Naab inc uses a periodic inventory system its records show

Reference no: EM13602365

Naab Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 160 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 62 $18 $1,116 May 15 Purchase 51 21 1,071 May 24 Purchase 82 23 1,886 Total 195 $4,073 Calculate the ending inventory at May 31 using the (a) FIFO, (b) average-cost, and (c) LIFO methods. (Round all answers to 0 decimal places, e.g. 2,555. For average cost computations round the per unit cost to 3 decimal places, e.g. 2.550.) FIFO $ Average-cost $ LIFO $ Calculate the amount allocated to cost of goods sold under each method. FIFO $ Average-cost $ LIFO $

Reference no: EM13602365

Questions Cloud

Buzz must disclose the liability in a note because the : buzz coffee shops is famous for its large servings of hot coffee. after a famous case involving mcdonalds the lawyer

Survivor company was formed on january 1 2006 by selling : survivor company was formed on january 1 2006 by selling and issuing 20000 shares of common stock at 15 per share. on

Wabash inc had revenue and expenses from ongoing business : wabash inc. had revenue and expenses from ongoing business operations for the current year of 480000 and 430000

If the variable cost per unit increases by 1 spending on : oslo company prepared the following contribution format income statement based on a sales volume of 1000 units the

Naab inc uses a periodic inventory system its records show : naab inc. uses a periodic inventory system. its records show the following for the month of may in which 160 units

Budgeted direct labor cost was 100000 and budgeted direct : a company has identified the following overhead costs and cost drivers for the coming yearoverhead item cost driver

The warsaw company must maintain a minimum cash balance of : the warsaw company must maintain a minimum cash balance of 15000. at the beginning of june the companys cash balance

The pixton company has budgeted production of 4000 units : the pixton company has budgeted production of 4000 units in march. each unit requires 1.5 hours of labor. the standard

The computer system requires all users to log on with a : the computer system requires all users to log on with a user identification their first initial and the first six

User Account

All Pages