- Nice 365 Perpetual Inventory Using Fifo The Following Units Of A Particular Item Were Available For Sale During The Cale 1 (485.23 KiB) Viewed 46 times
- Nice 365 Perpetual Inventory Using Fifo The Following Units Of A Particular Item Were Available For Sale During The Cale 2 (392.61 KiB) Viewed 46 times
nice 365 Perpetual inventory using FIFO The following units of a particular item were available for sale during the calendar year: Inventory 3,900 units at $19 Jan. 1 Apr. 19 Sale 2,500 units S June 30 Purchase 6,500 units at $25 Sept. 2 Sale 4,300 units Nov. 15 Purchase 1,300 units at $28 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the requires analysis, and input your answers in the
question below. X Open spreadsheet The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the first-in, first-out method. Present the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column. Round your answers for quantity values to the nearest whole number, for unit cost values to the nearest cent, and for total cost values to the nearest dollar. Schedule of Cost of Goods Sold FIFO Method Inver Cost of Goods Sold Purchases 4 Bo
Date Jan. 1 Apr. 19 June 30 Sept. 2 Nov. 15 Dec. 31 Feedback Quantity 6,500 1,300 Balances Purchases Unit Cost 25 28 Total Cost 144,000 XX the nearest dollar. Total Cost Schedule of Cost of Goods Sold FIFO Method Cost of Goods Sold Quantity Unit Cost 2,500 19 4,300 X 25 4,300 X 4,300 X 825 X Quantity 3,900 1,500 X 4,500 X 4,500 X 4,300 X 1,300 1,300 Inver Unit 4,3