Question

In: Accounting

Shown below is the activity for one of the products of Random Creations: January 1 balance,...

  1. Shown below is the activity for one of the products of Random Creations:
    January 1 balance, 80 units @ $50

Date

Event

Number of Units

Cost per Unit ($)

Dec/02

Purchase

100

5

Dec/05

Sale

110

N/A

Dec/10

Sale

50

N/A

Dec/18

Purchase

100

5.5

Calculate the CGS and End Inventory using:

  • FIFO Perpetual
  • Average Cost Periodic

Solutions

Expert Solution

ekkarill92 answered 3 years ago
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