8/2/2019 Assignment 6 Probs

1/1

Assignment Six Problems

Problem One: BE6-1 on page 278, and explain your answers.

Problem Two: BE6-8 on page 279, and also

1) Calculate the cost of inventory and goods sold under the FIFO and weighted average costflow assumptions, assuming the periodic inventory system is used. Are your calculations the

same as or different from your calculations under the perpetual system? If they are

different, explain why.

2) Provide two reasons why FIFO arguably provides a more faithful representation forinventory on the Balance Sheet date.

Problem Three: BYP6-2 on page 293.

Problem Four: P7-5A on page 338.