A company had the following purchases and sales during itsfirst year of operations:Purchases…
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Question “A company had the following purchases and sales during itsfirst year of operations:Purchases…”
A company had the following purchases and sales during its
first year of operations:
Purchases | Sales | |
January: | 10 units at $120 | 6 units |
February: | 20 units at $125 | 5 units |
May: | 15 units at $130 | 9 units |
September: | 12 units at $135 | 8 units |
November | 10 units at $140 | 13 units |
On December 31, there were 26 units remaining in ending
inventory. Using the PERPETUAL LIFO inventory
valuation method, what is the cost of the ending inventory? (Assume
all sales were made on the last day of the month.)
A) $3,405
B)$3,270
C)$3,364
D)$5,400
On December 31, there were 26 units remaining in ending
inventory. Using the PERIODIC LIFO inventory
valuation method, what is the cost of the ending inventory? (Assume
all sales were made on the last day of the month.)
A)$3,405
B)$3,270
C)$3,200
D)$3,364
E)$5,400
On December 31, there were 26 units remaining in ending
inventory. Using the PERPETUAL FIFO inventory
valuation method, what is the value of cost of goods sold? (Assume
all sales were made on the last day of the month.)
A)$8,670
B)$3,540
C)$5,400
D)$5,130
E)$3,270
On December 31, there were 26 units remaining in ending
inventory. Using the PERPETUAL LIFO inventory
valuation method, what is the value of cost of goods sold? (Assume
all sales were made on the last day of the month.)
A)$8,670
B)$5,400
C)$5,470
D)$5,130
E)$5,305
On December 31, there were 26 units remaining in ending
inventory. Using the PERIODIC LIFO inventory
valuation method, what is the value of cost of goods sold? (Assume
all sales were made on the last day of the month.)
A)$8,670
B)$5,400
C)$5,470
D)$3,200
E)$5,130
Answer
Conclusion
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