accounting

posted by .

Kudos Leather Goods purchased the following items during the month of April:
1. April 12, 34 wallets @ $12.95 each
2. April 08, 24 wallets @ $13.10 each
3. April 18, 15 wallets @ $13.25 each
4. April 26, 20 wallets @ $13.27 each
On April 1, the business had an inventory of 19 wallets valued at $12.90 each. On April 30, the business had 36 wallets in inventory. Of those wallets, 8 were purchased on April 2, 15 were purchased on April 8, 3 were purchased on April 18, and 10 were purchased on April 26.
Calculate the cost of the ending inventory using the following methods:
a. Specific identification method
b. FIFO method
c. LIFO method
d. Weighted average cost method
Also, find the cost of merchandise sold under each method.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Earth Science

    This is the raw data we got from the river: The mins it took the tongue depressor to float from point a to b and the depth of the river on those days. Using area x velocity, I need to calculate the discharge results for the following …
  2. accounting

    Part 5 Cash Budgeting Landis Company has the following sales forecasts for the selected three-month period in the current year: Month Sales April $12,000 May 7,000 June 8,000 Seventy percent of sales are collected in the month of the …
  3. accounting

    Kudos Leather Goods purchased the following items during the month of April: 1. April 12, 34 wallets @ $12.95 each 2. April 08, 24 wallets @ $13.10 each 3. April 18, 15 wallets @ $13.25 each 4. April 26, 20 wallets @ $13.27 each On …
  4. Accounting

    Journalize the following transactions and omit the explanations. A. ABC Corporation purchased $15,000 of office furniture by putting $7,000 down in cash and the rest on account on April 8. B. The corporation paid $60,000 for a two-year …
  5. Urgent!

    Project: Data Analysis The following chart lists the average low, average high, record low, and record high temperatures for the month of April in Denver, Colorado. Day Average Low Average High Record Low Record High April 1 32°F …
  6. Help Somebody please.

    Project: Data Analysis The following chart lists the average low, average high, record low, and record high temperatures for the month of April in Denver, Colorado. Day Average Low Average High Record Low Record High April 1 32°F …
  7. Pleaseeeeeeeee Help me

    Project: Data Analysis The following chart lists the average low, average high, record low, and record high temperatures for the month of April in Denver, Colorado. Day Average Low Average High Record Low Record High April 1 32°F …
  8. FND 154 Fundamentals of Accounting

    Harwick Company Exercise 5-2 1. on April 5, purchased merchandise from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2. on April 6, paid freight costs of $900 on merchandise purchased from Botham. 3.on April 7, …
  9. math

    The account balance on April 1st is $50.51. On April 15th a payment of $15.00 is made. On April 25th a purchase of $19.27 is made. What is the finance charge if the annual rate is 18%?
  10. ACCOUNTING

    On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104. On April 20, 5,000 shares of common stock were issued in exchange for land. The stock …

More Similar Questions