D | Question 20 31 pts Inventory Costing Methods Periodic Method The following d

Question

D | Question 20 31 pts Inventory Costing Methods Periodic Method The following data are for the Bloom Company Unit Cost $10 Units Beginning inventory, January 1200 Purchases: February 11 .. .. May 18 October 23.. Sales March1 July 1 Calculate the value of ending inventory and cost of goods sold using the periodic method and (a) first-in, first-out, (b) last-in, first- out, and (c) weighted-average cost method Round your final answers to the nearest dollar 14 400 16 100 18 400 380 Upload Choose a File No new data to save. Last checked at 10:34pm Submit Quiz

Explanation / Answer

Calculate cost of goods sold and ending inventory under following method :

13) Return on Common Stockholder's equity measure that return for common Stockholders for every amount invested in firm or company.

FIFO LIFO Weighted average Units of goods available for sale 1200 1200 1200 Cost of goods available for sale 17200 17200 17200 Ending inventory (100*18+320*16) = 6920 (200*10+220*14) = 5080 (17200/1200*420) = 6020 Cost of goods sold (17200-6920) = 10280 (17200-5080) = 12120 (17200-6020) = 11180

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