Exercise 8.7 (Algo) Costing Inventory in a Periodic System (LO 8-4)Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filterson January 1 and the purchases of this item during the current year to be as follows.Jan. 1Feb. 23Apr. 201May 4Nov. 30Beginning inventoryPurchasePurchasePurchasePurchaseTotalsa. Average costb. FIFOC. LIFOA physical count indicates 24 units in inventory at year-end.Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Rememberto use periodic inventory costing procedures.) (Round your intermediate and final answers to 2 decimal places.)13 units@ $3.00 $ 39.0016 units@ $3.5056.0028 units@ $3.80106.40140.0035 units@ $4.0019 units@ $5.00111 units95.00$436.40EndingInventory

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Description: Exercise 8.7 (Algo) Costing Inventory in a Periodic System (LO 8-4)Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filterson January 1 and the purchases of this item during the current

Answer :Average costing : Date Purchase Cost of good sold Inventory unit unit…

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uses a periodic inventory system. The the purchases of this item during the c Beginning inventory Purchase. Purchase Purchase 13 uni 16 unit 28 uni 35 unit

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 11E: Alternative Inventory Methods Nevens Company uses a periodic inventory system. During November, the...

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