Homework Answers
a) Average cost
| June 1 Sale | 30*13 = 390 |
| Aug 27 Sale | (30*13+45*18)/75*45 = 720 |
b) Calculate cost of goods sold
| FIFO | LIFO | Average cost | |
| Cost of good sold | (60*13+15*18) = 1050 | (30*13+45*18) = 1200 | 390+720 = 1110 |
Add Answer to:
Question 2 View Policies Show Attempt History Current Attempt in Progress Marin Inc. uses a perpetual...
faWileyPLUS Assignments Question 6 of 6 0.67 / 1 View Policies Show Attempt History Current Attempt...
faWileyPLUS Assignments Question 6 of 6 0.67 / 1 View Policies Show Attempt History Current Attempt in Progress Blossom Company had a beginning inventory of 115 units of Product RST at a cost of $7 per unit. During the year, purchases were: 490 units at Feb. 20 May 5 690 590 units at units at $8 $9 Aug. 12 Dec. 8 $10 $11 115 units at Blossom uses a periodic inventory system. Sales totaled 1,530 units. Your answer is correct....
View Policies Current Attempt in Progress You have the following information for Waterway Industries for the...
View Policies Current Attempt in Progress You have the following information for Waterway Industries for the month ended October 31, 2022. Waterway uses a periodic method for inventory Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory $26 70 125 Oct. 9 Purchase Oct. 11 Sale Oct. 17 Purchase Oct. 22 Sale Oct. 25 Purchase Oct. 29 Sale Calculate the weighted average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average cost per unit $...
Question 5 View Policies Show Attempt History Current Attempt in Progress Concord Corporation had a beginning...
Question 5 View Policies Show Attempt History Current Attempt in Progress Concord Corporation had a beginning inventory of 115 units of Product RST at a cost of $9 per unit. During the year, purchases were: Feb. 20 640 units at $10 Aug. 12 450 units at $12 May 5 580 units at $11 Dec. 8 115 units at $13 Concord uses a periodic inventory system. Sales totaled 1.520 units. Your answer is correct. Determine the cost of goods available for...
View Policies Current Attempt in Progress Marin Inc. uses a periodic inventory system. Its records show...
View Policies Current Attempt in Progress Marin Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold. Date Explanation Units Unit Cost 35 May 1 15 Inventory Purchase Total Cost $350 275 24 Purchase 480 $1,105 Total Calculate the weighted average unit cost. (Round answer to 3 decimal places, s. 5.125.) Weighted average unit cost $ eTextbook and Media Calculate the ending inventory at May 31 using the...
Question 2 View Policies Current Attempt in Progress You have the following information for Kingbird, Inc....
Question 2 View Policies Current Attempt in Progress You have the following information for Kingbird, Inc. for the month ended October 31, 2022. Kingbird uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory Oct. 9 Purchase Oct. 11 Sale Oct. 17 Purchase Oct. 22 Sale Oct. 25 Purchase Oct. 29 Sale Calculate the weighted average cost. (Round answer to 3 decimal places, e.g. 5.125.) Calculate ending inventory, cost of goods sold,...
Question 2 View Policies Current Attempt in Progress You have the following information for Marigold Corp....
Question 2 View Policies Current Attempt in Progress You have the following information for Marigold Corp. for the month ended October 31, 2022. Marigold uses a periodic method for inventory Unit Cost or Selling Price Units 55 Date Description Oct 1 Beginning inventory Oct 9 Purchase Oct. 11 Sale Oct 17 Purchase Oct 22 Sale Oct. 25 Purchase Oct. 29 Sale Calculate the weighted average cost. (Round answer to 3 decimal places, e... 5.125.) Weighted average cost per units e...
Question 2 View Policies Current Attempt in Progress Marin Inc. uses a perpetual inventory system reports...
Question 2 View Policies Current Attempt in Progress Marin Inc. uses a perpetual inventory system reports the following for the month of June. PLUS Date Explanation Units Unit Cost Total Cost June 1 Inventory $520 brary 130 390 12 Purchases 5 1,950 lum Purchases 1,320 30 Inventory Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 450 units occurred on June 15 for a selling price of $7 and a sale of 55 units...
Current Attempt in Progress Crane Company had a beginning inventory of 100 units of Product RST...
Current Attempt in Progress Crane Company had a beginning inventory of 100 units of Product RST at a cost of $7 per unit. During the year, purchases were: Feb. 20 May 600 units at $8 525 units at $9 Aug. 12 425 units at $10 Dec.8 100 units at $11 Crane uses a periodic inventory system. Sales totaled 1,500 units. Determine the cost of goods available for sale The cost of goods available for sale $ 16175 Calculate Average Cost....
Average cost Question 2 View Policies Show Attempt History Current Attempt in Progress Sandhill Co. had...
Average cost
Question 2 View Policies Show Attempt History Current Attempt in Progress Sandhill Co. had a beginning inventory of 99 units of Product RST at a cost of $8 per unit. During the year, purchases wer Feb 20 636 units at $9 May 5 520 units at $10 Aug. 12 400 units at $11 Dec. 8 90 units at $12 Sandhill Couses a periodic inventory system. Sales totaled 1.460 units. Your answer is correct. (a) Determine the cost of...
Current Attempt in Progress Buffalo Industries uses a periodic inventory system and reports the following for...
Current Attempt in Progress Buffalo Industries uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchases 370 2,220 Purchases 225 1,575 Inventory 250 Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost $ e Textbook and Media Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and...
faWileyPLUS Assignments Question 6 of 6 0.67 / 1 View Policies Show Attempt History Current Attempt in Progress Blossom Company had a beginning inventory of 115 units of Product RST at a cost of $7 per unit. During the year, purchases were: 490 units at Feb. 20 May 5 690 590 units at units at $8 $9 Aug. 12 Dec. 8 $10 $11 115 units at Blossom uses a periodic inventory system. Sales totaled 1,530 units. Your answer is correct....
View Policies Current Attempt in Progress You have the following information for Waterway Industries for the month ended October 31, 2022. Waterway uses a periodic method for inventory Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory $26 70 125 Oct. 9 Purchase Oct. 11 Sale Oct. 17 Purchase Oct. 22 Sale Oct. 25 Purchase Oct. 29 Sale Calculate the weighted average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average cost per unit $...
Question 5 View Policies Show Attempt History Current Attempt in Progress Concord Corporation had a beginning inventory of 115 units of Product RST at a cost of $9 per unit. During the year, purchases were: Feb. 20 640 units at $10 Aug. 12 450 units at $12 May 5 580 units at $11 Dec. 8 115 units at $13 Concord uses a periodic inventory system. Sales totaled 1.520 units. Your answer is correct. Determine the cost of goods available for...
View Policies Current Attempt in Progress Marin Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold. Date Explanation Units Unit Cost 35 May 1 15 Inventory Purchase Total Cost $350 275 24 Purchase 480 $1,105 Total Calculate the weighted average unit cost. (Round answer to 3 decimal places, s. 5.125.) Weighted average unit cost $ eTextbook and Media Calculate the ending inventory at May 31 using the...
Question 2 View Policies Current Attempt in Progress You have the following information for Kingbird, Inc. for the month ended October 31, 2022. Kingbird uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory Oct. 9 Purchase Oct. 11 Sale Oct. 17 Purchase Oct. 22 Sale Oct. 25 Purchase Oct. 29 Sale Calculate the weighted average cost. (Round answer to 3 decimal places, e.g. 5.125.) Calculate ending inventory, cost of goods sold,...
Question 2 View Policies Current Attempt in Progress You have the following information for Marigold Corp. for the month ended October 31, 2022. Marigold uses a periodic method for inventory Unit Cost or Selling Price Units 55 Date Description Oct 1 Beginning inventory Oct 9 Purchase Oct. 11 Sale Oct 17 Purchase Oct 22 Sale Oct. 25 Purchase Oct. 29 Sale Calculate the weighted average cost. (Round answer to 3 decimal places, e... 5.125.) Weighted average cost per units e...
Question 2 View Policies Current Attempt in Progress Marin Inc. uses a perpetual inventory system reports the following for the month of June. PLUS Date Explanation Units Unit Cost Total Cost June 1 Inventory $520 brary 130 390 12 Purchases 5 1,950 lum Purchases 1,320 30 Inventory Calculate the average cost per unit, using a perpetual inventory system. Assume a sale of 450 units occurred on June 15 for a selling price of $7 and a sale of 55 units...
Current Attempt in Progress Crane Company had a beginning inventory of 100 units of Product RST at a cost of $7 per unit. During the year, purchases were: Feb. 20 May 600 units at $8 525 units at $9 Aug. 12 425 units at $10 Dec.8 100 units at $11 Crane uses a periodic inventory system. Sales totaled 1,500 units. Determine the cost of goods available for sale The cost of goods available for sale $ 16175 Calculate Average Cost....
Average cost
Question 2 View Policies Show Attempt History Current Attempt in Progress Sandhill Co. had a beginning inventory of 99 units of Product RST at a cost of $8 per unit. During the year, purchases wer Feb 20 636 units at $9 May 5 520 units at $10 Aug. 12 400 units at $11 Dec. 8 90 units at $12 Sandhill Couses a periodic inventory system. Sales totaled 1.460 units. Your answer is correct. (a) Determine the cost of...
Current Attempt in Progress Buffalo Industries uses a periodic inventory system and reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 130 $5 $650 12 Purchases 370 2,220 Purchases 225 1,575 Inventory 250 Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost $ e Textbook and Media Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and...
Most questions answered within 3 hours.
-
The population standard deviation for the height of college
basketball players is 3.4 inches. If we...
asked 1 minute ago -
6.) Use valence bond theory to describe the number and types of
hybrid bonding orbitals on...
asked 3 minutes ago -
2. Define/explain the following traits that are important
adaptations for different types of vertebrate animals:
Jaws...
asked 4 minutes ago -
Firm K produced 45,000 radios using 9,000 hours of labor in
2003; total labor costs were...
asked 4 minutes ago -
Use the information in the table to answer the
question.
Year
2015
2016
2017
2018
Nominal...
asked 9 minutes ago -
Kelso Corporation just paid a dividend of D_0 = $1.50 per
share, and that dividend is...
asked 10 minutes ago -
Your ANOVA was statistically significant (Reject the
H0). The groups had a means of:
Group A:...
asked 17 minutes ago -
In cases of negative frequency-dependent selection, _______
phenotype typically has _______ fitness
A
the least common...
asked 19 minutes ago -
Class: Criminal Law
Question: Explain the difference between
aggravating and mitigating factors.
asked 24 minutes ago -
#I want you please to explain why the answer for Q10 is ( C )
?...
asked 24 minutes ago -
An island economy consumes only jellybeans, running shoes,
Pepsi, and Vanilla ice compact discs. The base...
asked 28 minutes ago -
On September 1, Ziegler Corporation had 50,000 shares of $5 par
value common stock, and $1,500,000...
asked 29 minutes ago