Flat TV uses a perpetual inventory system. Shown below are Flat TV's beginning inventory of a particular product and purchases during January: ​ Quantity Unit Cost Total Cost Beginning inventory (Jan....


Flat TV uses a perpetual inventory system. Shown below are Flat TV's beginning inventory of a particular product and purchases during January:



































QuantityUnit CostTotal Cost
Beginning inventory (Jan. 1)6$195$1,170
Purchase (Jan. 6)12$2252,700
Purchase (Jan. 25)12$2302,760
  Total30$6,630


On January 23 (prior to the purchase on January 25), Flat TV sold 13 units of this product at $ 300 each




Determine following Items and write into provided Box (Ignore Currency input in box)


a) The cost of goods sold relating to the sale on January 23 under FIFO Method


b) The Inventory at end of January under FIFO Method


c) Gross Profit under FIFO Method


d) The Cost of Goods Sold related to sale on January 23 under Moving Average Method


e) The Inventory at end of January under Moving Average Method


c) Gross Profit under Moving Average Method



Jun 02, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here