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Perpetual problem FIFO Method – RoyalCustomEssays

Perpetual problem FIFO Method

Grand CANYON MGT420 all MODULE DISCUSSIONS
July 6, 2018
BUSN 115 Week 8 Final Exam Guide
July 6, 2018

Identify and compute the costs to assign to the units sold.
(Round per unit costs to three decimals)
The X Company uses the perpetual inventory system. It had
the following beginning inventory and current year purchases of its product.
Problem *Identify and compute the costs to assign to the
units sold. Round per unit costs to three decimals
Date January 1 Beginning Inventory 50units@$100 = $
5,000
January 14 Purchases 150units@120=$18,000

April 30 Purchases 200units@$150=$30,000

September 26 Purchases 300units@200=$60,000

The company transacted sales on the following dates at a $350 per unit
sales price

January 10 30units
specific cost@$100=$3,000

February 15 100units specific costs@120=10,000
October 5 350
units  
100units specific costs@150=$15,000
250units
specific costs@200=$50,000

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