Vaughn Company's record of transactions concerning part WA6 for the month of September was as follows: Purchases September 1 (balance on hand) 3 12 16 22 26 Ending inventory 300 200 @ (1) FIFO 300 @ 300 @ 500 @ 300 5150 $12.50 12.60 12.75 12.80 12.80 12.90 (2) LIFO Sales September 4 17 27 30 Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in unis only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0 decimal places, e.g. 6,548.) 5010 400 $ 600 300 200 (3) Average-cost

Vaughn Company's record of transactions concerning part WA6 for the month of September was as follows: Purchases September 1 (balance on hand) 3 12 16 22 26 Ending inventory 300 200 @ (1) FIFO 300 @ 300 @ 500 @ 300 5150 $12.50 12.60 12.75 12.80 12.80 12.90 (2) LIFO Sales September 4 17 27 30 Compute the inventory at September 30 on each of the following bases. Assume that perpetual inventory records are kept in unis only. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average-cost. (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0 decimal places, e.g. 6,548.) 5010 400 $ 600 300 200 (3) Average-cost

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 5PB

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