Homework Answers
The Correct Answer is $402,500
Cost of Goods sold = Beginning Inventory + Purchases - Ending Inventory
Beginning Inventory = $71,100
Purchases = $391,400
Ending Inventory = $60,000
Therefore Cost of Goods sold = $71,100 + $391,400 - $60,000
= $402,500
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urrent Attempt in Progress Your answer is incorrect. Bramble Corp.sold goods with a total selling price...
--/1 Question 1 View Policies Current Attempt in Progress Moore Wholesalers is preparing its merchandise purchases...
--/1 Question 1 View Policies Current Attempt in Progress Moore Wholesalers is preparing its merchandise purchases budget. Budgeted sales are $140,000 for April and $520,000 fol May Cost of goods sold is expected to be 61% of sales. The company's desired ending Inventory is 21% of the following month's cost of goods sold. port Compute the required purchases for April Moore Wholesalers Purchases Budget e Textbook and Media Attempts: 0 of 2 used Save for Later Send to Gradebook
Show Attempt History Current Attempt in Progress Bramble Corp, markets CDs of numerous performing artists. At...
Show Attempt History Current Attempt in Progress Bramble Corp, markets CDs of numerous performing artists. At the beginning of March, Bramble had in beginning inventory.co $6. During March, Bramble made the following purchases of CDs. m March March 13 2,000 @ $7 3,700 e $8 March 21 4,600 $9 March 26 2,000 @ $10 During March 11,900 units were sold. Bramble uses a periodic inventory system * Your answer is incorrect Determine the cost of goods available for sale. The...
please help with this accounting problem! Send to Gradebook Question 4 View Policies Current Attempt in Progress Ta...
please help with this accounting problem!
Send to Gradebook Question 4 View Policies Current Attempt in Progress Tamarisk, Inc. took a physical inventory on December 31 and determined that goods costing $190,000 were on hand. Not included in the physical count were $29.000 of goods purchased from Sheffield Corp. FOB, shipping point, and $24,000 of goods sold to Wildhorse Co. for $33.000, FOB destination Both the Sheffield purchase and the Wildhorse sale were in transit at year-end. What amount should...
View Policies Current Attempt in Progress Bramble Corp.has $24000 of ending finished goods inventory as of...
View Policies Current Attempt in Progress Bramble Corp.has $24000 of ending finished goods inventory as of December 31, 2013. If beginning finished goods inventory was $18000 and cost of goods sold was $53000, how much would Bramble report for cost of goods manufactured? $59000 $18000 $77000 $47000 Attempts: 0 of 1 used Submit Answer Save for Later
Question 10 0/1 View Policies Show Attempt History Current Attempt in Progress Tamarisk Company uses a...
Question 10 0/1 View Policies Show Attempt History Current Attempt in Progress Tamarisk Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 230 April 15 purchase 360 $26 31 34 $5,980 11,160 13,940 $31,080 April 23 purchase _410 1,000 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold...
Question 2 View Policies Show Attempt History Current Attempt in Progress Marin Inc. uses a perpetual...
Question 2 View Policies Show Attempt History Current Attempt in Progress Marin Inc. uses a perpetual inventory system. Data for product includes the following purchases. Date Number of Units Unit Price May 7 60 July 28 45 On June 1, Marin sold 30 units, and on August 27,45 more X Your answer is incorrect. Calculate the average cost of the goods sold in the sale. (Roun decimal places, e.g. 5.125.) June 1 sale: 4,615 $ $ Aug. 27 sale: 2.500...
urrent Attempt in Progress Blossom Company sells a snowboard, EZ slide, that is popular with snowboard...
urrent Attempt in Progress Blossom Company sells a snowboard, EZ slide, that is popular with snowboard enthusiasts. Below is information relating to Blossom Company's purchases of EZslide snowboards during September During the same month, 104 EZslide snowboards were sold. Blossom Company uses a periodic Inventory system Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $115 $1.495 Sept. 12 Purchases 118 5,664 Sept. 19 Purchases 6664 Sept. 26 Purchases 2.760 Totals 140 $16,583 (a) Compute the ending inventory...
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Send to Gradebook Question 8 View Policies Current Attempt in Progress Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes recevable, or other receivables on a balance sheet. (a) Advanced $10,000 to an employee. (b) Received a promissory note of $34,000 for services performed. (d) Sold merchandise on account for $60,000 to a customer. e Textbook and Media List of Accounts Attempts: 0 of 3 used Save for Later Su
uestion 9 of 11 ew Policies urrent Attempt in Progress For each of the following accounts,...
uestion 9 of 11 ew Policies urrent Attempt in Progress For each of the following accounts, indicate the effect of a debit or credit on the accoun normal balance. Debit Effect Credit Effect Normal a. Bonds Payable. Decrease Increase b. Unearned Service Revenue. c. Depreciation Expense. d. Common Stock e. Buildings. f. Rent Revenue. e Textbook and Media Save for Later Attempts: 0 of 3 used Subm cBook Air stion 9 of 11 < Policies ent Attempt in Progress reach...
urrent Attempt in Progress Crane Legler requires an estimate of the cost of goods lost by...
urrent Attempt in Progress Crane Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $40,280. Purchases since January 1 were $76,320;freight-in, $3,604; purchase returns and allowances, $2,544. Sales are made at 33 1/3% above cost and totaled $120,000 to March 9. Goods costing $11,554 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer...
--/1 Question 1 View Policies Current Attempt in Progress Moore Wholesalers is preparing its merchandise purchases budget. Budgeted sales are $140,000 for April and $520,000 fol May Cost of goods sold is expected to be 61% of sales. The company's desired ending Inventory is 21% of the following month's cost of goods sold. port Compute the required purchases for April Moore Wholesalers Purchases Budget e Textbook and Media Attempts: 0 of 2 used Save for Later Send to Gradebook
Show Attempt History Current Attempt in Progress Bramble Corp, markets CDs of numerous performing artists. At the beginning of March, Bramble had in beginning inventory.co $6. During March, Bramble made the following purchases of CDs. m March March 13 2,000 @ $7 3,700 e $8 March 21 4,600 $9 March 26 2,000 @ $10 During March 11,900 units were sold. Bramble uses a periodic inventory system * Your answer is incorrect Determine the cost of goods available for sale. The...
please help with this accounting problem!
Send to Gradebook Question 4 View Policies Current Attempt in Progress Tamarisk, Inc. took a physical inventory on December 31 and determined that goods costing $190,000 were on hand. Not included in the physical count were $29.000 of goods purchased from Sheffield Corp. FOB, shipping point, and $24,000 of goods sold to Wildhorse Co. for $33.000, FOB destination Both the Sheffield purchase and the Wildhorse sale were in transit at year-end. What amount should...
View Policies Current Attempt in Progress Bramble Corp.has $24000 of ending finished goods inventory as of December 31, 2013. If beginning finished goods inventory was $18000 and cost of goods sold was $53000, how much would Bramble report for cost of goods manufactured? $59000 $18000 $77000 $47000 Attempts: 0 of 1 used Submit Answer Save for Later
Question 10 0/1 View Policies Show Attempt History Current Attempt in Progress Tamarisk Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 230 April 15 purchase 360 $26 31 34 $5,980 11,160 13,940 $31,080 April 23 purchase _410 1,000 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold...
Question 2 View Policies Show Attempt History Current Attempt in Progress Marin Inc. uses a perpetual inventory system. Data for product includes the following purchases. Date Number of Units Unit Price May 7 60 July 28 45 On June 1, Marin sold 30 units, and on August 27,45 more X Your answer is incorrect. Calculate the average cost of the goods sold in the sale. (Roun decimal places, e.g. 5.125.) June 1 sale: 4,615 $ $ Aug. 27 sale: 2.500...
urrent Attempt in Progress Blossom Company sells a snowboard, EZ slide, that is popular with snowboard enthusiasts. Below is information relating to Blossom Company's purchases of EZslide snowboards during September During the same month, 104 EZslide snowboards were sold. Blossom Company uses a periodic Inventory system Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $115 $1.495 Sept. 12 Purchases 118 5,664 Sept. 19 Purchases 6664 Sept. 26 Purchases 2.760 Totals 140 $16,583 (a) Compute the ending inventory...
Send to Gradebook Question 8 View Policies Current Attempt in Progress Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes recevable, or other receivables on a balance sheet. (a) Advanced $10,000 to an employee. (b) Received a promissory note of $34,000 for services performed. (d) Sold merchandise on account for $60,000 to a customer. e Textbook and Media List of Accounts Attempts: 0 of 3 used Save for Later Su
uestion 9 of 11 ew Policies urrent Attempt in Progress For each of the following accounts, indicate the effect of a debit or credit on the accoun normal balance. Debit Effect Credit Effect Normal a. Bonds Payable. Decrease Increase b. Unearned Service Revenue. c. Depreciation Expense. d. Common Stock e. Buildings. f. Rent Revenue. e Textbook and Media Save for Later Attempts: 0 of 3 used Subm cBook Air stion 9 of 11 < Policies ent Attempt in Progress reach...
urrent Attempt in Progress Crane Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $40,280. Purchases since January 1 were $76,320;freight-in, $3,604; purchase returns and allowances, $2,544. Sales are made at 33 1/3% above cost and totaled $120,000 to March 9. Goods costing $11,554 were left undamaged by the fire; remaining goods were destroyed. Compute the cost of goods destroyed. (Round gross profit percentage and final answer...
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