The following information is for the Bud Company; the company sells just one product: Units Unit Cost 200 Beginning Inventory Feb. 11 400 Purchases: $10 14 500 16 May 18 Oct. 23 100 22 At year-end,...


The following information is for the Bud Company; the company sells just one product:<br>Units Unit Cost<br>200<br>Beginning Inventory<br>Feb. 11<br>400<br>Purchases:<br>$10<br>14<br>500<br>16<br>May 18<br>Oct. 23<br>100<br>22<br>At year-end, there was an ending inventory of 340 units. Assume the use of the periodic inventory method. Calculate the value of ending inventory and the cost of goods sold for the year using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average<br>cost method.<br>Do not round until your final answers. Round your answers to the nearest dollar.<br>A. First-in, First-out:<br>Ending Inventory $<br>Cost of goods sold $<br>B. Last-in, first-out:<br>Ending Inventory $<br>Cost of goods sold $<br>C. Weighted Average<br>Ending Inventory $<br>Cost of goods sold s<br>

Extracted text: The following information is for the Bud Company; the company sells just one product: Units Unit Cost 200 Beginning Inventory Feb. 11 400 Purchases: $10 14 500 16 May 18 Oct. 23 100 22 At year-end, there was an ending inventory of 340 units. Assume the use of the periodic inventory method. Calculate the value of ending inventory and the cost of goods sold for the year using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost method. Do not round until your final answers. Round your answers to the nearest dollar. A. First-in, First-out: Ending Inventory $ Cost of goods sold $ B. Last-in, first-out: Ending Inventory $ Cost of goods sold $ C. Weighted Average Ending Inventory $ Cost of goods sold s

Jun 08, 2022
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