I need help.Please include solution so, I will understand how to solve them.Taki
ID: 2603781 • Letter: I
Question
I need help.Please include solution so, I will understand how to solve them.Taking classes online without examples is suck.Thank you on advance.
hread: First Assignment × Cengage C v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.doinvoker- CC1020 Module 1 Problems eBook Calculator Specific Identification, FIFO, LIFO, and Weighted Average Swing Company's beginning inventory and purchases during the fiscal year ended Septen Units Unit Price Total Cost October 1, 20-1 October 18 November 25 January 12, 20-2 March 17 $19 $7,790 19.5 10,335 Beginning inventory410 1st purchase 2nd purchase 3rd purchase 4th purchase Sth purchase 6th purchase 7th purchase 530 190 20.5 3,895 300 21.5 890 22.5 20,025 800 20023.5 4,700 690 24.5 16,905 6,450 23 18,400 August 21 September 27 4,010 $88,500 Use the following information for the specific identification method. There are 1,300 units of inventory on hand on September 30, 20-2 of these 1,300 units 100 are from October 18, 20-1 1st purchase 200 are from January 12, 20-2 3rd purchaseExplanation / Answer
Question 1:
Note: Other two question post seperately
(A) FIFO Purchases Cost of Goods Sold Cost of Ending Inventory Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost Opening 410 $19.00 $7,790 410 $19.00 $7,790 18-Oct 530 $19.50 $10,335 530 $19.50 $10,335 25-Nov 190 $20.50 $3,895 190 $20.50 $3,895 12-Nov 300 $21.50 $6,450 300 $21.50 $6,450 17-Mar 890 $22.50 $20,025 890 $22.50 $20,025 2-Jun 800 $23.00 $18,400 390 $23.00 $8,970 410 $23.00 $9,430 21-Aug 200 $23.50 $4,700 200 $23.50 $4,700 27-Sep 690 $24.50 $16,905 690 $24.50 $16,905 Total 4010 $88,500 2710 $57,465 1,300 $31,035 (B) LIFO Purchases Cost of Goods Sold Cost of Ending Inventory Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost Opening 410 $19.00 $7,790 410 $19.00 $7,790 18-Oct 530 $19.50 $10,335 530 $19.50 $10,335 25-Nov 190 $20.50 $3,895 190 $20.50 $3,895 12-Nov 300 $21.50 $6,450 130 $21.50 $2,795 170 $21.50 $3,655 17-Mar 890 $22.50 $20,025 890 $22.50 $20,025 2-Jun 800 $23.00 $18,400 800 $23.00 $18,400 21-Aug 200 $23.50 $4,700 200 $23.50 $4,700 27-Sep 690 $24.50 $16,905 690 $24.50 $16,905 Total 4010 $88,500 2710 $62,825 1,300 $25,675 (C) Weighted Average Purchases Cost of Goods Sold Cost of Ending Inventory Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost Opening 410 $19.00 $7,790 18-Oct 530 $19.50 $10,335 25-Nov 190 $20.50 $3,895 12-Nov 300 $21.50 $6,450 17-Mar 890 $22.50 $20,025 2-Jun 800 $23.00 $18,400 21-Aug 200 $23.50 $4,700 27-Sep 690 $24.50 $16,905 2710 $22.07 $59,809 1300 $22.07 $28,691 Total 4010 $22.07 $88,500 2710 $59,809 1,300 $28,691 (D) Specific Identification Purchases Cost of Goods Sold Cost of Ending Inventory Units Unit Cost Total Cost Units Unit Cost Total Cost Units Unit Cost Total Cost Opening 410 $19.00 $7,790 410 $19.00 $7,790 18-Oct 530 $19.50 $10,335 430 $19.50 $8,385 100 $19.50 $1,950 25-Nov 190 $20.50 $3,895 190 $20.50 $3,895 12-Nov 300 $21.50 $6,450 100 $21.50 $2,150 200 $21.50 $4,300 17-Mar 890 $22.50 $20,025 790 $22.50 $17,775 100 $22.50 $2,250 2-Jun 800 $23.00 $18,400 400 $23.00 $9,200 400 $23.00 $9,200 21-Aug 200 $23.50 $4,700 200 $23.50 $4,700 27-Sep 690 $24.50 $16,905 390 $24.50 $9,555 300 $24.50 $7,350 Total 4010 $88,500 2710 $38,680 1,300 $29,750