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    jazzyshoes2004's Avatar
    jazzyshoes2004 Posts: 3, Reputation: 1
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    #1

    Jul 29, 2010, 01:40 PM
    Need help with this question:
    Janet starts a merchandising business on June 1 and enters into three inventory purchases:
    June 7 - 10 units @ $6.00 cost
    June 14 - 20 units @ $12.00 cost
    June 21 - 15 units @ $14.00 cost
    Janet sells 15 units for $25.00 each on June 15. Eight of the sold units are from the June 7 purchase and seven are from June 14 purchase. Janet uses a perpetual inventory system. Determine the costs assigned to the June 31 ending inventory when costs are assigned based on (a) FIFO. (b) LIFO, (c) weighted average, and (d) specific identification.
    Alty's Avatar
    Alty Posts: 28,317, Reputation: 5972
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    #2

    Jul 29, 2010, 01:50 PM

    Please see the link for homework help.

    https://www.askmehelpdesk.com/financ...-b-u-font.html
    NeedKarma's Avatar
    NeedKarma Posts: 10,635, Reputation: 1706
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    #3

    Aug 1, 2010, 10:09 AM
    Quote Originally Posted by kumud343 View Post
    Thanks...Hope this is helpful...
    It'll be removed. ;)
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #4

    Aug 3, 2010, 03:20 AM

    Online text with info on this:Principles of Accounting Chapter 8

    We aren't going to just give you the answer, but give it a shot and post your work.
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