A company’s inventory records report the following: August 1 Beginning balance 30 units @ $20 August...
A company’s inventory records report the following:
| August 1 | Beginning balance | 30 units @ $20 |
| August 5 | Purchase | 25 units @ $19 |
| August 12 | Purchase | 29 units @ $20 |
On August 15, it sold 60 units. Using the FIFO perpetual
inventory method, what is the value of the inventory at August 15
after the sale?
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A company’s inventory records report the following:
August 1
Beginning balance
30 units @ $20
August...
A company's inventory records report the following: August 1 August 5 August 12 Beginning balance Purchase...
A company's inventory records report the following: August 1 August 5 August 12 Beginning balance Purchase Purchase 31 units @ $21 26 units @ $20 30 units @ $21 On August 15, it sold 62 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale? 0 $1,425 0 $1,302 0 $525 0 $2,175 0 $545
A company’s inventory records report the following in November of the current year: Beginning November 1...
A company’s inventory records report the following in November of the current year: Beginning November 1 4 units @ $8 Purchase November 2 11 units @ $10 Purchase November 12 7 units @ $12 On November 8, it sold 13 units for $38 each. Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 13 units sold?
A company’s inventory records report the following in November of the current year: Beginning November 1...
A company’s inventory records report the following in November of the current year: Beginning November 1 4 units @ $5 Purchase November 2 11 units @ $7 Purchase November 12 7 units @ $9 On November 8, it sold 13 units for $35 each. Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 13 units sold?
2) ) Beginning inventory, purchases, and sales for Item HM46 are as follows: August 1 Inventory...
2)
)
Beginning inventory, purchases, and sales for Item HM46 are as follows: August 1 Inventory 59 units @ $25 9 Sale 47 units 13 Purchase 42 units @ $28 28 Sale 19 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on August 28 and (b) the inventory on August 31. a. Cost of merchandise sold on August 28 b. Inventory on August 31 Beginning inventory, purchases, and...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows:...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 56 units at $41 10 Sale 43 units 15 Purchase 31 units at $43 20 Sale 19 units 24 Sale 19 units 30 Purchase 37 units at $46 The business maintains a perpetual inventory system, costing by the first-in, first-out method. a. Determine the cost of the goods sold for each sale and the inventory balance after each sale, presenting the...
A company's inventory records report the following in November of the current year: Beginning November 1...
A company's inventory records report the following in November of the current year: Beginning November 1 5 units @ $20 Purchase November 2 10 units @ $22 Purchase November 12 6 units @ $25 On November 8, it sold 12 units for $54 each. Using the perpetual LIFO inventory method, what amount of gross profit was earned from the 12 units sold? $366 $577 $388 $438 $260
Iron Man began August with 75 units of iron inventory that cost $20 each. During August,...
Iron Man began August with 75 units of iron inventory that cost $20 each. During August, the company completed the following inventory transactions: (Click the icon to view the transactions.) i Data Table Units Unit Cost Unit Sales Price $ 59 Aug. 3 Sale 8 Purchase 21 Sale $ 28 70 60 75 30 Purchase Print Done Requirem Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare a perpetual inventory...
A company's inventory records report the following in November of the current year. Beginning Purchase Purchase...
A company's inventory records report the following in November of the current year. Beginning Purchase Purchase November 1 November 2 November 12 6 units @ $18 13 units @ $20 9 units @ $22 On November 8, it sold 15 units for $48 each. Using the perpetual LIFO inventory method, what was the amount recorded in the cost of goods sold account for the 15 units sold?
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: August...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: August 1 Inventory 54 units @ $20 9 Sale 37 units 13 Purchase 50 units @ $23 28 Sale 26 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on August 28 and (b) the inventory on August 31.
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: August...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: August 1 Inventory 76 units @ $23 9 Sale 62 units 13 Purchase 87 units @ $26 28 Sale 20 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on August 28 and (b) the inventory on August 31. a. Cost of merchandise sold on August 28 $ b. Inventory on August 31 $...
A company's inventory records report the following: August 1 August 5 August 12 Beginning balance Purchase Purchase 31 units @ $21 26 units @ $20 30 units @ $21 On August 15, it sold 62 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale? 0 $1,425 0 $1,302 0 $525 0 $2,175 0 $545
2)
)
Beginning inventory, purchases, and sales for Item HM46 are as follows: August 1 Inventory 59 units @ $25 9 Sale 47 units 13 Purchase 42 units @ $28 28 Sale 19 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on August 28 and (b) the inventory on August 31. a. Cost of merchandise sold on August 28 b. Inventory on August 31 Beginning inventory, purchases, and...
Iron Man began August with 75 units of iron inventory that cost $20 each. During August, the company completed the following inventory transactions: (Click the icon to view the transactions.) i Data Table Units Unit Cost Unit Sales Price $ 59 Aug. 3 Sale 8 Purchase 21 Sale $ 28 70 60 75 30 Purchase Print Done Requirem Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare a perpetual inventory...
A company's inventory records report the following in November of the current year. Beginning Purchase Purchase November 1 November 2 November 12 6 units @ $18 13 units @ $20 9 units @ $22 On November 8, it sold 15 units for $48 each. Using the perpetual LIFO inventory method, what was the amount recorded in the cost of goods sold account for the 15 units sold?
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