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Date Jan. 2nd Jan. 5th Jan. 10th # of Units Beginning Inv. 60 Purchase 90 Sell...
Below is the same data presented in Question 3. Date # of Units Unit Cost Jan....
Below is the same data presented in Question 3. Date # of Units Unit Cost Jan. 2nd 60 $10 Jan. 5th Beginning Inv. Purchase Sell Inventory 90 $11 Jan. 10th 130 Assuming your company uses FIFO (First in First out): What is the dollar value of Cost of Goods Sold for the Jan. 10th Sale? $ What is the ending inventory in units? What is the dollar value of ending inventory? $ Below is the same data presented in Question...
Below is the same data presented in Question 3. Date # of Units Beginning 9 60...
Below is the same data presented in Question 3. Date # of Units Beginning 9 60 Unit Cost Jan. 2nd $10 Jan. Purchase 90 $11 5th Jan. 10th Sell Inventory 130 Assuming your company uses LIFO (Last in First out): What is the dollar value of Cost of Goods Sold for the Jan. 10th Sale? $ (do not include decimals) What is ending inventory in units? What is the value of ending inventory? $ Below is the same data presented...
Below is the same data presented in Question 3. Date # of Units Unit Cost Jan....
Below is the same data presented in Question 3. Date # of Units Unit Cost Jan. 2nd 60 $10 Jan. 5th Beginning Inv. Purchase Sell Inventory 90 Jan. 10th 130 Assuming your company uses the weighted average to value Cost of Goods Sold: What is the average cost per unit on Jan. 10th (round to the nearest cent)? $ What is the dollar value of Cost of Goods Sold for the Jan. 10th Sale? $ What is the ending inventory...
The following chart provides purchases and sales of inventory. Below is the Inventory activity for your...
The following chart provides purchases and sales of inventory. Below is the Inventory activity for your company # of Units Unit Cost Date Total Cost Jan. 2nd Beginning Inv. 60 $10 Jan. 5th Purchase 90 $11 Jan. 10th Sell Inventory 130 How many units are available for sale on Jan. 10th? What is the Cost of Goods Available for Sale? $ (do not include decimals or a dollar sign)
INVENTORY ITEM 621AB UNITS DATE COST Beginning Inventory $6 $7 Jan 1 120 Purchase 200 Jan...
INVENTORY ITEM 621AB UNITS DATE COST Beginning Inventory $6 $7 Jan 1 120 Purchase 200 Jan 7 Sale Jan 10 250 Purchase $8 Jan 15 300 Jan 17 Purchase $9 200 Sale 325 Jan 20 Sale Jan 25 100 Jan 28 Purchase $10 175 Smith Corporation uses a perpetual inventory system. Determine the costs assigned to Cost of Goods Sold and Ending Inventory using both FIFO and LIFO methods. DATE ITEM RED16 UNITS COST Beginning Inventory $10 Jan 1 100...
beginning inventory and purchases Sales Date Units Unit Cost Total Date Units Beg. Inv. 6250 3...
beginning inventory and purchases Sales Date Units Unit Cost Total Date Units Beg. Inv. 6250 3 18750 15-Mar 5000 3.12 15600 3-Feb 5250 10-May 8750 3.3 28875 4-May 4250 12-Aug 6250 3.48 21750 16-Sep 8000 20-Nov 3750 3.72 13950 9-Oct 7250 TOTAL 30000 TOTAL 25000 Beg. Inv 6250 Purchses 23750 (total - beg. Inv) Goods Ava. 30000 Sales 25000 Ending inv. 5000 (purchase-sales) Ending inv. Under specific identification Didn't provide sale so omit this part Ending inv. Under FIFO Sales...
Number of Units Unit Cost Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase...
Number of Units Unit Cost Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Total Cost $ 2,484 6,432 10,404 5,928 $25,248 SOG For the entire year, the company sells 440 units of inventory for $64 each. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit Cost of Goods Available for Sale LIFO Ending Inventory Cost of Goods Sold Cost per Cost per unit # of units Cost of...
Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 60 $ 52...
Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 60 $ 52 $ 3,120 Apr. 7 Purchase 140 54 7,560 Jul. 16 Purchase 210 57 11,970 Oct. 6 Purchase 120 58 6,960 530 $ 29,610 For the entire year, the company sells 450 units of inventory for $70 each. Exercise 6-4A Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 190 units...
Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 190 units @ $ 7.00 = $ 1,330 Jan. 10 Sales 150 units @ $ 16.00 Jan. 20 Purchase 110 units @ $ 6.00 = 660 Jan. 25 Sales 130 units @ $ 16.00 Jan. 30 Purchase 280 units @ $ 5.50 = 1,540 Totals 580 units $ 3,530 280 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 300...
Beg. inventory 10 units at $50 1st purchase 20 units at $60 2nd purchase 52 units...
Beg. inventory 10 units at $50 1st purchase 20 units at $60 2nd purchase 52 units at $65 3rd purchase 25 units at $63 4th purchase 37 units at $64 If Keisy sold107 units of inventory, calculate (show work) ending inventory and cost of goods sold using the LIFO method?
Below is the same data presented in Question 3. Date # of Units Unit Cost Jan. 2nd 60 $10 Jan. 5th Beginning Inv. Purchase Sell Inventory 90 $11 Jan. 10th 130 Assuming your company uses FIFO (First in First out): What is the dollar value of Cost of Goods Sold for the Jan. 10th Sale? $ What is the ending inventory in units? What is the dollar value of ending inventory? $ Below is the same data presented in Question...
Below is the same data presented in Question 3. Date # of Units Beginning 9 60 Unit Cost Jan. 2nd $10 Jan. Purchase 90 $11 5th Jan. 10th Sell Inventory 130 Assuming your company uses LIFO (Last in First out): What is the dollar value of Cost of Goods Sold for the Jan. 10th Sale? $ (do not include decimals) What is ending inventory in units? What is the value of ending inventory? $ Below is the same data presented...
Below is the same data presented in Question 3. Date # of Units Unit Cost Jan. 2nd 60 $10 Jan. 5th Beginning Inv. Purchase Sell Inventory 90 Jan. 10th 130 Assuming your company uses the weighted average to value Cost of Goods Sold: What is the average cost per unit on Jan. 10th (round to the nearest cent)? $ What is the dollar value of Cost of Goods Sold for the Jan. 10th Sale? $ What is the ending inventory...
The following chart provides purchases and sales of inventory. Below is the Inventory activity for your company # of Units Unit Cost Date Total Cost Jan. 2nd Beginning Inv. 60 $10 Jan. 5th Purchase 90 $11 Jan. 10th Sell Inventory 130 How many units are available for sale on Jan. 10th? What is the Cost of Goods Available for Sale? $ (do not include decimals or a dollar sign)
INVENTORY ITEM 621AB UNITS DATE COST Beginning Inventory $6 $7 Jan 1 120 Purchase 200 Jan 7 Sale Jan 10 250 Purchase $8 Jan 15 300 Jan 17 Purchase $9 200 Sale 325 Jan 20 Sale Jan 25 100 Jan 28 Purchase $10 175 Smith Corporation uses a perpetual inventory system. Determine the costs assigned to Cost of Goods Sold and Ending Inventory using both FIFO and LIFO methods. DATE ITEM RED16 UNITS COST Beginning Inventory $10 Jan 1 100...
Number of Units Unit Cost Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Total Cost $ 2,484 6,432 10,404 5,928 $25,248 SOG For the entire year, the company sells 440 units of inventory for $64 each. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit Cost of Goods Available for Sale LIFO Ending Inventory Cost of Goods Sold Cost per Cost per unit # of units Cost of...
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