Homework Answers
| Particular | Amount | Particular | Amount |
| Opening stock | 171,100 | sale revenue | 1,067,400 |
| Purchase | 686,700 | purchase discount | 11,300 |
| Freight in | 28,700 | Closing stock | 172,330 |
| Sales return | 63,300 | ||
| Gross profit | 301,230 | ||
| 1,251,030 | 1,251,030 |
Inventory at may 31 = 172,330
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PRINTER VERSIONE Exercise 9-14 (Part Level Submission) Riverbed Company uses the gross profit method to estimate...
PRINTER VERSION Exercise 9-14 (Part Level Submission) Riverbed Company uses the gross profit method to estimate...
PRINTER VERSION Exercise 9-14 (Part Level Submission) Riverbed Company uses the gross profit method to estimate Inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts $ 171,100 686,700 28,700 1,067,400 63,300 11,300 ▸ (a) (b) Compute the estimated Inventory at May 31, assuming that the gross profit is 30% of cost. (Round percentage of sales to 2 decimal places, e.g. 78.74 answer to...
Exercise 9-14 (Part Level Submission) Sandhill Company uses the gross profit method to estimate inventory for...
Exercise 9-14 (Part Level Submission) Sandhill Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts $ 160,700 595,100 28,600 1,028,100 74,200 11,600 (a) Your answer is correct. Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales. The estimated inventory at May 31 1 5 7375 SHOW SOLUTION...
Exercise 9-14 Stellar Company uses the gross profit method to estimate inventory for monthly reporting purposes....
Exercise 9-14
Stellar Company uses the gross profit method to estimate inventory
for monthly reporting purposes. Presented below is information for
the month of May.
Inventory, May 1
$ 167,300
Purchases (gross)
580,800
Freight-in
32,100
Sales revenue
979,300
Sales returns
73,300
Purchase discounts
11,300
Compute the estimated inventory at May 31, assuming that the
gross profit is 25% of net sales.
The estimated inventory at May 31
$enter the dollar amount of the estimated inventory at May 31
LINK TO...
Exercise 9-14 Vaughn Company uses the gross profit method to estimate inventory for monthly reporting purposes....
Exercise 9-14
Vaughn Company uses the gross profit method to estimate inventory
for monthly reporting purposes. Presented below is information for
the month of May.
Inventory, May 1
$ 167,300
Purchases (gross)
580,800
Freight-in
32,100
Sales revenue
979,300
Sales returns
73,300
Purchase discounts
11,300
Compute the estimated inventory at May 31, assuming that the
gross profit is 25% of net sales.
The estimated inventory at May 31
$enter the dollar amount of the estimated inventory at May 31
LINK TO...
Riverbed Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below...
Riverbed Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May Inventory, May 1 Purchases (gross) $165,900 633,400 Freight-in 30,300 Sales revenue 1,098,100 Sales returns 64,700 Purchase discounts 11.400 Part 1 Compute the estimated inventory at May 31, assuming that the gross profit is 40 % of net sales The estimated inventory at May 31 eTextbook and Media Part 2 Compute the estimated inventory at May 31, assuming...
Exercise 9-14 Vaughn Company uses the gross profit method to estimate inventory for monthly reporting purposes....
Exercise 9-14 Vaughn Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts 174,600 607,000 29,300 983,300 67,700 12,700 Compute the estimated inventory at May 31, assuming that the gross profit is 20% of net sales. The estimated inventory at May 31 LINK TO TEXT VIDEO: SIMILAR EXERCISE Compute the estimated inventory at May 31, assuming...
Concord Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below...
Concord Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Compute the estimated inventory at May 31, assuming that the gross profit is 25% of cost. (Round percentage of sales to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.g. 6,225.) ________ Inventory, May 1 $ 149,100 Purchases (gross) 683,200 Freight-in 28,700 Sales revenue 998,600 Sales returns 76,500 Purchase discounts 11,000
Exercise 9-14 Mark Price Company uses the gross profit method to estimate inventory for monthly reporting...
Exercise 9-14 Mark Price Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts $ 160,000 640,000 30,000 1,000,000 70,000 12,000 X] your answer is incorrect. Try again. Compute the estimated inventory at May 31, assuming that the gross profit is 30% of net sales. The estimated inventory at May 31 246,000 $ LINK TO TEXT...
CALCULATOR INTER VERSION BACK NEX Exercise 9-14 Metlock Company uses the gross profit method to estimate...
CALCULATOR INTER VERSION BACK NEX Exercise 9-14 Metlock Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 $ 156,500 Purchases (gross) 628,400 Freight-in 31,900 Sales revenue 1,029,400 Sales returns 74,600 Purchase discounts 10.800 Compute the estimated Inventory at May 31, assuming that the gross profit is 40% of net sales The estimated Inventory at May 31 Compute the estimated Inventory at May 31, assuming...
E9.14 (LO 4) (Gross Profit Method) Mark Price Company uses the gross profit method to estimate...
E9.14 (LO 4) (Gross Profit Method) Mark Price Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 $160,000 Purchases (gross) 640,000 Freight-in 30,000 Sales revenue 1,000,000 Sales returns 70,000 Purchase discounts 12,000 Instructions a. Compute the estimated inventory at May 31, assuming that the gross profit is 30% of sales. b. Compute the estimated inventory at May 31, assuming that the gross profit is 30% of...
PRINTER VERSION Exercise 9-14 (Part Level Submission) Riverbed Company uses the gross profit method to estimate Inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts $ 171,100 686,700 28,700 1,067,400 63,300 11,300 ▸ (a) (b) Compute the estimated Inventory at May 31, assuming that the gross profit is 30% of cost. (Round percentage of sales to 2 decimal places, e.g. 78.74 answer to...
Exercise 9-14 (Part Level Submission) Sandhill Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts $ 160,700 595,100 28,600 1,028,100 74,200 11,600 (a) Your answer is correct. Compute the estimated inventory at May 31, assuming that the gross profit is 25% of net sales. The estimated inventory at May 31 1 5 7375 SHOW SOLUTION...
Exercise 9-14
Stellar Company uses the gross profit method to estimate inventory
for monthly reporting purposes. Presented below is information for
the month of May.
Inventory, May 1
$ 167,300
Purchases (gross)
580,800
Freight-in
32,100
Sales revenue
979,300
Sales returns
73,300
Purchase discounts
11,300
Compute the estimated inventory at May 31, assuming that the
gross profit is 25% of net sales.
The estimated inventory at May 31
$enter the dollar amount of the estimated inventory at May 31
LINK TO...
Exercise 9-14
Vaughn Company uses the gross profit method to estimate inventory
for monthly reporting purposes. Presented below is information for
the month of May.
Inventory, May 1
$ 167,300
Purchases (gross)
580,800
Freight-in
32,100
Sales revenue
979,300
Sales returns
73,300
Purchase discounts
11,300
Compute the estimated inventory at May 31, assuming that the
gross profit is 25% of net sales.
The estimated inventory at May 31
$enter the dollar amount of the estimated inventory at May 31
LINK TO...
Riverbed Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May Inventory, May 1 Purchases (gross) $165,900 633,400 Freight-in 30,300 Sales revenue 1,098,100 Sales returns 64,700 Purchase discounts 11.400 Part 1 Compute the estimated inventory at May 31, assuming that the gross profit is 40 % of net sales The estimated inventory at May 31 eTextbook and Media Part 2 Compute the estimated inventory at May 31, assuming...
Exercise 9-14 Vaughn Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts 174,600 607,000 29,300 983,300 67,700 12,700 Compute the estimated inventory at May 31, assuming that the gross profit is 20% of net sales. The estimated inventory at May 31 LINK TO TEXT VIDEO: SIMILAR EXERCISE Compute the estimated inventory at May 31, assuming...
Exercise 9-14 Mark Price Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 Purchases (gross) Freight-in Sales revenue Sales returns Purchase discounts $ 160,000 640,000 30,000 1,000,000 70,000 12,000 X] your answer is incorrect. Try again. Compute the estimated inventory at May 31, assuming that the gross profit is 30% of net sales. The estimated inventory at May 31 246,000 $ LINK TO TEXT...
CALCULATOR INTER VERSION BACK NEX Exercise 9-14 Metlock Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 $ 156,500 Purchases (gross) 628,400 Freight-in 31,900 Sales revenue 1,029,400 Sales returns 74,600 Purchase discounts 10.800 Compute the estimated Inventory at May 31, assuming that the gross profit is 40% of net sales The estimated Inventory at May 31 Compute the estimated Inventory at May 31, assuming...
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