Flora's Gifts reported the following current-month data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 60 units—50 units from the January 6 purchase and 10 units from the January 25 purchase.
Jan. 1 Beginning inventory -138 units @ $3.00 = $ 414
Jan. 6 Purchase 300 units @ $2.80 = $840
Jan 17 Purchase 540 units @ $2.30 =$1,242
Jan. 25 Purchase 22 units @ $2.00=$44
Totals 1,000 units $2,540
Determine the cost assigned to ending inventory and to cost of goods sold for the following. (Do not round intermediate calculations and round your answers to nearest whole dollar.)
A)specific identification
B)weighted average
C)FIFO
D)LIFO
Answers
Answer:
Explanation:
Calculation of ending inventory
Jan 01 60 units @3.00 = 180
Jan 6 50 units @2.80 = 140
Jan 17 10 units @2.30 = 23
Jan 25 22 units @2.00 = 44
387
Calculation of cost of goods sold
Jan 01 138 units @3.00 = 414
Jan 6 300 units @2.80 = 840
Jan 17 540 units @2.30 = 1242
Jan 25 22 units @2.00 = 44
2540
(-) 387
= 2143
Answer:
Explanation: i got no explanation obviously the ones with red checks are wrong but the rest are right and idk y this is dummy hard
