second times posting same question please do not give me wrong anser complete al
ID: 2551263 • Letter: S
Question
second times posting same question please do not give me wrong anser complete all parts
Dymac Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, purchases invoices during the next 12 months, and the inventory count at December 31 are summarized as follows:
Required:
1. Determine the cost of the inventory on December 31 by the first-in, first-out method.
If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. If units are in inventory at two different costs, enter the units PURCHASED MOST RECENTLY first.
2. Determine the cost of the inventory on December 31 by the last-in, first-out method.
If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. If units are in inventory at two different costs, enter the OLDEST units first.
3. Determine the cost of the inventory on December 31 by the weighted average cost method.
Purchases Invoices Model Inventory,January 1 1st 2nd 3rd Inventory Count,
December 31 A10 __ 4 at $ 30 4 at $ 33 4 at $ 36 5 B15 8 at $ 91 4 at 82 3 at 88 6 at 95 7 E60 3 at 69 3 at 59 15 at 62 9 at 64 5 G83 7 at 214 6 at 222 5 at 232 10 at 231 9 J34 12 at 57 10 at 59 16 at 66 16 at 67 13 M90 2 at 108 2 at 110 3 at 128 3 at 130 5 Q70 5 at 156 4 at 166 4 at 171 7 at 176 8
Explanation / Answer
COST OF INVENTORY -FIFO METHOD MODEL QUANTITY UNIT COST TOTAL COST A10 4 36 144 A10 1 33 33 B15 6 95 570 B15 1 88 88 E60 5 64 320 G83 9 231 2079 J34 13 67 871 M90 3 130 390 M90 2 128 256 Q70 7 176 1232 Q70 1 171 171 TOTAL 6154 COST OF INVENTORY -LIFO METHOD MODEL QUANTITY UNIT COST TOTAL COST A10 4 30 120 A10 1 33 33 B15 7 91 637 E60 3 69 207 E60 2 59 118 G83 7 214 1498 G83 2 222 444 J34 12 57 684 J34 1 59 59 M90 2 108 216 M90 3 110 330 Q70 5 156 780 Q70 3 166 498 TOTAL 5624 COST OF INVENTORY -LIFO METHOD MODEL QUANTITY UNIT COST TOTAL COST A10 5 33 165 b 15 7 90 630 E60 5 63 315 G83 9 225 2025 J34 13 63 819 M90 5 121 605 Q70 8 168 1344 Total cost 5903
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