- Required Information The Following Information Applies To The Questions Displayed Below In Its First Month Of Operati 1 (87.82 KiB) Viewed 37 times
! Required information [The following information applies to the questions displayed below.] In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 180 units at $5 on January 1, (2) 510 units at $6 on January 8, and (3) 810 units at $7 on January 29. Assuming 900 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of goods sold under LIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold LIFO
Required information [The following information applies to the questions displayed below.] In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 180 units at $5 on January 1, (2) 510 units at $6 on January 8, and (3) 810 units at $7 on January 29. Assuming 900 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of goods sold under weighted average cost flow assumptions. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places.) Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold Weighted Average Cost