# Solved >   Ex. 219 Toso Company uses the periodic:1260832 …

##### Ex. 219

Toso Company uses the periodic inventory system to account for inventories. Information related to Toso Company’s inventory at October 31 is given below:

October1Beginning inventory400units @ ?10.00 =? 4,000

8Purchase800units @ ?10.40 =8,320

16Purchase600units @ ?10.80 =6,480

24Purchase   200units @ ?11.60 =      2,320

Total units and cost2,000units?21,120

Instructions

1.Show computations to value the ending inventory using the FIFO cost assumption if 550 units remain on hand at October 31.

2.Show computations to value the ending inventory using the weighted-average cost method if 550 units remain on hand at October 31.

a3.Show computations to value the ending inventory using the LIFO cost assumption if 550 units remain on hand at October 31.

##### Ex. 220

London Co. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sold.

UnitsUnit CostTotal Cost

May   1  Inventory35\$  8\$  280

15  Purchases3011330

24  Purchases  4012    480

Totals105\$1,090

Instructions
Compute the ending inventory at May 31 and cost of goods sold using the (1) FIFO and a(2) LIFO methods. Prove the amount allocated to cost of goods sold under each method.

##### Solution 220(20 min.)

(1) FIFO

Beginning inventory (35 X \$8)………………………………\$280

Purchases

May 15 (30 X \$11)……………………………………..\$330

May 24 (40 X \$12)………………………………………  480  810

Cost of goods available for sale……………………………..1,090

Cost of goods sold……………………………………..\$790

Proof

DateUnitsUnit CostTotal Cost

5/135\$   8 \$280

5/153011 330

5/241512   180

\$ 790

GraduateWriterHelp.com is an online academic writing platform that provides extensive assistance to graduate school students as they work through their research projects, papers and dissertations. GraduateWriterHelp.com gives students access to experienced professionals who can provide the help they need in a timely and efficient manner. The service offers a wide range of services, including editing, proofreading, formatting, researching and more that can give students the confidence they need to write the perfect paper or dissertation for their chosen subject matter.

GraduateWriterHelp.com offers a wealth of different services designed to make research projects easier for graduate school students. These include editing, proofreading, formatting and researching services, all tailored specifically for graduate-level studies such as PhDs or Master’s degrees in any field from business administration to engineering or even psychology – all with the aim of helping busy students find success in their academics without having to sacrifice other important commitments like family time or work hours towards earning a living wage outside of college hours.

This service allows users only pay for what students need, which tends to be much lower overall because customers pay per hour rather than project basis, thus resulting to greater financial flexibility, especially for those just starting out postgraduate studies looking to conserve some pennies here there whenever possible!

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors:
Number of pages
Urgency
Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

# Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

### Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.