View Tell me what you want to .o.. Formulas DataReview Insert Page Layout ? , Wr

Question

View Tell me what you want to .o.. Formulas DataReview Insert Page Layout ? , Wrap Text General ?Merge & Center s-% , s: a Condition e Copy ?? ?- Blu..E-2.A. Formatting Paste Format Parnter Number Alignment Font Clipboard K12 1 Business Finance 2 Perpetual Inventory System "When you finish this one, don't forget to do the periodic inventory practice problem on the other tab* Practice Problem Sandpiper LLC, is a small wholesaler of running shoes. The accounting records show the following purchases and sales of the Trail Running model during the first year of business Purchases 10$ 50 65 Sales 9 Date Units 10 Jan 10 11 Feb 15 12 July 3 13 Nov 1 Cost Total Cost 500 525,200 3,575 2,030 $ 11,305 DateUnits Feb 10 Apr 1 Aug 10 Nov 15 100 85 70 30 190 35 58 210 15 A physical count at the end of the year shows that 20 units remain in inventory 16 (note: use this as a check when you complete the problems) 18 Part 1) Determine the cost of the ending inventory as of December 31 using 19 a perpetual first-in, first-out (FIFO) inventory system. Purchases Cost of Merchandise Sold 21 22 Date Oty Unit Cost Total Cost oty Unit Cost Total Cost Qty Unit Cost Total Cost Inventory 23 10-Jan 24 10-Feb 25 26 28 15-Feb 31 33 1 35 38 3-Jul perpetual practice problems periodic practice problem ThinkCentre

Explanation / Answer

Part 1

Part 2

Please post independent questions separately. Thank you.

PERPETUAL FIFO Purchases Cost of Merchandise Sold Inventory Date Qty Unit cost Total Cost Qty Unit cost Total Cost Qty Unit cost Total Cost 10-Jan 10 50 500 10 50 500 10-Feb 5 50 250 5 50 250 15-Feb 100 52 5200 5 50 250 100 52 5200 01-Apr 5 50 250 80 52 4160 20 52 1040 03-Jul 65 55 3575 20 52 1040 65 55 3575 10-Aug 20 52 1040 50 55 2750 15 55 825 01-Nov 35 58 2030 15 55 825 35 58 2030 15-Nov 15 55 825 15 58 870 20 58 1160 Totals 210 11305 190 10145 20 1160

Related Questions

Navigate

• Browse (All)
• Browse V
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.