FIFO Periodic System Adjusting Entries

Beginning inventory and purchases as follows: Beg Inv ... 7 @ $104 1st purch ...12 @ $103 2nd purch ... 19 @ $105 3rd purch ... 11 @ $107 Use periodic system. 19 units were left in inventory at the end of the period. Determine the cost of the 19 units in the inventory by each method, show...

The company uses the periodic system, and there were 15 units in inventory at the end of the period. Can someone please determine the costs of 15 units in the inventory by each of the following methods, presenting details in your computations (a) first-in, first out and (b) last-in, first-out.

Details regarding the inventory of appliances at Aug. 1, 2007, purchases invoices during the year, and the inventory count at July 31, 2008 are summarized as follows: Purchases Invoices Model Inventory Aug. 1 1st 2nd ...

Can someone please help me write these journal entries for a company using the periodic inventory system? Thanks Purchased $19,000 worth of inventory on account. Sold goods on account for $21,000 and made cash sales of $18,800. Credited customer accounts for $2,520 of merchandise returned....