Homework Answers
Total cost = (520*2.31)+(380*2.66) = 2212
Total units = 520+380 = 900
Average cost per unit = 2212/900 = 2.4578
Ending inventory = (900-550)*2.4578
= 860
Option A is the answer
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Date Transaction July 1 Beginning inventory July 25 Purchase Number of Units 520 380 Unit Cost...
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Number Unit Transaction of Units Date Cost Mar. 1 Beginning inventory 1,030 $7.17 Mar.10 Purchase 520 7.67 Mar. 16 Purchase 388 8.27 Mar.23 Purchase 500 8.97 Marvin sold 1,810 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $1,319 $9,275 $5,544 $7,385
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Inventory records for Marvin Company revealed the following: Date Transaction Mar. 1 Beginning inventory Mar.10 Purchase...
Inventory records for Marvin Company revealed the following: Date Transaction Mar. 1 Beginning inventory Mar.10 Purchase Mar.16 Purchase Mar.23 Purchase Number of Units 1,080 570 900 550 Unit Cost $7.14 7.31 7.48 17.66 Marvin sold 2,000 units of inventory during the month. Cost of goods sold assuming weighted-average cost would be: (Do not round your intermediate calculations and round your final answer to nearest dollar amount. Round weighted-average unit cost to 4 decimals if necessary.)
Date Transaction Apr. 1 Beginning inventory Apr.20 Purchase Number of Units 400 410 Unit Cost $2.47...
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Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost Mar....
Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost Mar. 1 Beginning Inventory 1,000 $ 7.20 Mar. 10 Purchase 600 7.25 Mar. 16 Purchase 800 7.30 Mar. 23 Purchase 600 7.35 Marvin sold 2,300 units of inventory during the month. Ending inventory assuming LIFO would be: 2. Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost Mar. 1 Beginning inventory 990 $ 7.29 Mar. 10 Purchase 580 7.79...
Date Transaction Apr. 1 Beginning inventory Apr.20 Purchase Number of Units 400 340 Unit Cost $2.12...
Date Transaction Apr. 1 Beginning inventory Apr.20 Purchase Number of Units 400 340 Unit Cost $2.12 2.70 Dunbar sold 630 units of inventory during the month. Ending inventory assuming LIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice O O O O
During 2021, a company sells 20 units of inventory. The company has the following inventory purchase...
During 2021, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2021 Date Transaction Jan. 1 Beginning inventory Sep.8 Purchase Number of Units 15 10 25 Unit Cost Total Cost $50 $ 750 94 $1,690 940 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses the weighted average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Ending...
Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr....
Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr. 1 Beginning inventory 500 $ 2.35 Apr. 20 Purchase 350 2.62 Dunbar sold 560 units of inventory during the month. Ending inventory assuming weighted-average cost would be:
12. Inventory records for Dunbar Incorporated revealed the following Number of Unit 100 Date Transaction A...
12. Inventory records for Dunbar Incorporated revealed the following Number of Unit 100 Date Transaction A l leginning inventory Apr 20 Purchase Unit Coul SIR >0 Total Cou S7,200.00 51125000 D harsold 700 units of inventory during the month Cost of goods sold assuming FIFO would be ASSO B. 512.000 C.513.950 D. 515.750 13. Inventory records for Dunbar Incorporated revealed the following Date JA I Apr. 20 Transaction Beginning inventory Number of Units 100 Unit Cost $18.00 Total Cost 57,200.00...
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During 2021, a company sells 25 units of inventory. The company has the following inventory purchase transactions for 2021 Date Transaction Jan.1 Beginning inventory Sep.8 Purchase Number Unit of Units Cost 20 $50 Total Cost $1,000 700 $1,700 70 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses the weighted average cost method. (Round weighted average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Ending inventory Cost of...
Number Unit Transaction of Units Date Cost Mar. 1 Beginning inventory 1,030 $7.17 Mar.10 Purchase 520 7.67 Mar. 16 Purchase 388 8.27 Mar.23 Purchase 500 8.97 Marvin sold 1,810 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $1,319 $9,275 $5,544 $7,385
Number of Units Unit Cost Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Total Cost $ 2,484 6,432 10,404 5,928 $25,248 SOG For the entire year, the company sells 440 units of inventory for $64 each. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit Cost of Goods Available for Sale LIFO Ending Inventory Cost of Goods Sold Cost per Cost per unit # of units Cost of...
Inventory records for Marvin Company revealed the following: Date Transaction Mar. 1 Beginning inventory Mar.10 Purchase Mar.16 Purchase Mar.23 Purchase Number of Units 1,080 570 900 550 Unit Cost $7.14 7.31 7.48 17.66 Marvin sold 2,000 units of inventory during the month. Cost of goods sold assuming weighted-average cost would be: (Do not round your intermediate calculations and round your final answer to nearest dollar amount. Round weighted-average unit cost to 4 decimals if necessary.)
Date Transaction Apr. 1 Beginning inventory Apr.20 Purchase Number of Units 400 410 Unit Cost $2.47 2.68 Dunbar sold 590 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) 1 0 0 0 0
Date Transaction Apr. 1 Beginning inventory Apr.20 Purchase Number of Units 400 340 Unit Cost $2.12 2.70 Dunbar sold 630 units of inventory during the month. Ending inventory assuming LIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice O O O O
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During 2021, a company sells 25 units of inventory. The company has the following inventory purchase transactions for 2021 Date Transaction Jan.1 Beginning inventory Sep.8 Purchase Number Unit of Units Cost 20 $50 Total Cost $1,000 700 $1,700 70 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses the weighted average cost method. (Round weighted average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Ending inventory Cost of...
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