Boxwood Company sells blankets for $39 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1.
Date | Blankets | Units | Cost |
May 03 | Purchase | 6 |
$18 |
10 | Sale | 3 | |
17 | Purchase | 13 |
$19 |
20 | Sale | 5 | |
23 | Sale | 3 | |
30 | Purchase | 13 |
$20 |
Assuming that the company uses the perpetual inventory system, determine the ending inventory for the month of May using the LIFO inventory cost method.
a. $504
b. $409
c. $205
d. $314
Ending inventory under lifo = (3*18) + (5*19) + (13*20) = 54 + 95 + 260 = 409 Option B is the answer |
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Boxwood Company sells blankets for $39 each. The following was taken from the inventory records during...
The Boxwood Company sells blankets for $38 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 03 Purchase 7 $20 10 Sale 5 17 Purchase 14 $17 20 Sale 6 23 Sale 2 30 Purchase 11 $23 Assuming that the company uses the perpetual inventory system, determine the cost of merchandise sold for the sale of May 20 using the LIFO inventory cost method....
The Boxwood Company sells blankets for $39 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 3 Purchase 10 $20 10 Sale 3 17 Purchase 11 $15 20 Sale 4 23 Sale 3 30 Purchase 11 $21 Assuming that the company uses the perpetual inventory system, determine the May 31 inventory balance using the FIFO inventory cost method. a.$462 b.$396 c.$330 d.$440
Calcuator The Boxwood Company sells blankets for $39 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost 33 $18 13 $20 May 3 10 17 20 23 30 Purchase Sale Purchase Sale Sale Purchase 25 23 2 29 $21 Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale of May 23 using the FIFO inventory cost method Ca....
The Boxwood Company sells blankets for $30 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 3 Purchase 10 $19 10 Sale 3 17 Purchase 9 $15 20 Sale 5 23 Sale 2 30 Purchase 12 $21 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the LIFO inventory cost method....
1. The Boxwood Company sells blankets for $34 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 3 Purchase 9 $16 10 Sale 3 17 Purchase 16 $17 20 Sale 5 23 Sale 2 30 Purchase 12 $22 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May...
Boxwood Company sells blankets for $40 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Blankets Units Date Cost Purchase $15 May 03 Sale 4 10 Purchase 17 13 $16 Sale 20 4 23 Sale 2 Purchase $18 30 13 Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale of May 23 using the FIFO inventory cost method. a. $48 b. $80...
Boxwood Company sells blankets for $37 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 03 Purchase 6 $18 10 Sale 3 17 Purchase 9 $17 20 Sale 4 23 Sale 2 30 Purchase 9 $18 Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale of May 23 using the FIFO inventory cost method. a.$40 b.$74 c.$24 d.$108
The Boxwood Company sells blankets for $ 39.00 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 03 Purchase 10 $16.00 May 10 Sale 5 May 17 Purchase 11 $18.00 May 20 Sale 6 May 23 Sale 2 May 30 Purchase 8 $23.00 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20...
The Boxwood Company sells blankets for $ 38.00 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 03 Purchase $19.00 May 10 Sale May 17 Purchase $16.00 May 20 Sale May 23 Sale May 30 Purchase $19.00 Assuming that the company uses the perpetual inventory system, determine the cost of goods sold for the sale of May 20 using the LIFO inventory cost method....
Calculator Print Item Boxwood Company sells blankets for $30 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 03 Purchase $15 10 Sale 17 Purchase 20 Sale 23 Sale 30 Purchase 12 $19 Assuming that the company uses the perpetual Inventory system, determine the ending inventory for the month of May using the LIFO inventory cost method. Ca. $328 b. $164 CC 5243 d....