The following units of an item were available for sale during the year: Beginning inventory 45 units at $44 Sale 25 units at $68 First purchase 40 units at $46 Sale 48 units at $69 Second purchase 29 units at $48 Sale 6 units at $71 The firm uses the perpetual inventory system, and there are 35 units of the item on hand at the end of the year. a.  What is the total cost of the ending inventory according to FIFO?$ b.  What is the total cost of the ending inventory according to LIFO?$

Haynes Company uses the perpetual inventory system. The following information is available for the month the March. March 1 Beginning Inventory 10 units at $2 for $20, March 4 Sold 8 units, March 22 Purchased 50 units at $4 for $200, March 26 Sold 48 units. If Haynes Company uses the LIFO inventory costing method, what is the balance in Ending Inventory at March 31?   A. $40 B. $16 C. $12 D. $8

Sales during the year were 700 units. Beginning Inventory was 400 units at a cost of $10 per unit. Purchase 1 was 500 units at $12 per unit. Purchase 2 was 300 units at $14 per unit. Required: a. Assume the periodic inventory system is used. Calculate cost of goods sold and ending Inventory using FIFO method. (Enter all values as a positive value.) Periodic FIFO Beg. Inventory Purchases: Purchase 1 Purchase 2 Total Periodic LIFO Beg. Inventory Purchases: Purchase 1 Purchase 2 Cost of Goods Available for Sale Cost of Goods Available for Sale Total # of units Cost per unit Cost of Goods Available for Sale Cost of Goods Available for Sale # of units b. Assume the periodic Inventory system is used. Calculate cost of goods sold and ending Inventory using LIFO method. (Enter all values as a positive value.) Cost of Goods Sold Cost per unit Cost per unit # of units sold Cost of Goods Sold Cost of Goods Sold Cost per unit # of units sold Inventory Balance Cost per unit Cost of Goods Sold # of…

The following units of a particular item were availlable for sale during the calendar year: Jan. 1 Inventory 4,100 units at $39 Apr. 19 Sale 2,300 units June 30 Purchase 4,500 units at $43 Sept. 2 Sale 5,200 units Nav. 15 Purchase 2,100 units at $46 The firm maintains a perpetual inventory system. Determine the cost of goods ssold for each sale and the inventory balance after each sale, assuming the last-in, first-out method. Present the illustrated in Exhibit 4. Under LIFO, if units are in inventory at two or more different costs, enter the units with the LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Goods Sold LIFO Method Cost of Goods Sold Inventory Purchases Quantity Total Cos Quantity Unit Cost Total Cost Unit Cost Unit Cost Total Cost Quantity Date Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Dec. 31 Balances