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LO2E6-2A. Inventory Costing Methods--Periodic Method The Lippert Company uses the periodic inven- tory system. The following...
periodic inventory system merchandise inven LO2 • P6-2A. Inventory Costing Methods-Periodic Method Tally Stores uses the...
periodic inventory system merchandise inven LO2 • P6-2A. Inventory Costing Methods-Periodic Method Tally Stores uses the periodic inventory for its merchandise inventory. The April 1 inventory for one of the items in the merchandise tory consisted of 120 units with a unit cost of $330. Transactions for this item during April follows: April 9 Purchased 40 units @ $345 per unit. 14 Sold 80 units @ $550 per unit. 23 Purchased 20 units @ $360 per unit. 29 Sold 40...
Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are...
Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory: May 1 Beginning inventory 450 units $34 per unit 12 Purchased 400 units 539 per unit 16 Sold 480 units 24 Purchased 460 units @ $40 per unit Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average cost methods. Do not...
Inventory Costing Methods . Periodic Method Fortune Stores uses the periodic inventory system for its merchandise...
Inventory Costing Methods . Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April 1 inventory for one of the items in the merchandise inventory consisted of 120 units with a unit cost of $335. Transactions for this item during April were as follows: April 9 Purchased 40 units $355 per unit 14 Sold 80 units @ $560 per unit 23 Purchased 20 units @ $360 per unit 29 Sold 40 units Required a. Calculate...
__________ ____________ __________ ______________ Inventory Costing Methods - Periodic Method The Kali Company uses...
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Inventory Costing Methods - Periodic Method The Kali Company uses the periodic inventory system for its merchandise inventory. The June 1 inventory for one of the items in the merchandise inventory consisted of 60 units with a unit cost of $45. Transactions for this item during June were as follows: June 5 Purchased 40 units @ $50 per unit 13 Sold 50 units @ $95 per unit 25 Purchased 40 units @ $53 per unit 29...
Inventory Costing Methods-Periodic Method Spangler Company is a retailer that uses the periodic inventory system. March...
Inventory Costing Methods-Periodic Method Spangler Company is a retailer that uses the periodic inventory system. March 1 Beginning inventory 100 units of Product Me $2.790 total cost 6 Purchased 200 units of Product Me $4,800 total cost 10 Purchased 150 units of Product M@ $4.200 total cost 15 Sold 180 units of Product M Calculate the March cost of goods sold and the ending inventory at March 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average...
Inventory Costing Methods—Perpetual Method The Luann Company uses the perpetual inventory system. The following July data...
Inventory Costing Methods—Perpetual Method The Luann Company uses the perpetual inventory system. The following July data are for an item in Luann’s inventory: July 1 Beginning inventory 30 Units@ $9 per unit 10 Purchased 50 Units@ $11 per unit 15 sold 60 Units 26 Purchased 25 Units@ $13 per unit Calculate the cost of goods sold for the July 15 sale using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Round your final answers to the...
Inventory Costing Methods-Periodic Method The Gleem Sales Corporation uses the periodic inventory system. On January 1.2015....
Inventory Costing Methods-Periodic Method The Gleem Sales Corporation uses the periodic inventory system. On January 1.2015. Gleem had 2,600 units of product B with a unit cost of s40 per unit. A summary of purchases and sales during 2015 follows: Unit Units Units Cost Purchased Sold Jan.3 Mar.8 $44 3,000 June 13 Sept.19 46 Nov.23 Dec.28 1,600 2,000 800 48 1,200 1,800 Required a. Assume that Gleem uses the first-in, first-out method Compute the cost of goods sold for 2015...
Inventory Costing Methods-Perpetual Method The Luann Company uses the perpetual inventory system. The following July data...
Inventory Costing Methods-Perpetual Method The Luann Company uses the perpetual inventory system. The following July data are for an item in Luann's inventory: July 1 Beginning inventory 30 units @ 10 Purchased $9 per unit 50 units @$11 per unit 15 Sold 60 units 26 Purchased 25 units @$13 per unit Calculate the cost of goods sold for the July 15 sale using (a) first-in, first-out, (b) last-in, first- out, and (c) the weighted-average cost methods. Round your final answers...
Sons Parts CORTELMATKU ODU S question Inventory Costing Methods-Periodic Method Chen Sales Corporation uses the periodic...
Sons Parts CORTELMATKU ODU S question Inventory Costing Methods-Periodic Method Chen Sales Corporation uses the periodic inventory system. On January 1, 2012, Chen had: 1,000 units of product A with a unit cost of $50 per unit. A summary of purchases and sales during 2012 follows: Feb 2 Apr.6 July 10 Aug 9 Oct.23 Dec 30 Unit Units Units Cost Purchased Sold 400 $52 1,800 1,600 56 59 1.200 Required a. Assume that Chen uses the first in, first-out method....
FIFO, LIFO and average cost method in periodic inventory system. Angelo Plc uses a periodic inventory...
FIFO, LIFO and average cost method in periodic inventory system. Angelo Plc uses a periodic inventory system. The beginning balance of inventory and purchases made by the company during the month of July, 2016 are given below: July 1: Beginning inventory, 500 units @ $20 per unit. July 18: Inventory purchased, 800 units @ $24 per unit. July 25: Inventory purchased, 700 units @ $26 per unit. The company sold 1,400 units during the month of July. Required: Compute inventory...
periodic inventory system merchandise inven LO2 • P6-2A. Inventory Costing Methods-Periodic Method Tally Stores uses the periodic inventory for its merchandise inventory. The April 1 inventory for one of the items in the merchandise tory consisted of 120 units with a unit cost of $330. Transactions for this item during April follows: April 9 Purchased 40 units @ $345 per unit. 14 Sold 80 units @ $550 per unit. 23 Purchased 20 units @ $360 per unit. 29 Sold 40...
Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory: May 1 Beginning inventory 450 units $34 per unit 12 Purchased 400 units 539 per unit 16 Sold 480 units 24 Purchased 460 units @ $40 per unit Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average cost methods. Do not...
Inventory Costing Methods . Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April 1 inventory for one of the items in the merchandise inventory consisted of 120 units with a unit cost of $335. Transactions for this item during April were as follows: April 9 Purchased 40 units $355 per unit 14 Sold 80 units @ $560 per unit 23 Purchased 20 units @ $360 per unit 29 Sold 40 units Required a. Calculate...
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Inventory Costing Methods - Periodic Method The Kali Company uses the periodic inventory system for its merchandise inventory. The June 1 inventory for one of the items in the merchandise inventory consisted of 60 units with a unit cost of $45. Transactions for this item during June were as follows: June 5 Purchased 40 units @ $50 per unit 13 Sold 50 units @ $95 per unit 25 Purchased 40 units @ $53 per unit 29...
Inventory Costing Methods-Periodic Method Spangler Company is a retailer that uses the periodic inventory system. March 1 Beginning inventory 100 units of Product Me $2.790 total cost 6 Purchased 200 units of Product Me $4,800 total cost 10 Purchased 150 units of Product M@ $4.200 total cost 15 Sold 180 units of Product M Calculate the March cost of goods sold and the ending inventory at March 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average...
Inventory Costing Methods-Periodic Method The Gleem Sales Corporation uses the periodic inventory system. On January 1.2015. Gleem had 2,600 units of product B with a unit cost of s40 per unit. A summary of purchases and sales during 2015 follows: Unit Units Units Cost Purchased Sold Jan.3 Mar.8 $44 3,000 June 13 Sept.19 46 Nov.23 Dec.28 1,600 2,000 800 48 1,200 1,800 Required a. Assume that Gleem uses the first-in, first-out method Compute the cost of goods sold for 2015...
Inventory Costing Methods-Perpetual Method The Luann Company uses the perpetual inventory system. The following July data are for an item in Luann's inventory: July 1 Beginning inventory 30 units @ 10 Purchased $9 per unit 50 units @$11 per unit 15 Sold 60 units 26 Purchased 25 units @$13 per unit Calculate the cost of goods sold for the July 15 sale using (a) first-in, first-out, (b) last-in, first- out, and (c) the weighted-average cost methods. Round your final answers...
Sons Parts CORTELMATKU ODU S question Inventory Costing Methods-Periodic Method Chen Sales Corporation uses the periodic inventory system. On January 1, 2012, Chen had: 1,000 units of product A with a unit cost of $50 per unit. A summary of purchases and sales during 2012 follows: Feb 2 Apr.6 July 10 Aug 9 Oct.23 Dec 30 Unit Units Units Cost Purchased Sold 400 $52 1,800 1,600 56 59 1.200 Required a. Assume that Chen uses the first in, first-out method....
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