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Question 4 000 ateaas evilouborq no ea noleasiqau The inventory records of Martin Corporation below reflected the following information for the month of August. sidsyeg etnuoo0s ni 1. Determine the amount of the ending inventory and cost of goods sold under each of the following methods assuming the periodic inventory system. Assuming a physical count shows there are 1,300 units in the ending inventory.nolesihomA FIFO 00E eldevis LIFO. ego moti awoft rlaso erl eteluols 2. Which method gives the highest Net Income? Snoiteou 3. Which method gives the highest assets value? ori se anted Date Number of Units Unit Costebs bnie 16ay er of non9 Transaction hiwollol erdt bebuloni vnsomo0 $5 8/1 Beginning inventory 400 000.ara 400 0 $5 000,00S etnuooos lutidưob not soswollA 8/3 Purchase No. 1 eldsvisosA ainuo 8/5 Sale No. 1 600 8/7ols2.Sale No. 2 beiHuoms 0100 panub eldsvieO91 ainuooos no anoilbelloo rdas 8/11 Purchase No. 2 Ulu biuow00 ni ebem sa tibeo eril to dS 1s bstsmile eidifoellooe 8/17 Sale No. 3 700 8/19 Purchase No. 3 1000 $7 anuoo uob 1ot eoneolls ert lo seonsled ertt onimmats 8/21ob tot Sale No. 4T ebsm 600neqx ideb bsd bioo91 ct insemlaujbs orl 1e vthe poitauibs entt ol nong eonslad libero e esit atnuo 600 8/28 Sale No. 5 E rotes 1200 aonslsd inuc priwcllol odt bard no $9 Ieinolo,tOS rC 1edmsoe0 8/29 Purchase No. 4 Ending Inventorybe onibioaen ol tohq 2oldesvisoe1 bne eelsa tiba1o of bel scconu 8/30 000. aldsvieoen ainuc

Question 4 000 ateaas evilouborq no ea noleasiqau The inventory records of Martin Corporation below reflected the following information for the month of August. sidsyeg etnuoo0s ni 1. Determine the amount of the ending inventory and cost of goods sold under each of the following methods assuming the periodic inventory system. Assuming a physical count shows there are 1,300 units in the ending inventory.nolesihomA FIFO 00E eldevis LIFO. ego moti awoft rlaso erl eteluols 2. Which method gives the highest Net Income? Snoiteou 3. Which method gives the highest assets value? ori se anted Date Number of Units Unit Costebs bnie 16ay er of non9 Transaction hiwollol erdt bebuloni vnsomo0 $5 8/1 Beginning inventory 400 000.ara 400 0 $5 000,00S etnuooos lutidưob not soswollA 8/3 Purchase No. 1 eldsvisosA ainuo 8/5 Sale No. 1 600 8/7ols2.Sale No. 2 beiHuoms 0100 panub eldsvieO91 ainuooos no anoilbelloo rdas 8/11 Purchase No. 2 Ulu biuow00 ni ebem sa tibeo eril to dS 1s bstsmile eidifoellooe 8/17 Sale No. 3 700 8/19 Purchase No. 3 1000 $7 anuoo uob 1ot eoneolls ert lo seonsled ertt onimmats 8/21ob tot Sale No. 4T ebsm 600neqx ideb bsd bioo91 ct insemlaujbs orl 1e vthe poitauibs entt ol nong eonslad libero e esit atnuo 600 8/28 Sale No. 5 E rotes 1200 aonslsd inuc priwcllol odt bard no $9 Ieinolo,tOS rC 1edmsoe0 8/29 Purchase No. 4 Ending Inventorybe onibioaen ol tohq 2oldesvisoe1 bne eelsa tiba1o of bel scconu 8/30 000. aldsvieoen ainuc

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 5EB: Bleistine Company had the following transactions for the month. Calculate the ending inventory...
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Question 4 000 ateaas evilouborq no ea noleasiqau The inventory records of Martin Corporation below reflected the following information for the month of August. sidsyeg etnuoo0s ni 1. Determine the amount of the ending inventory and cost of goods sold under each of the following methods assuming the periodic inventory system. Assuming a physical count shows there are 1,300 units in the ending inventory.nolesihomA FIFO 00E eldevis LIFO. ego moti awoft rlaso erl eteluols 2. Which method gives the highest Net Income? Snoiteou 3. Which method gives the highest assets value? ori se anted Date Number of Units Unit Costebs bnie 16ay er of non9 Transaction hiwollol erdt bebuloni vnsomo0 $5 8/1 Beginning inventory 400 000.ara 400 0 $5 000,00S etnuooos lutidưob not soswollA 8/3 Purchase No. 1 eldsvisosA ainuo 8/5 Sale No. 1 600 8/7ols2.Sale No. 2 beiHuoms 0100 panub eldsvieO91 ainuooos no anoilbelloo rdas 8/11 Purchase No. 2 Ulu biuow00 ni ebem sa tibeo eril to dS 1s bstsmile eidifoellooe 8/17 Sale No. 3 700 8/19 Purchase No. 3 1000 $7 anuoo uob 1ot eoneolls ert lo seonsled ertt onimmats 8/21ob tot Sale No. 4T ebsm 600neqx ideb bsd bioo91 ct insemlaujbs orl 1e vthe poitauibs entt ol nong eonslad libero e esit atnuo 600 8/28 Sale No. 5 E rotes 1200 aonslsd inuc priwcllol odt bard no $9 Ieinolo,tOS rC 1edmsoe0 8/29 Purchase No. 4 Ending Inventorybe onibioaen ol tohq 2oldesvisoe1 bne eelsa tiba1o of bel scconu 8/30 000. aldsvieoen ainuc
Transcribed Image Text:Question 4 000 ateaas evilouborq no ea noleasiqau The inventory records of Martin Corporation below reflected the following information for the month of August. sidsyeg etnuoo0s ni 1. Determine the amount of the ending inventory and cost of goods sold under each of the following methods assuming the periodic inventory system. Assuming a physical count shows there are 1,300 units in the ending inventory.nolesihomA FIFO 00E eldevis LIFO. ego moti awoft rlaso erl eteluols 2. Which method gives the highest Net Income? Snoiteou 3. Which method gives the highest assets value? ori se anted Date Number of Units Unit Costebs bnie 16ay er of non9 Transaction hiwollol erdt bebuloni vnsomo0 $5 8/1 Beginning inventory 400 000.ara 400 0 $5 000,00S etnuooos lutidưob not soswollA 8/3 Purchase No. 1 eldsvisosA ainuo 8/5 Sale No. 1 600 8/7ols2.Sale No. 2 beiHuoms 0100 panub eldsvieO91 ainuooos no anoilbelloo rdas 8/11 Purchase No. 2 Ulu biuow00 ni ebem sa tibeo eril to dS 1s bstsmile eidifoellooe 8/17 Sale No. 3 700 8/19 Purchase No. 3 1000 $7 anuoo uob 1ot eoneolls ert lo seonsled ertt onimmats 8/21ob tot Sale No. 4T ebsm 600neqx ideb bsd bioo91 ct insemlaujbs orl 1e vthe poitauibs entt ol nong eonslad libero e esit atnuo 600 8/28 Sale No. 5 E rotes 1200 aonslsd inuc priwcllol odt bard no $9 Ieinolo,tOS rC 1edmsoe0 8/29 Purchase No. 4 Ending Inventorybe onibioaen ol tohq 2oldesvisoe1 bne eelsa tiba1o of bel scconu 8/30 000. aldsvieoen ainuc
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