Use the following data of Manatee Sales, Inc.: Unit Total Units Units Cost Cost Sold Beginning...
Use the following data of Manatee Sales, Inc.: Unit Total Units Units Cost Cost Sold Beginning inventory 14 $3 $42 Purchase on Apr 25 33 7 231 Purchase on Nov 16 16 8 128 Sales 40 ? ? Manatee Sales LIFO cost of ending inventory would be A. $320. B. $147. C. $105. D. $177.
Homework Answers
Add Answer to:
Use the following data of Manatee Sales, Inc.: Unit Total Units
Units Cost Cost Sold Beginning...
Use the following data of Dolphin Sales, Inc.: Unit Total Units Units Cost Cost Sold Beginning...
Use the following data of Dolphin Sales, Inc.: Unit Total Units Units Cost Cost Sold Beginning inventory 14 $6 $84 Purchase on Apr 25 33 8 264 Purchase on Nov 16 14 10 140 Sales 45 ? ? Dolphin Sales cost of ending inventory using the average cost method is A. $156. B. $100. C. $128. D. $450.
Use the following data of Bluefish Sales, Inc.: Unit Total Units Units Cost Cost Sold Beginning...
Use the following data of Bluefish Sales, Inc.: Unit Total Units Units Cost Cost Sold Beginning inventory 25 $3 $75 Purchase on Apr 25 30 6 180 Purchase on Nov 16 19 7 133 Sales 40 ? ? Bluefish Sales uses a FIFO inventory system. Cost of goods sold for the period is A. $259. B. $165. C. $210. D. $280.
Use the following data of Stingray Sales, Inc: Unit Cost 4 Total Cost 60 200 72...
Use the following data of Stingray Sales, Inc: Unit Cost 4 Total Cost 60 200 72 Units Units 15 40 12 50 Sold Beginning inventory Purchase on Apr 25 Purchase on Nov 16 Sales Stingray Sales' LIFO cost of ending inventory would be 2 OA. $97 O B. $84. O C. $70. O D. $300.
QC6-6 (similar to) Use the following data of Starfish Sales, Inc.: Units Sold $ Unit Units...
QC6-6 (similar to) Use the following data of Starfish Sales, Inc.: Units Sold $ Unit Units Cost Beginning inventory 24 $ 7 Purchase on Apr 25 308 Purchase on Nov 16 16 10 Sales Starfish Sales' average cost of ending inventory is Total Cost 168 240 160 O A. $176. O B. $232 O C. $450. OD. $203.
The following is the inventory record of widgets for the ABC Company Units Cost/Unit 1-Jan Beginning...
The following is the inventory record of widgets for the ABC Company Units Cost/Unit 1-Jan Beginning Inventory 1001 $10.00 15-Apr Purchase 2001 $11.00 24-Aug Purchase 300 $12.00 27-Nov Purchase 400 $13.00 At the end of the fiscal year, the physical inventory found 450 widgets on hand at 12/31. Total sales for the year were 500 widgets sold at a retail price of $20.00 per widget Required: (a) Calculate the endign inventory value under FIFO, LIFO and Weighted Average (b) Calculate...
Number of Units Unit Cost Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase...
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...
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Blumen, Inc...
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Blumen, Inc., for an operating period. Units Unit Cost Total Cost Units Sold Beginning Inventory 30 $14 $ 420 Sale No. 1 20 Purchase No. 1 50 20 1,000 Sale No. 2 40 Purchase No. 2 20 22 440 Totals 100 $1,860 72 Assuming Blumen, Inc. uses LIFO periodic inventory procedures, the ending inventory cost is: A. $620 B. $560 C. $880 D....
Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 60 $ 52...
Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 60 $ 52 $ 3,120 Apr. 7 Purchase 140 54 7,560 Jul. 16 Purchase 210 57 11,970 Oct. 6 Purchase 120 58 6,960 530 $ 29,610 For the entire year, the company sells 450 units of inventory for $70 each. Exercise 6-4A Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
(Please show work) Use the following data of Draker Company: Unit Total Units Cost Cost Beginning...
(Please show work) Use the following data of Draker Company: Unit Total Units Cost Cost Beginning inventory 14 $120 $1,680 Purchase on July 3 41 130 5,330 Sales 50 ? ? Draker​'s cost of goods sold using the LIFO method would​ be: $6,410
Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 220 units...
Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 220 units @ $53.40 per unit Mar. 5 Purchase 285 units @ $58.40 per unit Mar. 9 Sales 380 units @ $88.40 per unit Mar. 18 Purchase 145 units @ $63.40 per unit Mar. 25 Purchase 270 units @ $65.40 per unit Mar. 29 Sales 250 units @ $98.40 per unit Totals 920 units 630 units 3. Compute the cost assigned to ending inventory using (a)...
Use the following data of Stingray Sales, Inc: Unit Cost 4 Total Cost 60 200 72 Units Units 15 40 12 50 Sold Beginning inventory Purchase on Apr 25 Purchase on Nov 16 Sales Stingray Sales' LIFO cost of ending inventory would be 2 OA. $97 O B. $84. O C. $70. O D. $300.
QC6-6 (similar to) Use the following data of Starfish Sales, Inc.: Units Sold $ Unit Units Cost Beginning inventory 24 $ 7 Purchase on Apr 25 308 Purchase on Nov 16 16 10 Sales Starfish Sales' average cost of ending inventory is Total Cost 168 240 160 O A. $176. O B. $232 O C. $450. OD. $203.
The following is the inventory record of widgets for the ABC Company Units Cost/Unit 1-Jan Beginning Inventory 1001 $10.00 15-Apr Purchase 2001 $11.00 24-Aug Purchase 300 $12.00 27-Nov Purchase 400 $13.00 At the end of the fiscal year, the physical inventory found 450 widgets on hand at 12/31. Total sales for the year were 500 widgets sold at a retail price of $20.00 per widget Required: (a) Calculate the endign inventory value under FIFO, LIFO and Weighted Average (b) Calculate...
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...
Most questions answered within 3 hours.
-
Assume that capital markets are competitive and that the
international Fisher hypothesis holds. The one-year interest...
asked 19 minutes ago -
Solid potassium phosphate is slowly added to 150 mL of a 0.0518
M calcium nitrate solution....
asked 34 minutes ago -
(CO 2) A field can be added to a report to
values for two or more...
asked 2 hours ago -
Identify 3 research scenarios that might provide a low,
medium, and high degree of variability in...
asked 2 hours ago -
how
does gravity affect the trajectory of projectile? what would be the
shape of the trajactory...
asked 3 hours ago -
Two small plastic spheres are given positive electrical charges.
When they are a distance of 15.4...
asked 3 hours ago -
An acidic solution containing gold ions is
electrolyzed, producing gaseous oxygen (from water) at the anode...
asked 4 hours ago -
Assume that the population of Mexico is 128
million and that the population increases 1.01
percentannually....
asked 4 hours ago -
Can someone please help me add appropriate descriptive
comments to each line of code in the...
asked 5 hours ago -
Romeo wishes to throw a bouquet of flowers to Juliet, who is on
a second-story balcony,...
asked 6 hours ago -
Why is QE a controversial monetary policy tool.
A. It may lead to excessive inflation.B. By...
asked 6 hours ago -
Principles of Programming midterm study guide help!
1.)
______ Which of the following would reference the...
asked 5 hours ago