10-12 The inventory transactions are as follows: Units Unit cost ExtendedValue B
ID: 2458092 • Letter: 1
Question
10-12 The inventory transactions are as follows:
Units Unit cost ExtendedValue
Beginninginventory 300 $20 $6,000
Purchases2-10-2002 400 $22 8,800
Purchases2-20-2002 200 $23 4,600
Available 900 $19,400
Sales 2-15-2002 500
EndingInventory 400
10. Using the information outlined above, what isthe value of the ending inventory for a perpetual inventory systemusing the FIFO inventory valuation?
A. $8,000.00
B. $8,200.00
C. $8,600.00
D. $8,828.55
E. $9,000.00
11. Using the information outlined above, what is the valueof the ending inventory for a perpetual inventory system using theLIFO inventory valuation?
A. $8,000.00
B. $8,200.00
C. $8,600.00
D. $8,828.55
E. $9,000.00
12 Using the information outlined above, what is the valueof the ending inventory for a perpetual inventorysystem using the weighted average inventoryvaluation? _____________
Explanation / Answer
10 . E $ 9,000 Explanation 200 * 22 4,400 200 * 23 4,600 9,000 11. B $ 8,200 Explanation 300* 20 6,000 100*22 2,200 8,200 12. $ 8,620 Explanation weighted average price 19,400/900 $ 21.55 400 * 21.55 = $ 8,620
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