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Periodic inventory system * Date Description Units Unit cost July 01 July 18 Beginning inventory Total cost $20 $10,000 purchased 800 $24 $19,200 July 25 Aug 8 purchased 700 $26 $18,200 purchased T$23 $21 500 $11,500 Sept. 5 Oct. 30 purchased 200 $4,200 purchased 375 $24.75 $9281.25 Nov. 8 purchased 100 $23.50 $2,350 $937.50 Dec. 20 purchased 50 $18.75 3,225. Ending inventory 75 units. Complete a periodic FIFO, LIFO, and Average Cdst 75,668 LIFO FIFO

Periodic inventory system * Date Description Units Unit cost July 01 July 18 Beginning inventory Total cost $20 $10,000 purchased 800 $24 $19,200 July 25 Aug 8 purchased 700 $26 $18,200 purchased T$23 $21 500 $11,500 Sept. 5 Oct. 30 purchased 200 $4,200 purchased 375 $24.75 $9281.25 Nov. 8 purchased 100 $23.50 $2,350 $937.50 Dec. 20 purchased 50 $18.75 3,225. Ending inventory 75 units. Complete a periodic FIFO, LIFO, and Average Cdst 75,668 LIFO FIFO

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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What is peridocznym fifo and lifo

Periodic inventory system * Date Description Units Unit cost July 01 July 18 Beginning inventory Total cost $20 $10,000 purchased 800 $24 $19,200 July 25 Aug 8 purchased 700 $26 $18,200 purchased T$23 $21 500 $11,500 Sept. 5 Oct. 30 purchased 200 $4,200 purchased 375 $24.75 $9281.25 Nov. 8 purchased 100 $23.50 $2,350 $937.50 Dec. 20 purchased 50 $18.75 3,225. Ending inventory 75 units. Complete a periodic FIFO, LIFO, and Average Cdst 75,668 LIFO FIFO
Transcribed Image Text:Periodic inventory system * Date Description Units Unit cost July 01 July 18 Beginning inventory Total cost $20 $10,000 purchased 800 $24 $19,200 July 25 Aug 8 purchased 700 $26 $18,200 purchased T$23 $21 500 $11,500 Sept. 5 Oct. 30 purchased 200 $4,200 purchased 375 $24.75 $9281.25 Nov. 8 purchased 100 $23.50 $2,350 $937.50 Dec. 20 purchased 50 $18.75 3,225. Ending inventory 75 units. Complete a periodic FIFO, LIFO, and Average Cdst 75,668 LIFO FIFO
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