题目
题目

BU.210.620.W5.FA24 Mock-Quiz II

数值题

KLA Inc. began business on January 1, 2015 and uses a perpetual inventory system.  The following information was taken from KLA’s inventory records for the month of January 2015.                                                                                     Units                           Unit Cost               1/3/20x5 Purchase                                  5,000                         $9.77               1/7/20x5 Sale ($20 per unit)                 2,500               1/26/20x5 Purchase                               3,700                          10.71               1/30/20x5 Sale ($20 per unit)               3,200   How much higher or lower would KLA’s January 2005 COGS be if they choose LIFO over average cost?

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Question restatement: KLA Inc. uses a perpetual inventory system. For January 2015, purchases and sales occurred as follows: 1/3/20x5: 5,000 units at $9.77; 1/7/20x5 sale of 2,500 units; 1/26/20x5: purchase of 3,700 units at $10.71; 1/30/20x5 sale of 3,200 units. The task is to determine how much higher or lower January 2005 COGS would be if LIFO were used instead of the average cost method. Step 1: Compute COGS under LIFO. - The 1/7 sale of 2,500 units occurs first,......Login to view full explanation

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For which type of inventory would a company most likely use the specific identification method of inventory costing?

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