answer these 3 please Perpetual Inventory Using FIFO...

60.1K

Verified Solution

Question

Accounting

answer these 3 please
image
image
image
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta 9 are as follows: Oct. 1 Inventory 70 units @ $22 7 Sale 55 units 15 Purchase 47 units @ $23 24 Sale 21 units Assuming a perpetual Inventory system and using the first-In, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31. 3. Cost of goods sold on October 24 b. Inventory on October 31 Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: July 1 Inventory 98 units @ $25 Sale 78 units 15 Purchase 109 units @ $27 27 Sale 92 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on July 27 and (b) the inventory on July 31. a. Cost of goods sold on July 27 b. Inventory on July 31 Perpetual Inventory Using Weighted Average Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 340 units at $11 13 Sale 180 units 22 Purchase 340 units at $12 29 Sale 400 units a. Assuming a perpetual Inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places, per unit b. Assuming a perpetual Inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal places. c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students