Connect Assignment Que points xercise 627 Basic Cost Flow Mo

Connect Assignment Que points xercise 6-27 Basic Cost Flow Model (LO 6-3) ill in the missing items for the following inventories Beginning balance Ending balance Transferred in Transferred out S 39,000$21,300 18,600 66,000 50,000 52,000 54,000 32.000 70,000 Reterences eBook & Resources Worksheet Dimiculty 2 Medium Exercise 6-27 Basic Cost Flow Model (LO 6-3) Leaming Objective: 06-03 Explain how a basic pro system works

Solution

Case A:

Ending Inventory = Beginning Inventory + Transferred In - Transferred Out
$32,000 = $39,000 + Transferred In - $70,000
Transferred In = $63,000

Case B:

Ending Inventory = Beginning Inventory + Transferred In - Transferred Out
$18,600 = $21,300 + $66,000 - Transferred Out
Transferred Out = $68,700

Case C:

Ending Inventory = Beginning Inventory + Transferred In - Transferred Out
$50,000 = Beginning Inventory + $52,000 - $54,000
Beginning Inventory = $52,000