Journal entry:
Account | Debit | Credit |
---|---|---|
Inventory (10 x $15) Accounts payable |
$150 . |
. $150 |
2 points Save FILLO, Inc.'s inventory activity in May was as follows: Inventory, May 1 20...
FILLO, Inc.'s inventory activity in May was as follows: Inventory, May 1 Purchase, May 7 20 units @$12 each 10 units $15 each Sale, May 18 Record the journal entry for the May 7th purchase assuming the first-in, first-out method is used and all purchases are on account. DO NOT INCLUDE $ IN YOUR ANSWER 24 units$18 each Account Debit Credit
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 46 units @ $17 Oct 7th 7 Sale 39 units Oct 15th Purchase 36 units @ $20 Oct 24th Sale 16 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a)the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods sold on October 24 b. Inventory on October...
Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 24 units @ $15 5 Sale 14 units 17 Purchase 26 units @ $17 30 Sale 27 units Assuming a perpetual inventory system and the first-in, first-out method: a. Determine the cost of the goods sold for the September 30 sale. b. Determine the inventory on September 30.
Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 24 units $17 5 Sale 14 units 17 Purchase 25 units $18 30 Sale 27 units Assuming a perpetual Inventory system and the first-in, first-out method, determine (a) the cost of the goods sold for the September 30 sale and (b) the inventory on September 30. a. Cost of goods sold $ 170 b. Inventory, September 30
Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 53 units @ $23 7 Sale 43 units 15 Purchase 36 units @ $27 24 Sale 15 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods sold on October 24 b. Inventory on October 31
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item HM46 are as follows May 1 Inventory 66 units $25 9 Sale 47 units 13 Purchase 48 units $30 28 Sale 27 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on May 28 and (b) the Inventory on May 31. a. Cost of merchandise sold on May 28 b. Inventory on May 31
opero nome Help 1 Smalley, Inc., purchased items of inventory as follows. Jan. 4 Jan. 23 100 units @ $2.10 120 units @ $2.25 eBook References Smalley sold 50 units on January 28. Compute the cost of goods sold for the month under the FIFO inventory method. Cost of goods sold newconnect.mheducation.com Saved Help Save & Exi apter 8 Homework Chec Mason Company purchased items of inventory as follows. Dec. 2 Dec. 12 50 units @ $20 12 units $21...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item B901 are as follows: May 1 Inventory 39 units @ $19 9 Sale 30 units 13 Purchase 35 units @ $20 28 Sale 17 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on May 28 and (b) the inventory on May 31. a. Cost of merchandise sold on May 28 $ b. Inventory on May 31
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: May 1 Inventory 58 units @ $16 9 Sale 40 units 13 Purchase 60 units @ $17 28 Sale 22 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on May 28 and (b) the inventory on May 31. a. Cost of merchandise sold on May 28 $ b. Inventory on May 31 $
Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 41 units @ $77 10 Sale 28 units 15 Purchase 17 units @ $80 20 Sale 18 units 24 Sale 8 units 30 Purchase 27 units @ $84 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form...