CourseLover

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Algebra,Applied Sciences,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Engineering,Health & Medical,HR Management,Law,Marketing,Math,Physics,Psychology,Programming,Science Hide all
Teaching Since: May 2017
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  • MCS,MBA(IT), Pursuing PHD
    Devry University
    Sep-2004 - Aug-2010

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  • Assistant Financial Analyst
    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 09 Dec 2017 My Price 10.00

Chapter 8 HW PROBLEM

Needs to be done in Excel. Inventory simple problems. 

Chapter 8 HW PROBLEM Assume that ABC Company sells one product. The January activity for that product follows: Jan 1 Inventory 90 units @ $12 each Jan 4 Sale 75 units @ $22 each Jan 11 Purchase 120 units @ $16 each Jan 13 Sale 75 units @ $23 each Jan 20 Purchase 160 units @ $18 each Jan 24 Purchase 60 units @ $20 each Jan 27 Sale 200 units @ $22 each A) Using an EXCEL spreadsheet and formulas within the Spreadsheet, prepare all journal entries for the month including any month-end closing entries assuming that the company uses the PERIODIC and LIFO methods. Compute the COGS and Ending Inventory values as of 1/31. A physical count of the warehouse ±nds total units remaining is 80. B) Ignore your answer to A). Using an EXCEL spreadsheet and formulas within the Spreadsheet, prepare all journal entries for the month including any month-end closing entries assuming that the company uses the PERPETUAL and FIFO methods. Compute the COGS and Ending Inventory values as of 1/31. A physical count of the warehouse ±nds total units remaining is 80. C) Ignore your answers to A) & B). Using an EXCEL spreadsheet and formulas within the Spreadsheet, prepare all journal entries for the month including any month-end closing entries assuming that the company uses the PERPETUAL and Average Cost methods. Compute the COGS and Ending Inventory values as of 1/31. A physical count of the warehouse ±nds total units remaining is 80.
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CourseLover
(12)
Status NEW Posted 09 Dec 2017 10:12 AM My Price 10.00

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