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Farman Appliance Mart_ending inventory under a perpetual inventory system

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Question;Problem 6-9AFarman Appliance Mart began operations on May 1. It uses a perpetual inventory system. During May, the company had the following purchases and sales for its Model 25 Sureshot camera.PurchasesDate Units Unit Cost Sales UnitsMay 1 210 $153May 4 120May 8 240 $173May 12 150May 15 180 $188May 20 90May 25 120Calculate the average cost per unit at May 1, 4, 8, 12, 15, 20 & 25. (Round answers to 3 decimal places, e.g. $105.252.) Average cost for each unitMay 1 $ 153May 4 $ 153May 8 $ 167.545May 12 $ 167.545May 15 $ 177.772May 20 $ 177.772May 25 $ 177.772Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Round answers to 0 decimal places, e.g. $2,150.)The ending inventory under a perpetual inventory system 1) FIFO 2)MOVING-AVERAGE3)LIFO

 

Paper#38266 | Written in 18-Jul-2015

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