Introduction to financial accounting Here is reviews for the exam The...
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Accounting
Introduction to financial accounting
Here is reviews for the exam
The problem that I don't know where are the mistakes in papers and there are no solutions for some questions could you please do it for me please
Plump Turkey Inc. uses the PERIODIC inventory method. method. Consider the following: Unit UnitCost Beginning inventory November 4 November 15 November 25 60 S24.00 1440 120 $26.00 3120 100 $27.00 70 $29.00 50 270 units were sold during the month at a $40 per unit sales price. November 30 was counted and had 80 units. Round all per unit sales price. Ending inventory on all calculations to the nearest cent. NOTE: No points will be earned unless you inventory layers, the number of units in each layer a show all calculations including the ending nd the cost assigned to each anit. 1. Compute Gross profit using FIFO 2. Compute Ending Inventory using LIFO 60 X 24, . oo= 14-to 70x 26.00 % 520 1960 3. Compute Cost of Goods Sold using Average Cost. In calculating unit cost, round to the nearest cent. (2 decimal places) 92 %-- 26, 54 rerun 3 50 2 6 54 x 27 7165 11 Circle the method that results in the lowest income tax expense for the month for Plump 4. Circle the FIFO IFO average 2
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