financial-accounting

Inventory Costing Methods Crandall Distributors uses a abiding account arrangement and has the afterward abstracts accessible for inventory, purchases, and sales for a contempo year: Activity Units Purchase Price  (per unit) Sale Price  (per unit) Beginning inventory 110 $7.10 Purchase 1, Jan. 18 575 7.20 Sale 1 380 $12.00 Sale 2 225 12.00 Purchase 2, Mar. 10 680 7.50 Sale 3 270 12.00 Sale 4 290 12.50 Purchase 3, Sept. 30 230 7.70 Sale 5 240 12.50 Required: 1.  Compute the amount of catastrophe account and the amount of appurtenances awash application the specific identification method. Assume the catastrophe account is fabricated up of 40 units from alpha inventory, 30 units from Purchase 1, 80 units from Purchase 2, and 40 units from Purchase 3. Cost of catastrophe inventory $ Cost of appurtenances sold $ 2.  Compute the amount of catastrophe account and amount of appurtenances awash application the FIFO account costing method. Cost of catastrophe inventory $ Cost of appurtenances sold $ 3.  Compute the amount of catastrophe account and amount of appurtenances awash application the LIFO account costing method. Cost of catastrophe inventory $ Cost of appurtenances sold $ 4.  Compute the amount of catastrophe account and amount of appurtenances awash application the boilerplate amount account costing method. (Note: Use four decimal places for per-unit calculations and annular all alternative numbers to the abutting dollar.) Cost of catastrophe inventory $ Cost of appurtenances sold $

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