ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 45

2) Amsterdam Company uses a periodic inventory system.
For April, When the company sold 600 units, The following
information is available. calculate weighted average cost per
unit.

3) Arna, Inc. uses the dollar value LIFO method of
computing its inventory. Data for the past 3 year follow.
Compute the value of the 2014 and 2015 inventories using the
dollar-value LIFE method.

4) Craig Company asks you to review its December 31,
2014, inventory values and prepare the necessary adjustments to
the book. The following information is given to u. determine the
proper inventory balance for Craig Company at December 31,
2014.

5) Prepare any correcting entries to adjust inventory to its
proper amount at December 31, 2014. Assume the books have
not been closed.

6) The net income per books of Linda Patrick Company was
determined without knowledge of the errors indicated below.
Prepare work sheet to show the adjusted net income figure for
each of the 6 years after taking into account the inventory errors.