Business, 15.07.2020 01:01 isaiahmyers3410
Ferris Company began 2018 with 5,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January 2018 are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 6,000 $ 10 $ 60,000 Jan. 18 5,000 11 55,000 Totals 11,000 115,000 *Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 3,000 Jan. 12 3,000 Jan. 20 4,000 Total 10,000 6,000 units were on hand at the end of the month. Required: Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives: 1. FIFO, periodic system. 2. LIFO, periodic system. 3. LIFO, perpetual system. 4. Average cost, periodic system. 5. Average cost, perpetual system. FIFO Cost of Goods Cost of Goods Sold Ending Inventory Available for Sale - Periodic FIFO - Periodic FIFO # of Cost Cost of Goods # of Cost Cost of # of units Cost Ending units per Available units per Goods in ending per Inventory unit for Sale sold unit Sold inventory unit Beginning Inventory 5,000 $9.00 $45,000 5,000 $9.00 $45,000 $9.00January 10 6,000 $10.00 60,000 $10.00 0 $10.00 0January 18 5,000 $11.00 55,000 $11.00 0 $11.00 0Total 16,000 $160,000 5,000 $45,000 0 $0
Answers: 1
Business, 22.06.2019 17:30
Fabian got into an accident on his way to work. he had multiple fractures in his leg. his doctor advised strict bed rest for at least three months.fabian is a freelance wildlife photographer who usually works on a contract basis, and this is his primary source of income. before the accident, fabian was planning his finances. which goal of his financial plan would fabian in getting through without pay for the next three months? the goal that requires the creation of a/an would fabian get through the next three months without pay.
Answers: 1
Business, 22.06.2019 20:50
Which of the following is an example of a monetary policy? a. the government requires credit card companies to protect customers' privacy. b. the government restricts the amount of money that banks can lend. c. the government lowers taxes and increases spending. d. the government pays for repairing damage from a natural disaster.
Answers: 1
Business, 22.06.2019 23:00
Abeverage company puts game pieces under the caps of its drinks and claims that one in six game pieces wins a prize. the official rules of the contest state that the odds of winning a prize are is the claim "one in six game pieces wins a prize" correct? why or why not? 1: 6.
Answers: 1
Business, 22.06.2019 23:10
Which investment has the liquidity and can be converted into cash easily?
Answers: 2
Ferris Company began 2018 with 5,000 units of its principal product. The cost of each unit is $9. Me...
Mathematics, 31.08.2021 14:00
English, 31.08.2021 14:00
Biology, 31.08.2021 14:00
Physics, 31.08.2021 14:00
Mathematics, 31.08.2021 14:00
Chemistry, 31.08.2021 14:00
Health, 31.08.2021 14:00
English, 31.08.2021 14:00
Computers and Technology, 31.08.2021 14:00
Social Studies, 31.08.2021 14:00
Social Studies, 31.08.2021 14:00
English, 31.08.2021 14:00
Mathematics, 31.08.2021 14:00