Date Explanation Units available for sale Unit Cost Total Cost
Dec. 1 Inventory 30 $100 $ 3,000
Dec. 12 Purchases 50 $103 $ 5,150
Dec. 25 Purchases 20 $99 $ 1,980
  Total 100   $10,130

 

Instructions

 

1. Show computations to value the ending inventory and the cost of goods sold using the FIFO method if 90 units were sold and 10 units remain on hand at December 31. (2 marks)

2. Show computations to value the ending inventory and the cost of goods sold using the LIFO method if 90 units were sold and 10 units remain on hand at December 31. (2 marks)

3. Show computations to value the ending inventory and the cost of goods sold using the Average weight method if 90 units were sold and 10 units remain on hand at December 31

Found something interesting ?

• On-time delivery guarantee
• PhD-level professional writers
• Free Plagiarism Report

• 100% money-back guarantee
• Absolute Privacy & Confidentiality
• High Quality custom-written papers

Related Model Questions

Feel free to peruse our college and university model questions. If any our our assignment tasks interests you, click to place your order. Every paper is written by our professional essay writers from scratch to avoid plagiarism. We guarantee highest quality of work besides delivering your paper on time.

Grab your Discount!

25% Coupon Code: SAVE25
get 25% !!