Return to Blackboard Kimmel, Survey of Accounting, le with Job Order Costing Hel

Question

Return to Blackboard Kimmel, Survey of Accounting, le with Job Order Costing Help I ssignment CALCULATOR PRINTER VERSION Exercise 6-4 Pearl Industriesuses a periodic inventory system. Its records show the following for the month of May, in which 76 units were sold. Date Explanation Units Unit Cost Total Cost May 1 15 24 Inventory Purchase 27 27 Purchase34 $9 10 $243 270 374 887 Total88 Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to O decimal places, e.g. 125 FIFO LIFO AVERAGE-COST The ending inventory at May 31 s Click if you would like to show work for this question: OpenShmwark Question Attempts: O of S used SAVp LArn 5 6 WERTYU

Explanation / Answer

6-4) calculate ending inventory :

6-9) a) Bad debt expense = $984

b) Bad debt expense = (79100*11%-1069) = $7632

FIFO LIFO Average cost Cost of ending inventory 12*11= 132 12*9 = 108 (887/88*12) = 121

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