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Kelley Company began business on January 1, 20-1. Purchases and sales during the month of January are shown. Date Purcha
Posted: Wed May 04, 2022 7:31 am
by answerhappygod
- Kelley Company Began Business On January 1 20 1 Purchases And Sales During The Month Of January Are Shown Date Purcha 1 (24.21 KiB) Viewed 38 times
Kelley Company began business on January 1, 20-1. Purchases and sales during the month of January are shown. Date Purchases Sales Units Units Cost/Unit Jan. 1 90 $0.90 Jan. 4 410 1.00 Jan. 5 290 Jan. 10 300 1.10 Jan. 12 210 Jan. 15 200 1.20 Jan. 18 480 1.40 Jan. 22 770 Jan. 27 120 Jan. 31 290 1.60 Required: Calculate the total amount to be assigned to cost of goods sold for January and the ending inventory on January 31, under each of the following methods. In your calculations round the average unit cost to four decimal places and answers to the nearest cent. Cost of Goods Sold Inventory on Hand 1. Perpetual LIFO inventory method 2. Perpetual moving-average inventory method $