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Answer: $105
Explanation:
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Beginning inventory Purchase on September 12 Purchased on September 23 16 units @ $3.00 28 units...
Consider the following Inventory transactions for September: Beginning inventory Purchase on September 12 Purchased on September...
Consider the following Inventory transactions for September: Beginning inventory Purchase on September 12 Purchased on September 23 15 units @ $3.80 26 units @ $3.40 units @ $4.20 7 For the month of September, the company sold 34 units. What is cost of goods sold under the welghted average cost method? (D necessary. Round your answer to the nearest dollar amount.) Multiple Choice O $143. O O $115. о O $102.
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.)
Jun. 1 Beginning merchandise inventory 12 Purchase 20 Sale 24 Purchase 29 Sale 17 units @...
Jun. 1 Beginning merchandise inventory 12 Purchase 20 Sale 24 Purchase 29 Sale 17 units @ 5 units @ 14 units @ 11 units @ 13 units @ $ $ $ $ $ 15 each 19 each 37 each 23 each 37 each 1. Compute ending merchandise inventory, cost of goods sold, and gross profit using the FIFO inventory costing method. 2. Compute ending merchandise inventory, cost of goods sold, and gross profit using the LIFO inventory costing method. 3....
Number Unit Transaction of Units Date Cost Mar. 1 Beginning inventory 1,030 $7.17 Mar.10 Purchase 520...
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
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During...
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Purchase No. of Itens Cost 1 390 $2.50 2 105 $2.60 3 55 $3.00 Glasgow sold 300 units after purchase 3 for $8.10 each What is Glasgow's ending inventory under weighted average rounded)? Multiple Choice $778 o $785 $753 O $686 < Prev 26 of 28 !!! Next > G Q Search or enter website...
Dec. 1 Beginning merchandise inventory 20 tires @ $66 each 11 Purchase 8 tires @ $73...
Dec. 1 Beginning merchandise inventory 20 tires @ $66 each 11 Purchase 8 tires @ $73 each 23 Sale 15 tires @ $87 each 26 Purchase 13 tires @ $84 each 29 Sale 15 tires @ $87 each Requirement 3. Compute cost of goods sold and gross profit using the weighted-average inventory costing method. (Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Begin by computing the cost of goods sold...
Activities Date Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar....
Activities Date Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Units Acquired at Cost 22e units $53.40 per unit 285 units $58.40 per unift Units Sold at Retail 38e units $88.40 per unit 145 units $63.40 per unit 270 units $65.40 per unit 25e units $98.4e per unit Totals 92e units 630 units . Compute the cost assigned to ending Inventory using (a) FIFO, (b) LIFO, (c) welghted average,...
Consider the following information for Maynor Company, which uses a periodic inventory system: Consider the following...
Consider the following information for Maynor Company, which
uses a periodic inventory system:
Consider the following information for Maynor Company, which uses a periodic inventory system Transaction Beginning Inventory Purchase Purchase Purchase Units Unit Cost Total Cost 12 January 1 March 28 August 22 October 14 Goods Available for Sale 24 29 87 $ 62 68 72 78 $744 1,496 1,728 2,262 $6,230 The company sold 29 units on May 1 and 24 units on October 28 Required: Calculate the...
March 1 Beginning inventory = 29 units $6.00 March 3 Purchased 22 units 4.20 Sold 22...
March 1 Beginning inventory = 29 units $6.00 March 3 Purchased 22 units 4.20 Sold 22 units 8.90 March 9 What is the ending inventory balance for Julia & Company assuming that it uses FIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $92 $177 $134. $174
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
Consider the following Inventory transactions for September: Beginning inventory Purchase on September 12 Purchased on September 23 15 units @ $3.80 26 units @ $3.40 units @ $4.20 7 For the month of September, the company sold 34 units. What is cost of goods sold under the welghted average cost method? (D necessary. Round your answer to the nearest dollar amount.) Multiple Choice O $143. O O $115. о O $102.
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.)
Jun. 1 Beginning merchandise inventory 12 Purchase 20 Sale 24 Purchase 29 Sale 17 units @ 5 units @ 14 units @ 11 units @ 13 units @ $ $ $ $ $ 15 each 19 each 37 each 23 each 37 each 1. Compute ending merchandise inventory, cost of goods sold, and gross profit using the FIFO inventory costing method. 2. Compute ending merchandise inventory, cost of goods sold, and gross profit using the LIFO inventory costing method. 3....
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
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Purchase No. of Itens Cost 1 390 $2.50 2 105 $2.60 3 55 $3.00 Glasgow sold 300 units after purchase 3 for $8.10 each What is Glasgow's ending inventory under weighted average rounded)? Multiple Choice $778 o $785 $753 O $686 < Prev 26 of 28 !!! Next > G Q Search or enter website...
Activities Date Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Units Acquired at Cost 22e units $53.40 per unit 285 units $58.40 per unift Units Sold at Retail 38e units $88.40 per unit 145 units $63.40 per unit 270 units $65.40 per unit 25e units $98.4e per unit Totals 92e units 630 units . Compute the cost assigned to ending Inventory using (a) FIFO, (b) LIFO, (c) welghted average,...
Consider the following information for Maynor Company, which
uses a periodic inventory system:
Consider the following information for Maynor Company, which uses a periodic inventory system Transaction Beginning Inventory Purchase Purchase Purchase Units Unit Cost Total Cost 12 January 1 March 28 August 22 October 14 Goods Available for Sale 24 29 87 $ 62 68 72 78 $744 1,496 1,728 2,262 $6,230 The company sold 29 units on May 1 and 24 units on October 28 Required: Calculate the...
March 1 Beginning inventory = 29 units $6.00 March 3 Purchased 22 units 4.20 Sold 22 units 8.90 March 9 What is the ending inventory balance for Julia & Company assuming that it uses FIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $92 $177 $134. $174
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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