Question

sandhill co uses a periodic inventory system. it’s records show

Wowie i Urtbook ment Sandhill Co. uses a periodic inventory system. Its records show the following for the month of May, in which 79 units were sold. anation Units Unit Cost Total Cost Date May 1 15 24 Explanation Inventory Purchase Purchase Total Calculate the weighted average unit cost. (Round answer to 3 decimal places.. 5.125.) Weighted-average unit cost Calculate the ending inventory at May 31 using the FIFO, LIFO and average cost methods. (Round answers to o decimal places, 0.0. 125.) AVERAGE-COST The ending inventory at May 31 s Click if you would like to Show Work for this question: Open Show Work y Policy 1 R 2000-2019 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc.

Answer 1

ending inventory units unit price total date May-01 May-01 May-15 May-15 May-24 May-24 FIFO periodic cost of goods available for cost of goods sold units unit price total units unit pri total opening inventor 34 8 272 34 8 272 purchases 26 9 234 26 9 234 purchases 40 1 0 400 19 1 0 190 total 100 906 79 696 1 10 21 21 210 210 LIFO periodic cost of goods available for cost of goods sold units unit price total units unit pri total opening inventor 34 8 272 13 104 purchases 269 234 26 9 234 purchases 40 10 400 40 10 400 total 100 906 79 738 ending inventory units unit price total 218 168 18 date May-01 May-01 May-15 May-15 May-24 May-24 100 21 168 WEIGHTED AVG periodic cost of goods available for cost of goods sold units unit price total units unit pri total opening inventor 34 8 272 79 9.060 716 purchases 269 234 purchases 40 10 400 100 906 79 716 ending inventory units unit price total 21 9.060 190 date May-01 May-01 May-15 May-15 May-24 May-24 total 21 1 90 ANSWERS Yeighted average cost 9.060 FIFO LIFO WEIGHTED AVG 210 168 190 cost of ending inventory may 31