l pian vew. Nn × N Best places for Young Fe x / M FW: Your Request for M d27fc4b

Question

l pian vew. Nn × N Best places for Young Fe x / M FW: Your Request for M d27fc4b6c0682projector-1 18. A company purchased inventory as follows: 200 units @ $10 300 units $12 The average unit cost for inventory is A) $10.00 B) $11.00 C) $11.20 D) $12.10 Use the following information for questions 19 & 20 MEEPS Corporation has beginning inventory of 200 units @$10. There was one purch 800 units@$12. This was the only purchase for the year. 300 units are in ending inve 19. Calculate total goods available for sale in dollars A) $2,000 B) $9,600 C) $11,600 D) None of the above 20. What is ending inventory using FIFO? A) 32.400 B) $3,000 C) $3,200 D) None of the above Use the following information for questions 21-23 XEEPS Tech has the Sollowing inventory information: July Begining Inventory Juty 7 Purchases July 22 Purchases 5 380 20 units $19 70 units 0 $20 10 units $22 21. A physical urd of merchandiuu Using the LIFO imantory metod, the amourt goods solr "r~.. ) s620 C:53 380 D) 31 420

Explanation / Answer

18C $11.20 Explanation 200 x 10 2000 300 x 12 3600 500 $          5,600 ÷ 500 $          11.20 19C 200 x 10 2000 800 x 12 9600 1000 $        11,600 20D None of the above Explanation 300 x 12 3600 Ending inventory (FIFO) 21D $1,420 Explanation 10 x 22 220 60 x 20 1200 70 1420 COGS (LIFO)

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