Shellhammer Company's inventory records show the following data for the month of September: Units Unit Cost...
Shellhammer Company's inventory records show the following data
for the month of September:
| Units | Unit Cost | |||||||
| Inventory, | September 1 | 100 | $3.34 | |||||
| Purchases: | September 8 | 450 | 3.50 | |||||
| September 18 | 350 | 3.70 | ||||||
A physical inventory on September 30 shows 200 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses LIFO inventory costing and a periodic inventory
system.
| Ending inventory | $
|
||
| Cost of goods sold | $
|
Homework Answers
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Shellhammer Company's inventory records show the following data
for the month of September:
Units
Unit Cost...
Bramble Company's inventory records show the following data for the month of September: Units Unit Cost...
Bramble Company's inventory records show the following data for
the month of September:
Units
Unit Cost
Inventory,
September 1
100
$2.85
Purchases:
September 8
440
3.50
September 18
300
4.00
A physical inventory on September 30 shows 160 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses LIFO inventory costing and a periodic inventory
system.
Ending inventory
$enter a value of ending inventory in dollars
Cost of goods sold
$enter a...
Bridgeport Company's inventory records show the following data for the month of September: Units Unit Cost...
Bridgeport Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 90 $2.85 Purchases: September 8 460 $3.50 September 18 300 $3.90 A physical inventory on September 30 shows 160 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system. Ending inventory: $ enter a value of ending inventory in dollars Cost of goods sold: $...
Grouper Company's inventory records show the following data for the month of September: Units Unit Cost...
Grouper Company's inventory records show the following data for the month of September: Units Unit Cost $3.20 Inventory, September 1 Purchases: September 8 460 3.60 September 18 300 3.70 A physical inventory on September 30 shows 150 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. Ending inventory $ Cost of goods sold $
Hess Company's inventory records show the following data for the month of September:
UnitsUnit CostInventory,September 1100$3.00Purchases:September 84503.50September 183003.70A physical inventory on September 30 shows 150 units on hand.Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system.
Blue Spruce Company's inventory records show the following data for the month of September: Units Unit...
Blue Spruce Company's inventory records show the following data
for the month of September:
Units
Unit Cost
Inventory,
September 1
95
$2.80
Purchases:
September 8
445
3.40
September 18
300
3.90
A physical inventory on September 30 shows 150 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses FIFO inventory costing and a periodic inventory
system.
Ending inventory
$enter a value of ending inventory in dollars
Cost of goods sold
$enter...
Part II: Problems (40 points) Shellhammer Company's inventory records show the following data for the month...
Part II: Problems (40 points) Shellhammer Company's inventory records show the following data for the month of September: Units Unit Cost Beg. Inventory (9/1) 53.35 Purchases: September 8 400 3.50 September 18 250 3.70 100 A physical inventory count on September 30 shows 200 units on hand. نه لري دي Calculate cost of goods sold if the company uses FIFO inventory costing (10) b. Calculate cost of goods sold if the company uses LIFO inventory costing (10)
CALCU Brief Exercise 196 x Your answer is incorrect. Try again. Blue Spruce Company's inventory records show the fo...
CALCU Brief Exercise 196 x Your answer is incorrect. Try again. Blue Spruce Company's inventory records show the following data for the month of September: Inventory, September 1 Purchases: September 8 September 18 Units Unit Cost 80 $2.90 450 3.50 300 3.90 A physical inventory on September 30 shows 140 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system. Ending inventory Cost of...
-8. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000...
-8. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.25 A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. What is the cost of goods available for sale? a. $170,700 b. $178,500 c. $207,500 d. $300,000
12. Henri Company's inventory records show the following dala Units Unit Cost Inventory, January 1 10,000...
12. Henri Company's inventory records show the following dala Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.25 A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. What is the difference in taxes if LIFO rather than FIFO is used?
10. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000 $9.20 Pu...
10. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.25 A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. The weighted average cost per unit is
Bramble Company's inventory records show the following data for
the month of September:
Units
Unit Cost
Inventory,
September 1
100
$2.85
Purchases:
September 8
440
3.50
September 18
300
4.00
A physical inventory on September 30 shows 160 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses LIFO inventory costing and a periodic inventory
system.
Ending inventory
$enter a value of ending inventory in dollars
Cost of goods sold
$enter a...
Grouper Company's inventory records show the following data for the month of September: Units Unit Cost $3.20 Inventory, September 1 Purchases: September 8 460 3.60 September 18 300 3.70 A physical inventory on September 30 shows 150 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. Ending inventory $ Cost of goods sold $
Blue Spruce Company's inventory records show the following data
for the month of September:
Units
Unit Cost
Inventory,
September 1
95
$2.80
Purchases:
September 8
445
3.40
September 18
300
3.90
A physical inventory on September 30 shows 150 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses FIFO inventory costing and a periodic inventory
system.
Ending inventory
$enter a value of ending inventory in dollars
Cost of goods sold
$enter...
Part II: Problems (40 points) Shellhammer Company's inventory records show the following data for the month of September: Units Unit Cost Beg. Inventory (9/1) 53.35 Purchases: September 8 400 3.50 September 18 250 3.70 100 A physical inventory count on September 30 shows 200 units on hand. نه لري دي Calculate cost of goods sold if the company uses FIFO inventory costing (10) b. Calculate cost of goods sold if the company uses LIFO inventory costing (10)
CALCU Brief Exercise 196 x Your answer is incorrect. Try again. Blue Spruce Company's inventory records show the following data for the month of September: Inventory, September 1 Purchases: September 8 September 18 Units Unit Cost 80 $2.90 450 3.50 300 3.90 A physical inventory on September 30 shows 140 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system. Ending inventory Cost of...
-8. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.25 A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. What is the cost of goods available for sale? a. $170,700 b. $178,500 c. $207,500 d. $300,000
12. Henri Company's inventory records show the following dala Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.25 A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. What is the difference in taxes if LIFO rather than FIFO is used?
10. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.25 A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. The weighted average cost per unit is
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