Periodic inventory system

by | Aug 17, 2021 | Assignment

Questions 8-13 have the same information: Cyclone Co. uses the periodic inventory system and sells Mountain Bicycles. They had 50 bicycles in the beginning inventory on January 1 which cost them $800 per bike. They purchased 80 more bicycles on April 12 at a cost of $820 per bike. They purchased another 75 bikes on July 8 at a cost of $840 per bike. On September 22 they purchased another 90 bicycles at a unit cost of $850. During the year, 235 bicycles were sold at a price of $1,500 each. Other operating costs equaled $80,000 and their tax rate is 30%. What was ending inventory and cost of goods sold on 12/31 under the FIFO cost flow assumption?

Get your custom paper done at low prices


275 words/page


Double spacing


Free formatting (APA, MLA, Chicago, Harvard and others)


12 point Arial/Times New Roman font


Free title page


Free bibliography & reference


What Students Are Saying

Outstanding, thank you very much.

Undergraduate Student

English, Literature

Awesome. Will definitely use the service again.

Master's Student

Computer Science