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Problem 1
Problem 1
You are able to gather the following information by examining various documents:
12 150,000 0.41
16 120,000 0.42
17 150,000 0.45
Problem 2: The following data are extracted from the records of AIG Inc. relating to an inventory
item.
Under perpetual system-moving average method, what is the cost of goods sold & Ending Inventory
for January?
Problem 3: Company is a wholesaler of office supplies. The activity for inventory of calculators
during August is shown below:
Units Cost
12 Sale 10,000
24 Sale 20,000
If CITI Company uses a Average periodic inventory system, what is the cost of goods sold and Ending
Inventory for August?
Problem 4: SUITS Inc. incurred the following costs related to its inventories:
Problem 5: ARROW Inc. provided the following data concerning its inventories:
Raw materials in transit from a supplier with FOB Shipping point 2,000,000
What is the total inventory to be presented in the Statement of Financial Position of ARROW Inc.?