Homework Answers
| Answer | |||||
| The correct option is B: $668 | |||||
| Explanation | |||||
| FIFO | |||||
| Date | Particulars | Units | Cost | Amount | Comments |
| 01-Mar | Opening Inventory | $ 12 | $ 18 | $ 216 | |
| 02-Mar | Purchase | $ 12 | $ 30 | $ 360 | |
| 06-Mar | Purchase | $ 7 | $ 23 | $ 161 | |
| Total | $ 31 | $ 737 | |||
| Sales | $ 28 | $ 668 | 12*18+ 12*30 + 4*23 | ||
| Closing Stock | $ 3 | $ 23 | $ 69 | ||
| COGS | $ 668 | ||||
| Closing Stock | $ 69 | ||||
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Help Save & Exit Submit A company had beginning inventory of 12 units at a cost...
Saved Help Save & Exit Submit A company has beginning inventory of 12 units at a...
Saved Help Save & Exit Submit A company has beginning inventory of 12 units at a cost of $28 each on February 1. On February 3, it purchases 38 units at $30 each. 17 units are sold on February 5. Using the periodic FIFO inventory method, what is the cost of the 17 units that are sold? Multiple Choice Ο Ο $490 Ο $486 Ο Ο $504 Ο () $514 Ο 4476 31 of 47 Next >
A company had beginning inventory of 12 units at a cost of $24 each on March...
A company had beginning inventory of 12 units at a cost of $24 each on March 1. On March 2, it purchased 12 units at $42 each. On March 6 it purchased 7 units at $29 each. On March 8, it sold 28 units for $72 each. Using the FIFO perpetual inventory method, what was the cost of the 28 units sold? $995 $744 $908 $792 $812
A company had beginning inventory of 11 units at a cost of $17 each on March...
A company had beginning inventory of 11 units at a cost of $17 each on March 1. On March 2, it purchased 11 units at $28 each. On March 6 it purchased 5 units at $22 each. On March 8, it sold 26 units for $65 each. Using the FIFO perpetual inventory method, what was the cost of the 26 units sold?
I need a more detailed answer Inventory Project i Saved Help Save & Exit Submit Check...
I need a more detailed answer
Inventory Project i Saved Help Save & Exit Submit Check my work Required information [The following information applies to the questions displayed below.) Part 3 of 4 Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. points Date Activities Units Sold at Retail Mar. Beginning inventory Mar. 5 Purchase Units Acquired at Cost 100 units@ $50.00 per unit 400 units@ $55.00 per eBook 400 units...
Help Save & Exit Submit Given the following information, determine the cost of the inventory at...
Help Save & Exit Submit Given the following information, determine the cost of the inventory at June 30 using the perpetual LIFO inventory method June 1 Beginning inventory 20 units at $20 Bach Sale of 12 units for $50 each 12 units at $25 June 29 Purchase each June 15 The cost of the ending inventory is Multiple Choice $240 $500 ooooo $300 $400 O $460 Prey 34 of 47 Next >
A company had inventory on November 1 of 5 units at a cost of $21 each....
A company had inventory on November 1 of 5 units at a cost of $21 each. On November 2, they purchased 11 units at $23 each. On November 6 they purchased 7 units at $26 each. On November 8, 10 units were sold for $56 each. Using the perpetual LIFO inventory method, what was the value of the inventory on November 8 after the sale? Ο Ο Ο Ο Ο < Prev 12 of 47 !!! Next >
5 Problems Help Save & Exit Submit Check my work Warnerwoods Company uses a perpetual inventory...
5 Problems Help Save & Exit Submit Check my work Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 160 units @ $52.20 per unit 255 units@ $57.20 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 320 units@ $87.20 per unit 115 units @ $62.20 per unit...
Homework i Saved Help Save & Exit Check m The inventory records of Kuffel Co. reflected...
Homework i Saved Help Save & Exit Check m The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number Unit Total of Units Cost Cost 159 $32 $4,880 70 32 2,240 (100) 90 353,150 140 375, 180 (109) 36 1,800 (180) 50 Required: a. Assume that Kuffel Co. uses a periodic inventory system....
-Final Quiz 2 0 Help Save & Exit Submit Mitchell Company was authorized to issue 58.000...
-Final Quiz 2 0 Help Save & Exit Submit Mitchell Company was authorized to issue 58.000 shares of common stock. The company issued 31,000 shares of stock and later purchased 5,800 shares of treasury stock. The number of outstanding shares of common stock is: Multiple Choice O 32,800 o 21,200 25,200. 52,200 < Prev 9 of 10 Next > Rosierre Company purchased two identical inventory items. One of the items cost $6.00 and was purchased in January. The other was...
1. purchase 100 units $50 each 2. no activity 3.no activity 4. no activity 5. ourchase...
1.
purchase 100 units $50 each
2. no activity
3.no activity
4. no activity
5. ourchase 400 units $55 each
6.no activity
7. no activity
8 nothing
9 sales 420 units $85 each
10-17. nothing
18. purchase 120 units $60 each
19-24 nothing
25 purchase 200 $62 each
26-28 nothing
29 sales 160 $95 each
30-31 nothing
Help Save & Exit Submit Check my work Tableau DA 5-2: Exercise, Perpetual: Inventory costing methods LO P1 ATV Co. began operations on...
Saved Help Save & Exit Submit A company has beginning inventory of 12 units at a cost of $28 each on February 1. On February 3, it purchases 38 units at $30 each. 17 units are sold on February 5. Using the periodic FIFO inventory method, what is the cost of the 17 units that are sold? Multiple Choice Ο Ο $490 Ο $486 Ο Ο $504 Ο () $514 Ο 4476 31 of 47 Next >
A company had beginning inventory of 12 units at a cost of $24 each on March 1. On March 2, it purchased 12 units at $42 each. On March 6 it purchased 7 units at $29 each. On March 8, it sold 28 units for $72 each. Using the FIFO perpetual inventory method, what was the cost of the 28 units sold? $995 $744 $908 $792 $812
I need a more detailed answer
Inventory Project i Saved Help Save & Exit Submit Check my work Required information [The following information applies to the questions displayed below.) Part 3 of 4 Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. points Date Activities Units Sold at Retail Mar. Beginning inventory Mar. 5 Purchase Units Acquired at Cost 100 units@ $50.00 per unit 400 units@ $55.00 per eBook 400 units...
Help Save & Exit Submit Given the following information, determine the cost of the inventory at June 30 using the perpetual LIFO inventory method June 1 Beginning inventory 20 units at $20 Bach Sale of 12 units for $50 each 12 units at $25 June 29 Purchase each June 15 The cost of the ending inventory is Multiple Choice $240 $500 ooooo $300 $400 O $460 Prey 34 of 47 Next >
A company had inventory on November 1 of 5 units at a cost of $21 each. On November 2, they purchased 11 units at $23 each. On November 6 they purchased 7 units at $26 each. On November 8, 10 units were sold for $56 each. Using the perpetual LIFO inventory method, what was the value of the inventory on November 8 after the sale? Ο Ο Ο Ο Ο < Prev 12 of 47 !!! Next >
5 Problems Help Save & Exit Submit Check my work Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 160 units @ $52.20 per unit 255 units@ $57.20 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 320 units@ $87.20 per unit 115 units @ $62.20 per unit...
Homework i Saved Help Save & Exit Check m The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number Unit Total of Units Cost Cost 159 $32 $4,880 70 32 2,240 (100) 90 353,150 140 375, 180 (109) 36 1,800 (180) 50 Required: a. Assume that Kuffel Co. uses a periodic inventory system....
-Final Quiz 2 0 Help Save & Exit Submit Mitchell Company was authorized to issue 58.000 shares of common stock. The company issued 31,000 shares of stock and later purchased 5,800 shares of treasury stock. The number of outstanding shares of common stock is: Multiple Choice O 32,800 o 21,200 25,200. 52,200 < Prev 9 of 10 Next > Rosierre Company purchased two identical inventory items. One of the items cost $6.00 and was purchased in January. The other was...
1.
purchase 100 units $50 each
2. no activity
3.no activity
4. no activity
5. ourchase 400 units $55 each
6.no activity
7. no activity
8 nothing
9 sales 420 units $85 each
10-17. nothing
18. purchase 120 units $60 each
19-24 nothing
25 purchase 200 $62 each
26-28 nothing
29 sales 160 $95 each
30-31 nothing
Help Save & Exit Submit Check my work Tableau DA 5-2: Exercise, Perpetual: Inventory costing methods LO P1 ATV Co. began operations on...
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