160. During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows. What was the weighted-average cost of the company's January 31 inventory? Units Cost per Unit Beginning inventory 100 $10 Jan. 5 purchase 40 12 10 sale 60 15 purchase 70 13 25 sale 50 161. A company that uses a perpetual inventory system made the following cash purchases and sales. There was no beginning inventory. January 1: Purchased 100 units at $10 per unit February 5: Purchased 60 units at $12 per unit March 16: Sold 40 Units for $16 per unit Prepare general journal entries to record the March 16 sale using the FIFO inventory valuation method. 162. A company that uses a perpetual inventory system made the following cash purchases and sales. There was no beginning inventory. January 1: Purchased 100 units at $10 per unit February 5: Purchased 60 units at $12 per unit March 16: Sold 40 Units for $16 per unit Prepare the general journal entries to record the March 16 sale using the LIFO inventory valuation method.

160. During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows. What was the weighted-average cost of the company's January 31...

160. During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows. What was the weighted-average cost of the company's January 31 inventory?

		Units	Cost per Unit
Beginning inventory	100	$10
Jan.	5 purchase	40	12
	10 sale	60
	15 purchase	70	13
	25 sale	50

161. A company that uses a perpetual inventory system made the following cash purchases and sales. There was no beginning inventory.

January 1:	Purchased 100 units at $10 per unit
February 5:	Purchased 60 units at $12 per unit
March 16:	Sold 40 Units for $16 per unit

Prepare general journal entries to record the March 16 sale using the FIFO inventory valuation method.

162. A company that uses a perpetual inventory system made the following cash purchases and sales. There was no beginning inventory.

January 1:	Purchased 100 units at $10 per unit
February 5:	Purchased 60 units at $12 per unit
March 16:	Sold 40 Units for $16 per unit

Prepare the general journal entries to record the March 16 sale using the LIFO inventory valuation method.

May 15, 2022

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160. During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows. What was the weighted-average cost of the company's January 31...

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