Vista Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $8 per unit. During the year, purchases were: Feb. 20 600 units at $9 Aug 12 400 $11 May 5 500 units at $10 $12 Ending inventory Vista Company uses a periodic inventory system Sales totaled 1,500 units. Cost of goods sold Dec. 8 Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to O decimal places, eg 150) $ 100 FIFO units at units at LIFO $ AVERAGE-COST

Vista Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $8 per unit. During the year, purchases were: Feb. 20 600 units at $9 Aug 12 400 $11 May 5 500 units at $10 $12 Ending inventory Vista Company uses a periodic inventory system Sales totaled 1,500 units. Cost of goods sold Dec. 8 Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to O decimal places, eg 150) $ 100 FIFO units at units at LIFO $ AVERAGE-COST

Name: Vista Company Inc. had a beginning inventory of 100 units of Product
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Description: Vista Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $8 per unit. During the year, purchases were:Aug 12Dec. 8Feb. 20 600May 5500units atEnding inventoryunits atCost of goods sold$9$10$Vista Company uses a periodic i

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 3RE: Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of...

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