Inventory Costing Methods-Perpetual Method Using the data below, assume that Portet Corporation uses the perpetual inventory system. Calculate the value of ending inventory and cost of goods sold at year-end using the perpetual method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Round the cost per unit to 3 decimal places and round your final answers to the nearest dollar. Units Unit Cost $8 $9 10 12 Beginning Inventory, January 11,200 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 March 1 1,400 July 1 1,400 October 29 1,000 Sales:

Inventory Costing Methods-Perpetual Method Using the data below, assume that Portet Corporation uses the perpetual inventory system. Calculate the value of ending inventory and cost of goods sold at year-end using the perpetual method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Round the cost per unit to 3 decimal places and round your final answers to the nearest dollar. Units Unit Cost $8 $9 10 12 Beginning Inventory, January 11,200 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 March 1 1,400 July 1 1,400 October 29 1,000 Sales:

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Description: ManGive me correct answer with explanation Inventory Costing Methods-Perpetual MethodUsing the data below, assume that Portet Corporationuses the perpetual inventory system. Calculate thevalue of ending inventory and cost of goods sold atyear-end usi

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 50E: Inventory Costing Methods Crandall Distributors uses a perpetual inventory system and has the...

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