Pe Invertory System with Different Cost Formulas
Fresh Wholesale buys peaches from farmers and sells them to canneries. During May 2017, Freshs
inventory records showed the following:
Cases Price
May 1 ming inventory 和人 5,100 4&10.50
4 Purchase 2 同 1,210 12.00
9 Sae.. 1020 19.65
13 Purchase 1050 12.50
細人“全 1,750 19.65
26 Purchase ? 2,120 13.00
30 Sale 2,340 19.65
tem to account for its inventory, which means that I
Fresh Wholesale uses the periodic inventory sys
iod no matter'when they actually occurred.
sales are assumed to occur at the end of the pe
Reqgujred:
Calculate the cost of good
unit costs to the nearest cent)
1 FIFO
2. Weighted average cost
g the following cost formulas. (Calculate
is sold and ending inventory usin
Jen IFO and Weiqghted Averaoe