hi i only need answer thx no need to show wrk Required information [The...
50.1K
Verified Solution
Link Copied!
Question
Accounting
hi i only need answer thx no need to show wrk
Required information [The following information applies to the questions displayed below.] Ferris Company began January with 4.000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Unit Cost Units 3,600 Date of Purchase Jan. 10 Jan. 18 Totals 4.ee 9 Total Cost $24.ee 36,eee 68,eee 7.ee Includes purchase price and cost of freight Sales Date of Sale Jan. 5 Jan. 12 Jan. 20 Total Units 2,600 1,000 3.ee 6.ee 5.000 units were on hand at the end of the month. Required: 1. Calculate January's ending Inventory and cost of goods sold for the month using FIFO, periodic system. Cost of Goods Sold - Periodic FIFO FIFO Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale 4,000 $ 7.00 $ 28,000 # of units sold Cost per Ending Inventory - Periodic FIFO # of units Cost per Ending in ending unit Inventory inventory $ 7.00 Cost of Goods Sold unit $ 7.00 Beginning Inventory Purchases: January 10 January 18 Tota $ S 3,000 $ 8.00 4,000 $ 9.00 11,000 24,000 38,000 88,000 8.00 9.00 8.00 9.00 $ $
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!
