Question : 136. Beginning inventory, purchases and sales data for widgets as follows: Apr : 1239796

 

136. Beginning inventory, purchases and sales data for widgets are as follows: 

 

Apr 3

Inventory

 

15 units

@

$30

 

     11

Purchase

 

12 units

@

$27

 

     14

Sale

 

18 units

 

 

 

     21

Purchase

 

7 units

@

$25

 

     25

Sale

 

10 units

 

 

 

 

 

 

 

 

 

Complete the inventory cost card assuming the business maintains a perpetual inventory system and calculates the cost of merchandise sold and ending inventory using LIFO. 

 

Purchases

Cost ofMerchandise Sold

Inventory

Date

Qty

Unit Cost

Total Cost

Qty

Unit Cost

Total Cost

Qty

Unit Cost

Total Cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

137. Beginning inventory, purchases and sales data for widgets are as follows: 

 

Apr 3

Inventory

 

15 units

@

$30

 

     11

Purchase

 

12 units

@

$27

 

     14

Sale

 

18 units

 

 

 

     21

Purchase

 

7 units

@

$25

 

     25

Sale

 

10 units

 

 

 

 

 

 

 

 

 

Complete the inventory cost card assuming the business maintains a perpetual inventory system and calculates the cost of merchandise sold and ending inventory using FIFO. 

 

Purchases

Cost ofMerchandise Sold

Inventory

Date

Qty

Unit Cost

Total Cost

Qty

Unit Cost

Total Cost

Qty

Unit Cost

Total Cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balances

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

138. The units of an item available for sale during the year were as follows: 

January 10

Inventory

27 units @ $90

February 27

Purchase

54 units @ $98

July 11

Purchase

63 units @ $106

November 13

Purchase

36 units @ $115

 

 

 

There are 50 units of the item in the physical inventory at December 31.  The periodic inventory system is used. Determine the ending inventory cost by  (a) the first-in, first-out method, (b) the last-in, first-out method, and (c) the average cost method. Show your work. 

 

 

 

 

 

139. The units of an item available for sale during the year were as follows: 

January 11

Inventory

60 units @ $145

February 27

Purchase

90 units @ $150

November 21

Purchase

75 units @ $154

 

 

 

There are 48 units of the item in the physical inventory at December 31.  The periodic inventory system is used. Determine the inventory cost by  (a) the first-in, first-out method, (b) the last-in, first-out method, and (c) the average cost method. Show your work. 

 

 

 

 

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more