which of the following inventory costing methods will always result in the same values for ending...
Homework Answers
Answer--------------FIFO.
.
FIFO Inventory system provides the same amount of Cost of goods sold and ending inventory no matter which inventory system is used. Under both Perpetual and periodic answer will be the same.
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which of the following inventory costing methods will always result
in the same values for ending...
Which of the following inventory costing methods will always result in the same values for ending...
Which of the following inventory costing methods will always result in the same values for ending inventory and cost of goods sold regardless of whether a perpetual or periodic inventory system is used? Multiple Choice FIFO and LIFO LIFO and weighted-average cost Specific identification and FIFO FIFO and weighted-average cost LIFO and specific identification Next Visit question map Question 12 of 25 Total12
Which of the following inventory cost flow assumptions produces the same ending inventory values under both...
Which of the following inventory cost flow assumptions produces the same ending inventory values under both the periodic and perpetual systems? FIFO OLIFO weighted average dollar-value LIFO
Problem 6-68BInventory Costing Methods Objective 3Apply the four inventory costing methods to compute ending inventory and...
Problem 6-68BInventory Costing Methods Objective 3Apply the four inventory costing methods to compute ending inventory and cost of goods sold under a perpetual inventory system. 4Analyze the financial reporting and tax effects of the various inventory costing methods. 6Evaluate inventory management using the gross profit and inventory turnover ratios. Terpsichore Company uses a perpetual inventory system. For 2018 and 2019, Terpsichore has the following data: Activity Units Purchase Price (per unit) Sale Price (per unit) 2018 Beginning inventory 100 $45...
True or False Unsold consigned merchandise should be included in the consignee’s inventory. If ending inventory...
True or False Unsold consigned merchandise should be included in the consignee’s inventory. If ending inventory for the year is understated, net income for the year is overstated. In the inventory for the year is overstated, owner’s equity reported on the balance sheet at the end of the year is understated. The specific identification inventory method should be used when the inventory consists of identical. Low cost units that are purchased and sold frequently. Of the three widely used inventory...
Taking exam, please help! calculate ending inventory and cogs using the following inventory costing methods. THANKYOU...
Taking exam, please help! calculate ending inventory
and cogs using the following inventory costing methods.
THANKYOU
10.00 points Consider the following information for Maynor Company, which uses a periodic inventory system Transaction Units Unit Cost Total Cost January 1 Beginning Inventory 31 March 28 Purchase August 22 Purchase October 14 Purchase 41 62 67 $81 87 91 97 2,511 3,567 5,642 6,499 Goods Available for Sale 201 $18,219 The company sold 67 units on May 1 and 62 units on...
When inventory costs are declining, which of the following inventory costing methods will result in the...
When inventory costs are declining, which of the following inventory costing methods will result in the highest cost of goods sold? O A. last - in, first-out OB. weighted average OC specific identification OD first-in, first-out
Which of the following inventory costing methods uses the costing methods uses the cost of the...
Which of the following inventory costing methods uses the costing methods uses the cost of the oldest purchases to calculate the value of ending inventory Specific identification Weighted average Last in first out First in last out
QUESTION 49 Which of the following amounts could differ if a company, using the LIFO inventory...
QUESTION 49 Which of the following amounts could differ if a company, using the LIFO inventory costing method, shifts from a periodic inventory system to a perpetual invent system? purchases sales revenue ending merchandise inventory purchase returns QUESTION 50 Which of the following inventory costing methods is based on the actual cost of each particular unit of inventory?! specific identification last-in, first-out weighted average first-in, first-out
Inventory Costing Methods and the Perpetual Method Mckay & Company experienced the following events in March:...
Inventory Costing Methods and the Perpetual Method Mckay & Company experienced the following events in March: Date Event Units Unit Cost Total Cost Mar.1 Purchased inventory 100 $35 $3,500 Mar. 3 Sold inventory entory 60 Mar. 15 Purchased inventory 100 $38 $3,800 Mar. 20 Sold inventory 40 Assume the perpetual inventory system is used. Use the weighted average inventory costing method to calculate the company's cost of goods sold and ending inventory as of March 31. Round weighted average cost...
Inventory Costing Methods and the Perpetual Method McKay & Company experienced the following events in March:...
Inventory Costing Methods and the Perpetual Method McKay & Company experienced the following events in March: Date Event Units Unit Cost Total Cost Mar. 1 Purchased inventory 100 @ $33 $3,300 Mar. 3 Sold inventory 60 Mar. 15 Purchased inventory 100 @ $36 $3,600 Mar. 20 Sold inventory 40 Assume the perpetual inventory system is used. Use the weighted-average inventory costing method to calculate the company’s cost of goods sold and ending inventory as of March 31. Round weighted-average cost...
Which of the following inventory cost flow assumptions produces the same ending inventory values under both the periodic and perpetual systems? FIFO OLIFO weighted average dollar-value LIFO
Taking exam, please help! calculate ending inventory
and cogs using the following inventory costing methods.
THANKYOU
10.00 points Consider the following information for Maynor Company, which uses a periodic inventory system Transaction Units Unit Cost Total Cost January 1 Beginning Inventory 31 March 28 Purchase August 22 Purchase October 14 Purchase 41 62 67 $81 87 91 97 2,511 3,567 5,642 6,499 Goods Available for Sale 201 $18,219 The company sold 67 units on May 1 and 62 units on...
When inventory costs are declining, which of the following inventory costing methods will result in the highest cost of goods sold? O A. last - in, first-out OB. weighted average OC specific identification OD first-in, first-out
QUESTION 49 Which of the following amounts could differ if a company, using the LIFO inventory costing method, shifts from a periodic inventory system to a perpetual invent system? purchases sales revenue ending merchandise inventory purchase returns QUESTION 50 Which of the following inventory costing methods is based on the actual cost of each particular unit of inventory?! specific identification last-in, first-out weighted average first-in, first-out
Inventory Costing Methods and the Perpetual Method Mckay & Company experienced the following events in March: Date Event Units Unit Cost Total Cost Mar.1 Purchased inventory 100 $35 $3,500 Mar. 3 Sold inventory entory 60 Mar. 15 Purchased inventory 100 $38 $3,800 Mar. 20 Sold inventory 40 Assume the perpetual inventory system is used. Use the weighted average inventory costing method to calculate the company's cost of goods sold and ending inventory as of March 31. Round weighted average cost...
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