6-10. TWU, Inc uses a perpetual inventory system. Date Units Costs Total costs Sept. 1 Beginning inventory 200 $5/unit $ 1,000 4 Sales (price $15/unit) 100 22 Purchased 600 $6/unit 3,600 26 Sales (pri
6-10. TWU, Inc uses a perpetual inventory system.
Date |
| Units | Costs | Total costs |
Sept. 1 | Beginning inventory | 200 | $5/unit | $ 1,000 |
4 | Sales (price $15/unit) | 100 |
|
|
22 | Purchased | 600 | $6/unit | 3,600 |
26 | Sales (price $15/unit) | 500 |
|
|
Sept. 30 | Ending inventory | 200 |
|
|
6. If TWU, Inc uses the FIFO method, how much is cost of goods sold for September?
a. | $3,400 |
b. | $3,430 |
c. | $3,500 |
d. | $9,000 |
7. If TWU, Inc uses the FIFO method, how much is ending inventory for September?
a. | $3,400 |
b. | $4,600 |
c. | $1,200 |
d. | $1,100 |
8. If TWU, Inc uses the LIFO method, how much is cost of goods sold for September?
a. | $3,400 |
b. | $3,430 |
c. | $3,500 |
d. | $9,000 |
9. If TWU, Inc uses the LIFO method, how much is ending inventory for September?
a. | $3,400 |
b. | $4,600 |
c. | $1,200 |
d. | $1,100 |
10. If TWU, Inc uses the average cost method, how much is cost of goods sold for Septembe r? (Round to two decimal points)
a. | $3,400 |
b. | $3,430 |
c. | $3,500 |
d. | $9,000 |
11 years ago
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