Reading 35: Analysis of Inventories - LOS a ～ Q26-28

答案和详解如下：

26.What is the ending inventory level in dollars using the FIFO Method?

A)   $1,744.20.

B)   $1,836.00.

C)   $3,604.02.

D)   $4,142.00.

The correct answer was B)

Ending Inventory = 306 x 6 = $1,836.00.

27.Determine the Cost of Goods Sold using the Weighted Average Method and also using the First in First Out (FIFO) Method.

A)       $4,986.02                         $4,133.45

B)       $5,248.44                $4,351.00

C)       $4,351.00                  $5,248.44

D)       $6,160.00                         $5,930.00

The correct answer was B)

Weighted average = cost of goods available/total units available. COGS = Units sold x wt. ave = 806 x 6.51171 = $5,248.44.

FIFO COGS = (699 x 5) + (107 x 8) = $4,351.00.

28.What is the ending inventory level in dollars using the FIFO Method?

A)   $4,582.80.

B)   $4,824.00.

C)   $6,160.00.

D)   $5,248.44.

The correct answer was B)

Ending Inventory = 603 x 8 = $4,824.00.