Question

how is C & D calculated?

2. Matlock Corporation sells item A as part of its product line. Information as to balances on hand, purchases, and sales of item A are given in the following table for the six months of 2018. Quantities Purchased Sold Unit Price of Purchase $3.65 $3.90 1,300 Date January 11 January 24 February 8 March 16 June 11 Balance 400 1,700 1,400 840 1,440 - 300 560 - 600 $4.10 Required: a. Compute the ending inventory at June 30 under the perpetual LIFO inventory pricing method. b. Compute the ending inventory at June 30 under the periodic LIFO inventory pricing method. C. Compute the cost of goods sold for the first six months under the perpetual FIFO inventory pricing method. d. Compute the cost of goods sold for the first six months under the periodic FIFO inventory pricing method.

Answer 1

fifo Salos feb Harch 300 nit 560 Uits Azthis Fifo Hetnodl the frst Now in tris Again te fixst xehase Rat will Faben But wow tre Poo blem quavilily Rewwaiu ufist foxchas Ratt i loo uuit (40o uiith - 300 un we will tatke thaNeat Porchaaa Rata fo it TKeore Peehan li cabli which Rate JanDary Heanss auce.,So l015- 300 x 3.66 = So oox 3.65 t 460 x 3.90 =366 1794 al59 Cost 10952159 354

fifo Salos feb Harch 300 nit 560 Uits Azthis Fifo Hetnodl the frst Now in tris Again te fixst xehase Rat will Faben But wow tre Poo blem quavilily Rewwaiu ufist foxchas Ratt i loo uuit (40o uiith - 300 un we will tatke thaNeat Porchaaa Rata fo it TKeore Peehan li cabli which Rate JanDary Heanss auce.,So l015- 300 x 3.66 = So oox 3.65 t 460 x 3.90 =366 1794 al59 Cost 10952159 354