"> (Answered) Morrison Inc. reported the following information for the month of October: - Tutorials Prime

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(Answered) Morrison Inc. reported the following information for the month of October:


Morrison Inc. reported the following information for the month of October:


Morrison Inc. reported the following information for the month of October:October 1Inventory65 units @ $20October 7Purchase50 units @ $22October 18Purchase69 units @ $23October 27Purchase45 units @ $24During October, Morrison sold 182 units. The company uses a periodic inventory system.Required:What is the value of ending inventory and cost of goods sold for October under the following assumptions. Cost of Goods Sold Ending Inventory (for each)1. Of the 182 units sold, 54 cost $20, 37 cost $22, 61 cost $23, and 30 cost $24.2. FIFO3. LIFO4. Weighted average method (Round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar.)

 


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DATE ANSWERED

Jan 02, 2020

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