Jan-Con Company Provides the Following Information for the Month of August

question 124

Essay

Jan-Con Company provides the following information for the month of August. $\begin{array} { | l | l | c | c | c | } \hline \text { Date } & & \text { Units } & \$ \text { Unit } & \text { Total } \\\hline \text { Aug 1 } & \text { Opening inventory } & 40 & \$ 30 & \$ 1,200 \\\hline \text { Aug 3 } & \text { Purchase } & 60 & \$ 35 & \$ 2,100 \\\hline \text { Aug 10 } & \text { Sale } & 100 & \$ 60 & \$ 6,000 \\\hline \text { Aug 22 } & \text { Purchase } & 90 & \$ 40 & \$ 3,600 \\\hline \text { Aug 24 } & \text { Sale } & 70 & \$ 70 & \$ 4,900 \\\hline\end{array}$ Required:
(a)What is the value of the ending inventory assuming the company uses a periodic inventory system and the weighted-average method?
(b)What is the cost of goods sold if the company uses a perpetual inventory system and the FIFO method of valuing inventory?
(c)What is the cost of goods sold if the company uses a perpetual inventory system and the weighted average method of valuing inventory?

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Definitions:

Sociological Theories

Frameworks for understanding how society operates, influencing the relationships, social behaviors, and cultures within it.

Women's Criminal Involvements

The participation or engagement of women in activities that violate criminal laws or judicial statutes.

Crime Rates

Statistical measures of the incidence of criminal offenses within a specified period, typically expressed per 100,000 population.

Criminogenics

Factors believed to cause or contribute to criminal behavior.