Given the following data what is the ending inventory value using the FIFO method A.PurchasesB.SalesC.50 units at 50/unitD.25 units at 55/unitE.60 units at 45/unitF.30 units at 50/unitG.70 units at 40/unitH.45 units at 40/unit...
百度试题 结果1 题目What is the ending inventory level in dollars using the FIFO Method A. 相关知识点: 试题来源: 解析 B Ending Inventory=306×6=$1836.00.反馈 收藏
FIFO method Other retailers prefer to calculate ending inventory using the first in, first out (FIFO) method. It assumes that the oldest items you bought were sold first, and is used by accountants throughout periods of economic uncertainty. Let’s say you’re calculating the ending inventory ...
Using FIFO, the 700 items sold would have been assigned the following cost: ((200 units purchased previously x $20) + (500 units x $20) = $14,000 COGS. The items in ending inventory would have been assigned the following cost: ((100 units x $24) + (200 units x $25)) = $7,...
Refer to Question 5. What value is assigned to the ending inventory, if using FIFO?( )。 A.$875.00 B.$595.00 C.$550.00 D.$625.00 你可能感兴趣的试题 单项选择题 五四时期成立的第一个新文学团体是 A.创造社 B.文学研究会 C.语丝社
Inventory Data - By using the above-given data, do the calculation using all three methods. Using FIFO Ending Inventory Formula Since the first purchased units are sold first, the value of the seven units sold at the unit cost of the first units purchases and the balance of 3 units, which...
Cost of goods sold and ending inventory under three methods (FIFO,LIFO,Weighted average)uinv
Given the following data and assuming a periodic inventory system, what is the ending inventory value using the FIFO method? Purchases Sales 50 units at 50/unit 25 units at 55/unit 60 units at 45/unit 30 units at 50/unit 70 units at 40/unit 45 units at 45/unit A. 3,200. B. 3,...
7. If George Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment. I need to find the Ending inventory and cost of goods sold for FIFO, LIFO also the ending inventory and cost of goods for Using weigh...
The last-in, first-out, or LIFO, method is the opposite of FIFO. It assumes that the last inventory purchased is the first inventory sold. In periods of declining prices, this means the lower-priced inventory will be sold first and the higher-priced inventory will be sold last. Using the...