Home / Questions / Periodic Inventory by Three Methods Bulldog Appliances uses the periodic inventory system...
Periodic Inventory by Three Methods
Bulldog Appliances uses the periodic inventory system. Details regarding the inventory of appliances at September 1, 2013, purchases invoices during the next 12 months, and the inventory count at August 31, 2014, are summarized as follows:
| Purchases Invoices | |||||||||||
| Model | Inventory, September 1 |
1st | 2nd | 3rd | Inventory Count, August 31 |
||||||
| AZ09 | __ | 4 at | $ 28 | 4 at | $ 31 | 4 at | $ 34 | 5 | |||
| GA85 | 8 at | $ 94 | 4 at | 85 | 3 at | 91 | 6 at | 98 | 7 | ||
| HI71 | 3 at | 70 | 3 at | 60 | 15 at | 63 | 9 at | 65 | 5 | ||
| KS32 | 7 at | 227 | 6 at | 235 | 5 at | 245 | 10 at | 244 | 9 | ||
| MS17 | 12 at | 78 | 10 at | 80 | 16 at | 87 | 16 at | 88 | 13 | ||
| ND52 | 2 at | 111 | 2 at | 113 | 3 at | 131 | 3 at | 133 | 5 | ||
| WV63 | 5 at | 164 | 4 at | 174 | 4 at | 179 | 7 at | 184 | 8 | ||
Required:
1. Determine the cost of the inventory on August 31, 2014, by the first-in, first-out method.
If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. If units are in inventory at two different costs, enter the units PURCHASED MOST RECENTLY first.
| Bulldog Appliances Cost of the Inventory-FIFO Method August 31, 2014 |
|||||
|---|---|---|---|---|---|
| Model | Quantity | Unit Cost | Total Cost | ||
| AZ09 | $ | $ | |||
| AZ09 | |||||
| GA85 | |||||
| GA85 | |||||
| HI71 | |||||
| KS32 | |||||
| MS17 | |||||
| ND52 | |||||
| ND52 | |||||
| WV63 | |||||
| WV63 | |||||
| Total | $ | ||||
2. Determine the cost of the inventory on August 31, 2014, by the last-in, first-out method.
If the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. If units are in inventory at two different costs, enter the OLDEST units first.
| Bulldog Appliances Cost of the Inventory-LIFO Method August 31, 2014 |
|||||
|---|---|---|---|---|---|
| Model | Quantity | Unit Cost | Total Cost | ||
| AZ09 | $ | $ | |||
| AZ09 | |||||
| GA85 | |||||
| HI71 | |||||
| HI71 | |||||
| KS32 | |||||
| KS32 | |||||
| MS17 | |||||
| MS17 | |||||
| ND52 | |||||
| ND52 | |||||
| ND52 | |||||
| WV63 | |||||
| WV63 | |||||
| Total | $ | ||||
3. Determine the cost of the inventory on August 31, 2014, by the weighted average cost method.
| Bulldog Appliances Cost of the Inventory-Weighted Average Method August 31, 2014 |
|||||
|---|---|---|---|---|---|
| Model | Quantity | Unit Cost | Total Cost | ||
| AZ09 | $ | $ | |||
| GA85 | |||||
| HI71 | |||||
| KS32 | |||||
| MS17 | |||||
| ND52 | |||||
| WV63 | |||||
| Total | $ | ||||
Jun 22 2020 View more View Less
Compute the IRR for each investment. The rate of return for Project A is ()(Round to one decimal? place.) The rate of return for Project B is ()(Round to one decimal? pl...
Apr 09 2020Discuss the role that insurance plays in the financial planning process. Why is it important to have enough life insurance?2. Define (a) risk avoidance, (b) loss preventi...
May 17 2020A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest of the adult population is out of the labor force. What’s ...
May 01 2020On August 15, you purchased 100 shares of stock in the Cara Cotton Company at $65 a share and a year later you sold it for $61 a share. During the year, you received divi...
Mar 30 2020is quiz only ONCE and you must complete it within 30 minute time limit. Quizzes are an individual exercise and you must do the OWN work. However, you may use your text or...
Dec 04 2019When the peace of tre decreases quantity demanded in the price elasticny of demand fortes and totale from a sales will Select one: a. inelastic; increase b. inelastic; de...
Apr 07 2021The BAHAI temple alias LOTUS Temple at Delhi is an example of
May 23 2020Bio Science Case studyA 30-year-old female demonstrated a subtle onset of the following symptoms: dull facial expression; droopy eyelids; puffiness of the face and perior...
Apr 07 2020Three bars made of copper, zinc and aluminium are of equal length and have cross-section 500, 750 and 1000 square mm respectively. They are rigidly connected at their end...
May 16 2020