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Category > Management Posted 14 Mar 2018 My Price 5.00

Ziad Company

Ziad Company had a beginning inventory on January 1 of 300 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made.

Mar. 15

  

800 units

  

at

  

$23

  

Sept. 4

  

700 units

  

at

  

$26

July 20

  

500 units

  

at

  

$24

  

Dec. 2

  

200 units

  

at

  

$29


2,000 units were sold. Ziad Company uses a periodic inventory system.

--Determine the cost of goods available for sale.

--Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.23.)

--Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 1,250.)

 

Answers

Maurice Tutor
(5)
Status NEW Posted 14 Mar 2018 01:03 PM My Price 5.00

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