Assuming That The Periodic Inventory Method Is Used Compute The Inventory Cost At July 31 Under Each Of The Following C 1 (51.28 KiB) Viewed 8 times
Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions. (Round answers to 0 decimal places, e.g. 6,578.) (1) FIFO. (2) LIFO. (3) Weighted-average. Ending Inventory at July 31 (1) FIFO tA (2) LIFO (3) Weighted-Average
Presented below is information related to Blowfish radios for the Whispering Company for the month of July. Date July 1 6 7 10 12 15 18 22 Transaction Units In 30 Balance Purchase Sale Sale Purchase Sale Purchase Sale 25 Purchase Sale Totals 110 880 440 330 550 2,310 Unit Cost $4.30 4.40 4.70 4.80 4.78 Total $ 473 3,872 2,068 1,584 2,629 $10,626 Units Sold 330 330 220 440 220 1,540 Selling Price $6.90 7.20 7.30 7.30 7.40 Total $2,277 2,376 1,606 3,212 1,628 $11,099
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!