your work below.
Cost of Goods Sold (in $):
Ending Inventory (in S):
Show work:
Transcribed Image Text:l TEW LTE 12:05 PM @ 10% AA 2-xythos.content.blackboardcdn.com C Directions & Honesty Cash over short Inventory Valuation Inventory Turnover 4 Points Inventory Calculations: Units Per Unit S Total Cost Beginning Inventory 9/1/20 10 10 100 Purchase 9/5/20 60 11 660 Purchase 9/15/20 Total Goods Available 50 120 12 600 1,360 The Company had 30 units left in Ending Inventory at the End of the month. Using FIFO - Compute the dollar value of Cost of Goods Sold and Ending Inventory Enter your answers in the yellow shaded boxes and show your work below. Cost of Goods Sold (in S): Ending Inventory (in $): Using WEIGHTED AVERAGE - Compute the dollar value of Cost of Goods Sold and Ending Inventory Enter your answers in the yellow shaded boxes and show your work below. Cost of Goods Sold (in $): Ending Inventory (in S): Show work:
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