Homework Answers
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Value of ending inventory = (190*6.80) + (300-190)*6.60 = 1292 + 726 = 2018 Option B is the answer |
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Pharoah Company uses a periodic inventory system. Details for the inventory account for the month of...
12. Effie Company uses a periodic inventory system. Details for the inventory account for the month...
12. Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Units Per unit price Total Balance, 1/1/18 200 $5.00 $1,000 Purchase, 1/15/18 100 5 .30 530 Purchase, 1/28/18 100 5.50 550 An end of the month (1/31/18) inventory showed that 200 units were on hand. If the company uses FIFO, what is the value of the ending inventory? a. $1000 b. $1040 c. $1060 d. $1080
6. Elly Company uses a periodic inventory system. Details for the inventory account for the month...
6. Elly Company uses a periodic inventory system. Details for the inventory account for the month of January, 2016 are as follows: Units Per unit price Total Balance, 1/1/16 200 $5.00 $1,000 Purchase, 1/15/16 100 5.30 530 Purchase, 1/28/16 100 5.50 550 An end of the month (1/31/16) inventory showed that 150 units were on hand. If the company uses FIFO and sells the units for $9 each, what is the gross profit for the month? a. $1,000 b. $985...
20. Effe Company uses a periodic inventory system. Details for the inventory account for the month...
20. Effe Company uses a periodic inventory system. Details for the inventory account for the month of January, 2014 are as follows: (SHOW CALCULATIONS for full credit Units Per unit price Tota! Balance, 1/1/14 200 $5.00 $1,000 Purchase, 1/15/14 100 5.30 530 Purchase, 1/28/14 100 5.50 550 An end of the month (1/31/14) inventory showed that 160 units were on hand. If the company uses FIFO, what is the value of the ending inventory? a $800 b. 5832 C. $848...
Dobler Company uses a periodic inventory system. Details for the inventory account for the month of...
Dobler Company uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows: Units Per Unit Price Total 300 $5.00 Balance, 1/1/2017 $1,500 150 5.30 Purchase, 1/15/2017 795 150 5.50 Purchase, 1/28.2017 825 At the end of the month (1.21.2017) inventory showed that 240 units were on hand. If the company uses LIFO,what is the value of the ending inventory? $1,264 $1,200 $1,302 $1,920
ompany uses a periodic inventory system. Details for the inventory account for the month of January,...
ompany uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Units Per unit price Total Balance, 1/1/18 200 $5.00 $1,000 Purchase, 1/15/18 100 5.30 530 Purchase, 1/28/18 100 5.50 550 An end of the month (1/31/18) inventory showed that 200 units were on hand. If the company uses LIFO, what is the value of the ending inventory? a $1000 b. $1040 c. S1060 d. S1080 14. Effie Company uses a...
Oriole Company uses a periodic inventory system. Details for the inventory account for the month of...
Oriole Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Balance, 1/1/18 Purchase, 1/15/18 Purchase, 1/28/18 Units Per unit price 220 $4 130 5.1 130 5.7 Total $880 663 741 An end of the month (1/31/18) inventory showed that 190 units were on hand. If the company uses FIFO and sells the units for $8 each, what is the gross profit for the month? $1427 $1083 $1520 $1145 Delmar...
Can someone help me answer these? 1) 2) Novak Corp. uses a periodic inventory system. Details...
Can someone help me answer these?
1)
2)
Novak Corp. uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows: Balance, 1/1/2017 Purchase, 1/15/2017 Purchase, 1/28/2017 Units 370 180 180 Per unit price $6.0 7 Total $2220 1170 1206 An end of the month (1/31/2017) inventory showed that 290 units were on hand. If the company uses LIFO, what is the value of the ending inventory? The accountant at Metlock, Inc....
Pharoah Company uses a periodic inventory system and reports the following for the month of June.
Pharoah Company uses a periodic inventory system and reports the following for the month of June.DateExplanationUnitsUnit CostTotal CostJune 1Inventory120$5$ 60012Purchase33061,98023Purchase20071,40030Inventory204
Elly Company uses a periodic inventory system.Details for the inventory account for the month of January 2016 are as fol...
Elly Company uses a periodic inventory system.Details for the inventory account for the month of January 2016 are as follows: Units Per unit price Total Balance 1/1/16 200 $500 $1000 Purchase 1/15/16 100 5.30 530 Purchase 1/28/16 100 5,50 550 An end of the month inventory showed that 150 units were on hand. If the company uses FIFO,what is the value of the ending inventory?
PLease show work and explain how to do these Tier Il Company uses a periodic inventory...
PLease show work and explain how to do these
Tier Il Company uses a periodic inventory system. Details for the inventory account for the month of January 2007 are as follows: Per unit price Units Total Balance, 1/1/2007 Purchase, 1/15/2007 Purchase, 1/28/2007 200 $5.00 5.30 $1,000 530 100 100 5.50 550 An end of the month (1/31/2007) inventory showed that 120 units were on hand. 11 How many units did the company sell during January 2007? a. 80 b. 120...
12. Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Units Per unit price Total Balance, 1/1/18 200 $5.00 $1,000 Purchase, 1/15/18 100 5 .30 530 Purchase, 1/28/18 100 5.50 550 An end of the month (1/31/18) inventory showed that 200 units were on hand. If the company uses FIFO, what is the value of the ending inventory? a. $1000 b. $1040 c. $1060 d. $1080
6. Elly Company uses a periodic inventory system. Details for the inventory account for the month of January, 2016 are as follows: Units Per unit price Total Balance, 1/1/16 200 $5.00 $1,000 Purchase, 1/15/16 100 5.30 530 Purchase, 1/28/16 100 5.50 550 An end of the month (1/31/16) inventory showed that 150 units were on hand. If the company uses FIFO and sells the units for $9 each, what is the gross profit for the month? a. $1,000 b. $985...
20. Effe Company uses a periodic inventory system. Details for the inventory account for the month of January, 2014 are as follows: (SHOW CALCULATIONS for full credit Units Per unit price Tota! Balance, 1/1/14 200 $5.00 $1,000 Purchase, 1/15/14 100 5.30 530 Purchase, 1/28/14 100 5.50 550 An end of the month (1/31/14) inventory showed that 160 units were on hand. If the company uses FIFO, what is the value of the ending inventory? a $800 b. 5832 C. $848...
Dobler Company uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows: Units Per Unit Price Total 300 $5.00 Balance, 1/1/2017 $1,500 150 5.30 Purchase, 1/15/2017 795 150 5.50 Purchase, 1/28.2017 825 At the end of the month (1.21.2017) inventory showed that 240 units were on hand. If the company uses LIFO,what is the value of the ending inventory? $1,264 $1,200 $1,302 $1,920
ompany uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Units Per unit price Total Balance, 1/1/18 200 $5.00 $1,000 Purchase, 1/15/18 100 5.30 530 Purchase, 1/28/18 100 5.50 550 An end of the month (1/31/18) inventory showed that 200 units were on hand. If the company uses LIFO, what is the value of the ending inventory? a $1000 b. $1040 c. S1060 d. S1080 14. Effie Company uses a...
Oriole Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Balance, 1/1/18 Purchase, 1/15/18 Purchase, 1/28/18 Units Per unit price 220 $4 130 5.1 130 5.7 Total $880 663 741 An end of the month (1/31/18) inventory showed that 190 units were on hand. If the company uses FIFO and sells the units for $8 each, what is the gross profit for the month? $1427 $1083 $1520 $1145 Delmar...
Can someone help me answer these?
1)
2)
Novak Corp. uses a periodic inventory system. Details for the inventory account for the month of January 2017 are as follows: Balance, 1/1/2017 Purchase, 1/15/2017 Purchase, 1/28/2017 Units 370 180 180 Per unit price $6.0 7 Total $2220 1170 1206 An end of the month (1/31/2017) inventory showed that 290 units were on hand. If the company uses LIFO, what is the value of the ending inventory? The accountant at Metlock, Inc....
PLease show work and explain how to do these
Tier Il Company uses a periodic inventory system. Details for the inventory account for the month of January 2007 are as follows: Per unit price Units Total Balance, 1/1/2007 Purchase, 1/15/2007 Purchase, 1/28/2007 200 $5.00 5.30 $1,000 530 100 100 5.50 550 An end of the month (1/31/2007) inventory showed that 120 units were on hand. 11 How many units did the company sell during January 2007? a. 80 b. 120...
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