stacis528
Dec 8, 2007, 09:01 PM
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 3rd Inventory count
July 31
TZ 2 @ $125 2 @ 130 4 @ 135 2@ 140 5
PM 7 @ 242 6 @ 250 5 @260 10@ 259 9
C2 -- 4 @75 4 @ 100 4@ 101 5
Determine the cost of inventory on July 31, 2008 by the FIFO and LIFO method using the following headings:
Model Quantity Unit Cost Total Cost
HELP!! I haven't the sloghtest idea on how to do this!
Purchases Invoices
Model Inventory Aug. 1 1st 2nd 3rd Inventory count
July 31
TZ 2 @ $125 2 @ 130 4 @ 135 2@ 140 5
PM 7 @ 242 6 @ 250 5 @260 10@ 259 9
C2 -- 4 @75 4 @ 100 4@ 101 5
Determine the cost of inventory on July 31, 2008 by the FIFO and LIFO method using the following headings:
Model Quantity Unit Cost Total Cost
HELP!! I haven't the sloghtest idea on how to do this!