Oriole Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $390 each. On January 10, Oriole purchased 6 units at $460 each. The company sold 2 units on January 8 and 5 units on January 15.
Compute the ending inventory under FIFO, LIFO and ending inventory under moving-average cost
Unit | Unit Cost | Total Cost | |
Beginning inventory | 3 | 390 | 1170 |
Sale Jan 8 | 2 | ||
Purchase Jan 10 | 6 | 460 | 2760 |
Sale Jan 15 | 5 |
Total units available for sale = 3+6 = 9 Units
Sale unit = 2+5 = 7 Units
a) FIFO = 2*460 = 920
b) LIFO = 390+460 = 850
c) Weighted average = (1*390+2760)/7*2 = 900
Oriole Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory...
Bridgeport Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 5 sets at $575 each. On January 10, Bridgeport purchased 7 units at $710 each. The company sold 2 units on January 8 and 4 units on January 15. Compute the ending inventory under FIFO. Compute the ending inventory under LIFO. Compute the ending inventory under moving-average cost.
Sarasota Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $605 each. On January 10, Sarasota purchased 6 units at $745 each. The company sold 2 units on January 8 and 4 units on January 15. Compute the ending inventory under FIFO. (Round answer to 0 decimal places, e.g. 1,250.) FIFO $ The ending inventory eTextbook and Media 0 decimal places, e.g. 1,250.) Compute the ending inventory under LIFO. (Round...
Bufford Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $650 each. On January 10, Bufford purchased 7 units at $670 each. The company sold 2 units on January 8 and 4 units on January 15. Compute the ending inventory under LIFO $
Sarasota Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 5 sets at $655 each. On January 10, Sarasota purchased 8 units at $755 each. The company sold 2 units on January 8 and 4 units on January 15. Incorrect answer iconYour answer is incorrect. Compute the ending inventory under FIFO. (Round answer to 0 decimal places, e.g. 1,250.) FIFO The ending inventory $ eTextbook and Media Assistance Used eTextbook Incorrect...
Crane Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $580 each. On January 10, Crane purchased 6 units at $650 each. The company sold 2 units on January 8 and 5 units on January 15. Your answer is incorrect. Try again. Compute the ending inventory under FIFO. (Round answer to 0 decimal places, e.g. 1,250.) FIFO The ending inventory $ Your answer is incorrect. Try again. Compute the ending...
36916/assignments/321835 Question 4 View Policies Current Attempt in Progress Oriole Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $390 January 10, Oriole purchased 6 units at $460 each. The company sold 2 units on January 8 and 5 units on January 15. Compute the ending Inventory under FIFO. (Round answer to decimal places, es: 1.250) FIFO The ending inventory e Textbook and Media Attempts:0 of 3 used for
Olca Exercise 6-16 (Part Level Submission) Bufford Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $600 each. On January 10, Bufford purchased 6 units at $660 each. The company sold 2 units on January 8 and 4 units on January 15. v (a) Your answer is correct. Compute the ending inventory under FIFO. (Round answer to 0 decimal places, e.g. 1,250.) O LO L 00 Old Slui. FIFO The...
Oriole Company began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Date Units Unit Cost Sales Units July 1 10 $58 July 6 8 July 11 6 $62 July 14 6 July 21 8 $66 July 27 7 Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average, and (3) LIFO. (For calculation and answers purpose round unit costs to 2 decimal places,...
IS weyqandte Accounting Principles, 13e CALCULATOR PRINTER VERSION 4 BACK NEXT Exercise 6-16 a-c Swifty Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $402 each. On January 10, Swifty purchased 6 units at $500 each. The company sold 2 units on January 8 and 5 units on January 15. Your answer is correct. Compute the ending inventory under FIFO. (Round answer to o decimal places, e.g. 1,250.) FIFO The...
Oriole Company is a retailer operating in Calgary, Alberta. Oriole uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Oriole for the month of January 2022. Dec.31 Ending Inventory - 175 units - $20 each Jan 2. Purchase - 105 units - $28 each Jan 6. Sale 193 units - $44 each Jan 9. Purchase 58 units - $25 each Jan 10. Sale...