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Problem 6-2A_ Dyna Distribution_Inventory Valuation




Question;Need the answers to this worksheet;Problem;6-2A;Dyna Distribution markets;CDs of the performing artist King James. At the beginning of March, Dyna;had in beginning inventory 2,760 King James CDs with a unit;cost of $2 During March, Dyna made the following purchases of King;James CDs.;March;5;6,440;$7;March;21;3,680;$13;March;13;7,360;$8;March;26;3,680;$14;During March, 18,400 units were sold. Dyna uses a periodic;inventory system.;Determine the cost of goods;available for sale.;The;cost of goods available for sale;$;Link to;Text;Link to;Video;Calculate average cost per;unit. (Round answer to 4 decimal;places, e.g. $2.2520.);Average;cost per unit;$;Link to;Text;Link to;Video;Determine (1) the ending;inventory and (2) the cost of goods sold under each of the assumed cost;flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. $2,120.);FIFO;LIFO;AVERAGE-COST;The;ending inventory;$;$;$;The;cost of goods sold;$;$;$;Link to;Text;Link to;Video;Which cost flow method;results in (1) the highest inventory amount for the balance sheet and (2);the highest cost of goods sold for the income statement?;(1);produces;the highest inventory amount, $.;(2);produces;the highest cost of goods sold, $.;Click;if you would like to Show Work for this question;Open;Show Work


Paper#41663 | Written in 18-Jul-2015

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