pedrojsq271
17.03.2020 •
Business
Salisbury Company uses the perpetual inventory system and had the following inventory & sales activity for the month of May 2019: Date Activity Quantity Unit Price 5/1 Beginning Inventory 175 $11.50 5/5 Purchase 200 $10.50 5/10 Sales 300 $25 5/15 Purchase 200 $12.50 5/20 Sales 250 $28 5/25 Purchase 150 $12.50 Using the LIFO method, determine the dollar value for Ending Inventory at the end of month of May. Round to the nearest cent.
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Ответ:
Total ending inventory $ 2,162.5 LIFO perpetual method
Explanation:
At the time of each sale we determinate the last untis available for sale:
Beginning 175
Purchase 200
Slaes of 300
We use the entire 200 units purchase and 100 of the beginning inventory leaving
Beginning inventory of 75
Now, we continue:
Beginning inventory 75
5/15 purchase 200
Sales of 250 units
we use the entire 200 untis form the purchase and 50 units from beginning inventory
leaving
Beginning inventory 25 at 11.50 = 287.5
5/25 purcahse 150 units at 12.50 = 1875
Total ending inventory 2,162.5
Ответ:
4