Homework Answers
First 5000 units are used from beginning inventory, rest sale of 7200 units are from units purchased, so out of 12200, units left are 8800
Cost of ending inventory is:-
=8800*16
=140800
Add Answer to:
The Rama company began the accounting period' wl 5000 units in inventory at a cost of...
(3) Pale Ale lin began accounting period w/ 1000 bottles in Inventory at a cost of...
(3) Pale Ale lin began accounting period w/ 1000 bottles in Inventory at a cost of $1.70 each. During the period the company porshaved an add monar 600 bottles at $2.10 each & sold 1,380 bottles. They use the periodic inventory procedure. cost of goods sold using FIFO A - $445.40 B-182586 C. $2498 D. $374
Penn Company uses a periodic Inventory system. At the end of the annual accounting period, December...
Penn Company uses a periodic Inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information Units 3200 Unit Cost $ 11 00 Inventory December 31. prior year For the current year Purchase March 21 Purchase August 1 Inventory, December 31, current 5 200 4,200 7,600 12.00 4.00 Required: Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory...
Seminole Company began the year with 27,000 units of product in its January 1 inventory costing...
Seminole Company began the year with 27,000 units of product in its January 1 inventory costing $16.40 each. It made purchases of its product during the year as follows. The company uses a periodic inventory system. On December 31, a physical count reveals that 49,000 units of its product remain in inventory. Mar. May Aug. Nov. 7 42,000 units @ $19.40 each 25 44,000 units @ $23.40 each 1 34,000 units @ $25.40 each 10 40,000 units @ $28.40 each...
Seminole Company began the year with 22,500 units of product in its January 1 Inventory costing...
Seminole Company began the year with 22,500 units of product in its January 1 Inventory costing $15.50 each. It made purchases of its product during the year as follows. The company uses a periodic Inventory system. On December 31, a physical count reveals that 40,000 units of its product remain in inventory. Mar. May Aug. Nov. 733,000 units $18.50 each 25 35,000 units @ $22.50 each 125,000 units @ $24.50 each 10 35,500 units @ $27.50 each Required: 1. Compute...
Nittany Company uses a periodic Inventory system. At the end of the annual accounting period, December...
Nittany Company uses a periodic Inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following Information for product 1: Units Unit Cost 2, eee $5 Inventory, December 31, prior year For the current year: Purchase, March 21 Purchase, August 1 Inventory, December 31, current year 5,000 3. eee 4.999 Required: Compute ending Inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost...
Hamilton Company uses a periodic inventory system. At the end of the annual accounting period, December...
Hamilton Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 1: Units Unit Cost 2,000 $5 Inventory, December 31, prior year For the current year: Purchase, March 21 Purchase, August 1 Inventory, December 31, current year 6,000 4,000 3,000 Required: Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods. FIFO L IFO...
Ferris Company began January with 6,000 units of its principal product. The cost of each unit...
Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Required: Calculate January's ending inventory and cost of goods sold for the month using each of the following alternatives: 1. FIFO, periodic system 2. LIFO, periodic system 3. FIFO, perpetual system 4. Average cost, periodic system 5. Average cost, perpetual system
Synergy Company began 2020 with 19,500 units of Product X in its inventory that cost $7.60...
Synergy Company began 2020 with 19,500 units of Product X in its inventory that cost $7.60 per unit, and it made successive purchases of the product as follows: Mar. May Aug. Nov. 7 26,500 units @ $ 9.10 each 25 31,500 units @ $11.10 each 1 22,000 units @ $12.10 each 10 31,500 units @ $13.60 each The company uses a periodic inventory system. On December 31, 2020, a physical count disclosed that 15,500 units of Product X remained in...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory cos...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 240 units. Units Unit Cost 120 380 Total Cost 9,600 34,200 22,000 Date Beginning Inventory Purchase Purchase 80 90 January 1 January 15 January 24 200 110 Required: 1. Calculate the number...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method perpetually at the time of each sale, as if it uses perpetual inventory system. Assume Oahu Kiki's records show the following for the month of January. The company sold 250 units between January 16 and 23. Required: Calculate the cost of ending inventory and the cost of goods sold using the FIFO and LIFO methods
(3) Pale Ale lin began accounting period w/ 1000 bottles in Inventory at a cost of $1.70 each. During the period the company porshaved an add monar 600 bottles at $2.10 each & sold 1,380 bottles. They use the periodic inventory procedure. cost of goods sold using FIFO A - $445.40 B-182586 C. $2498 D. $374
Penn Company uses a periodic Inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information Units 3200 Unit Cost $ 11 00 Inventory December 31. prior year For the current year Purchase March 21 Purchase August 1 Inventory, December 31, current 5 200 4,200 7,600 12.00 4.00 Required: Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory...
Seminole Company began the year with 27,000 units of product in its January 1 inventory costing $16.40 each. It made purchases of its product during the year as follows. The company uses a periodic inventory system. On December 31, a physical count reveals that 49,000 units of its product remain in inventory. Mar. May Aug. Nov. 7 42,000 units @ $19.40 each 25 44,000 units @ $23.40 each 1 34,000 units @ $25.40 each 10 40,000 units @ $28.40 each...
Seminole Company began the year with 22,500 units of product in its January 1 Inventory costing $15.50 each. It made purchases of its product during the year as follows. The company uses a periodic Inventory system. On December 31, a physical count reveals that 40,000 units of its product remain in inventory. Mar. May Aug. Nov. 733,000 units $18.50 each 25 35,000 units @ $22.50 each 125,000 units @ $24.50 each 10 35,500 units @ $27.50 each Required: 1. Compute...
Nittany Company uses a periodic Inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following Information for product 1: Units Unit Cost 2, eee $5 Inventory, December 31, prior year For the current year: Purchase, March 21 Purchase, August 1 Inventory, December 31, current year 5,000 3. eee 4.999 Required: Compute ending Inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost...
Hamilton Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 1: Units Unit Cost 2,000 $5 Inventory, December 31, prior year For the current year: Purchase, March 21 Purchase, August 1 Inventory, December 31, current year 6,000 4,000 3,000 Required: Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods. FIFO L IFO...
Synergy Company began 2020 with 19,500 units of Product X in its inventory that cost $7.60 per unit, and it made successive purchases of the product as follows: Mar. May Aug. Nov. 7 26,500 units @ $ 9.10 each 25 31,500 units @ $11.10 each 1 22,000 units @ $12.10 each 10 31,500 units @ $13.60 each The company uses a periodic inventory system. On December 31, 2020, a physical count disclosed that 15,500 units of Product X remained in...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 240 units. Units Unit Cost 120 380 Total Cost 9,600 34,200 22,000 Date Beginning Inventory Purchase Purchase 80 90 January 1 January 15 January 24 200 110 Required: 1. Calculate the number...
Most questions answered within 3 hours.
-
4) A firm is hit by increases in its wage rate, w.
a) How does this...
asked 29 minutes ago -
You have just been hired by the EPA to help with the new gas
mileage standards...
asked 14 minutes ago -
A square current loop 5.4 cm on each side carries a 510 mA
current. The loop...
asked 2 hours ago -
What are five tips in conducting knowledge assessment/literature
review research? Each of these tips needs to...
asked 3 hours ago -
Antigen presenting cells link innate and adaptive immune
responses. In the theoretical scenario where phagosomes cannot...
asked 3 hours ago -
Dealing with conflict, in my opinion, is a skill and an art. I
believe that those...
asked 3 hours ago -
6. A long straight wire with circular cross section and radius
1.5 cm carries a 1.2...
asked 4 hours ago -
Deacon Corporation has provided the following financial data
from its balance sheet and income statement:
Year...
asked 4 hours ago -
List and discuss at least three variables from everyday life for
which you expect the variable ...
asked 4 hours ago -
A high-pass filter consists of a 1.60 μF capacitor in series
with a 125 Ω resistor....
asked 4 hours ago -
A newly developed artificial intelligence has trouble
distinguishing hand-written numbers from hand-written alphabets.
There are pictures...
asked 5 hours ago -
The carbonate ion CO3 2- has multiple resonance structures.
a. Draw them and assign the hybridization...
asked 5 hours ago