Perpetual Inventory Using FIFO Beginning inventory, purchases, a

Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: June 1   Inventory 64 units @ $95 6   Sale 52 units 14   Purchase 38 units @ $101 19   Sale 21 units 25   Sale 21 units 30   Purchase 35 units @ $108 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3.   Hide     a.  Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column. Cost of the Merchandise Sold Schedule First-in, First-out Method Portable DVD Players Date   Quantity Purchased   Purchases Unit Cost   Purchases Total Cost   Quantity Sold   Cost of Merchandise Sold Unit Cost   Cost of Merchandise Sold Total Cost   Inventory Quantity   Inventory Unit Cost   Inventory Total Cost June 1                           64   $ 95   $ 6,080 June 6               [removed]   $ [removed]   $ [removed]   [removed]   [removed]   [removed] June 14   [removed]   $ [removed]   $ [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 19               [removed]   [removed]   [removed]   [removed]   [removed]   [removed]                 [removed]   [removed]   [removed]             June 25               [removed]   [removed]   [removed]   [removed]   [removed]   [removed] June 30   [removed]   [removed]   [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 30   Balances                   $ [removed]           $ [removed]     Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: June 1   Inventory 43 units @ $53 6   Sale 33 units 14   Purchase 58 units @ $55 19   Sale 32 units 25   Sale 9 units 30   Purchase 33 units @ $58 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4.   Hide     Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column. Schedule of Cost of Merchandise Sold LIFO Method Portable DVD Players Date   Quantity Purchased   Purchases Unit Cost   Purchases Total Cost   Quantity Sold   Cost of Merchandise Sold Unit Cost   Cost of Merchandise Sold Total Cost   Inventory Quantity   Inventory Unit Cost   Inventory Total Cost June 1                           43   $ 53   $ 2,279 June 6               [removed]   $ [removed]   $ [removed]   [removed]   [removed]   [removed] June 14   [removed]   $ [removed]   $ [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 19               [removed]   [removed]   [removed]   [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 25               [removed]   [removed]   [removed]   [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 30   [removed]   [removed]   [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] June 30   Balance                   $ [removed]           $ [removed]           Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for prepaid cell phones for July are as follows: Inventory   Purchases   Sales   July 1 3,600 units at $30 July 10 1,800 units at $32 July 12 2,520 units     July 20 1,620 units at $34 July 14 2,160 units         July 31 1,080 units   Hide     a.  Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory balance after each sale. Schedule of Cost of Merchandise Sold LIFO Method Prepaid Cell Phones Date   Quantity Purchased   Purchases Unit Cost   Purchases Total Cost   Quantity Sold   Cost of Merchandise Sold Unit Cost   Cost of Merchandise Sold Total Cost   Inventory Quantity   Inventory Unit Cost   Inventory Total Cost July 1                           3,600   $ 30   $ 108,000 July 10   [removed]   $ [removed]   $ [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] July 12               [removed]   $ [removed]   $ [removed]   [removed]   [removed]   [removed]                 [removed]   [removed]   [removed]             July 14               [removed]   [removed]   [removed]   [removed]   [removed]   [removed] July 20   [removed]   [removed]   [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] July 31               [removed]   [removed]   [removed]   [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] July 31   Balances                   $ [removed]           $ [removed]         Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for prepaid cell phones for August are as follows: Inventory   Purchases   Sales   August 1 2,100 units at $39 August 10 1,050 units at $41 August 12 1,470 units     August 20 945 units at $43 August 14 1,260 units         August 31 630 units   Hide     Assuming that the perpetual inventory system is used, costing by the FIFO method, determine the cost of the merchandise sold for each sale and the inventory balance after each sale. Schedule of Cost of Merchandise Sold FIFO Method Prepaid Cell Phones Date   Purchases Quantity   Purchases Unit Cost   Purchases Total Cost   Cost of Merchandise Sold Quantity   Cost of Merchandise Sold Unit Cost   Cost of Merchandise Sold Total Cost   Inventory Quantity   Inventory Unit Cost   Inventory Total Cost Aug. 1                           2,100   $ 39   $ 81,900 Aug. 10   [removed]   $ [removed]   $ [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] Aug.12               [removed]   $ [removed]   $ [removed]   [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] Aug. 14               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed]   [removed]   [removed]   [removed] Aug. 20   [removed]   [removed]   [removed]               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed] Aug. 31               [removed]   [removed]   [removed]                             [removed]   [removed]   [removed]   [removed]   [removed]   [removed] Aug. 31   Balances                   $ [removed]           $ [removed]         FIFO and LIFO Costs Under Perpetual Inventory System The following units of a particular item were available for sale during the year: Beginning inventory 21 units @ $41 Sale 13 units @ $66 First purchase 22 units @ $43 Sale 21 units @ $68 Second purchase 24 units @ $44 Sale 11 units @ $70 The firm uses the perpetual inventory system, and there are 22 units of the item on hand at the end of the year. a.  What is the total cost of the ending inventory according to FIFO? $[removed] b.  What is the total cost of the ending inventory according to LIFO? $[removed]

Online Custom Essay

Cost of your order

Pages
{{total || ""}}

Why Choose Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

Customer Support 24/7

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Services

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission and Business Papers

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Editing

Editing and Proofreading

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Coursework

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.

eskort eskişehir - adana eskort - escort - izmit eskort - mersin eskorteskort eskişehir - adana eskort - escort - izmit eskort - mersin eskort