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Shown below is activity for one of the products of Denver 14 January 1 balance, 520...
Shown below is activity for one of the products of Denver Office Equipment: Doints Skipped January...
Shown below is activity for one of the products of Denver Office Equipment: Doints Skipped January 1 balance, 530 units e$55 $29,150 Purchases: January 530 units 10: $60 January 1,060 units @ $64 20: Sales: January 820 units 12: January 650 units 28: eBook Print References Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO. Ending inventory Cost of goods sold
Shown below is activity for one of the products of Denver Office Equipment: January 1 balance,...
Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 680 units @ $55 per unit $37,400 Purchases: January 10: 680 units @ $60 per unit January 20: 1,190 units @ $62 per unit Sales: January 12: 850 units January 28: 820 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a perpetual inventory system. (Do not round intermediate calculations. Round your...
Shown below is activity for one of the products of Denver Office Equipment: bints eBook January...
Shown below is activity for one of the products of Denver Office Equipment: bints eBook January 1 balance, 540 units e$50 $27,000 Purchases: January 540 units @ $55 10: January 1,020 units $56 20: Sales: January 910 units 12: January 790 units 28: Print References Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a perpetual inventory system. Ending inventory Cost of goods sold
2. Shown below is activity for one of the products of Weasel: January 1 balance, 220...
2. Shown below is activity for one of the products of Weasel: January 1 balance, 220 units at $50 for a total of $11,000 Purchases: January 10-200 units at $42 January 20-500 units at $55 Sales: January 12-350 units January 28-425 units a. Compute the ending inventory and cost of goods sold assuming Weasel uses FIFO. b. Compute the ending inventory and cost of goods sold assuming Weasel uses LIFO and perpetual inventory system. c. Compute the ending inventory...
Shown below is activity for one of the products of Denver Office Equipment: January 1 balance,...
Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 560 units @ $56 per unit $31, 360 Purchases: 560 units @ $61 per unit 10: January 1,120 units @ $65 per unit 20: Sales: January 940 units 12: 810 units 28: Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a perpetual inventory system. (Do not round intermediate calculations. Round your final...
Use the following to answer the questions 6. 7. 8 and 9 helow:ni 1t h Shown...
Use the following to answer the questions 6. 7. 8 and 9 helow:ni 1t h Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 500 units @$55= $27,500 Purchases: January 10: 500 units @ $60 January 20: 1,000 units @ $63 Sales: January 12: 800 units January 28: 750 units the fo of cos ble 6) Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses...
Assume that a retailer's beginning inventory and purchases of a popular item during January included (1)...
Assume that a retailer's beginning inventory and purchases of a popular item during January included (1) 370 units at $770 in beginning inventory on January 1 (2) 520 units at $8.70 purchased on January 8, and (3) 820 units at $970 purchased on January 29 The company sold 420 units on January 12 and 620 units on January 30 Required: 1. Calculate the cost of goods sold for the month of January under a FIFO (periodic calculation) () FIFO (perpetual...
Shown below is the activity for one of the products of Random Creations: January 1 balance,...
Shown below is the activity for one of the products of Random Creations: January 1 balance, 80 units @ $50 $4,000 Purchases: January 18: 40 units @ $51 January 28: 40 units @ 52 Sales: January 12: 30 units January 22: 30 units January 31: 45 units Require: Calculate the ending inventory and COGS, using Average Cost under the perpetual inventory system. **I specifically don't know how to calculate what the average costs would be that you'd multiply to the...
Required information [The following information applies to the questions displayed below. A company reports the following...
Required information [The following information applies to the questions displayed below. A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 270 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 240 60 100 Unit Cost $ 2.20 2.40 2.54 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when...
Required information [The following information applies to the questions displayed below.) In its first month of...
Required information [The following information applies to the questions displayed below.) In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 260 units at $9 on January 1, (2) 520 units at $10 on January 8, and (3) 820 units at $11 on January 29. Assume 1,000 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and...
Shown below is activity for one of the products of Denver Office Equipment: Doints Skipped January 1 balance, 530 units e$55 $29,150 Purchases: January 530 units 10: $60 January 1,060 units @ $64 20: Sales: January 820 units 12: January 650 units 28: eBook Print References Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO. Ending inventory Cost of goods sold
Shown below is activity for one of the products of Denver Office Equipment: bints eBook January 1 balance, 540 units e$50 $27,000 Purchases: January 540 units @ $55 10: January 1,020 units $56 20: Sales: January 910 units 12: January 790 units 28: Print References Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a perpetual inventory system. Ending inventory Cost of goods sold
Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 560 units @ $56 per unit $31, 360 Purchases: 560 units @ $61 per unit 10: January 1,120 units @ $65 per unit 20: Sales: January 940 units 12: 810 units 28: Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses average cost and a perpetual inventory system. (Do not round intermediate calculations. Round your final...
Use the following to answer the questions 6. 7. 8 and 9 helow:ni 1t h Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 500 units @$55= $27,500 Purchases: January 10: 500 units @ $60 January 20: 1,000 units @ $63 Sales: January 12: 800 units January 28: 750 units the fo of cos ble 6) Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses...
Assume that a retailer's beginning inventory and purchases of a popular item during January included (1) 370 units at $770 in beginning inventory on January 1 (2) 520 units at $8.70 purchased on January 8, and (3) 820 units at $970 purchased on January 29 The company sold 420 units on January 12 and 620 units on January 30 Required: 1. Calculate the cost of goods sold for the month of January under a FIFO (periodic calculation) () FIFO (perpetual...
Required information [The following information applies to the questions displayed below. A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 270 units. Ending inventory at January 31 totals 130 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 240 60 100 Unit Cost $ 2.20 2.40 2.54 Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when...
Required information [The following information applies to the questions displayed below.) In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 260 units at $9 on January 1, (2) 520 units at $10 on January 8, and (3) 820 units at $11 on January 29. Assume 1,000 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and...
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