Ending Inventory = $10,000
Working
LIFO | ||||
Total Units Available for sale | 400 | |||
Units Sold | 310 | |||
Closing Stock in Units | 90 | |||
Valuation | ||||
Ending Inventory | 40 | @ | $ 110.00 | $ 4,400 |
50 | @ | $ 112.00 | $ 5,600 | |
Value Of Ending Inventory | $ 10,000 | |||
Cost of Goods sold | $ 35,080 |
.
Units | Cost per unit | value | |
Beginning Balance | 40 | $ 110.00 | $ 4,400 |
Purchases | |||
240 | $ 112.00 | $ 26,880 | |
120 | $ 115.00 | $ 13,800 | |
Total | 400 | $ 45,080 |
16. Oscar Industries has the following inventory information. July 1 Beginning Inventory 40 units at $110...
• 17. Oscar Industries has the following inventory information July 1 Beginning Inventory 40 units at $110 5 Purchases 240 units at $112 14 Sale 160 units 21 Purchases 120 units at $115 30 Sale 150 units Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a FIFO basis?
Whispering has the following inventory data: July 1 Beginning inventory 46 units at $110 5 Purchases 276 units at $103 14 Sale 184 units 21 Purchases 138 units at $106 30 Sale 129 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis? $15463 $15555 $32653 $32561
Vaughn has the following inventory data: July 1 Beginning inventory 31 units at $61 5 Purchases 184 units at $57 14 Sale 122 units 21 Purchases 92 units at $59 30 Sale 86 units Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis for July?
Question 17 Classic Floors has the following inventory data: July 1 Beginning inventory 30 units at $6.00 5 Purchases 120 units at $6.60 14 Sale 80 units 21 Purchases 60 units at $7.20 30 Sale 56 units Assuming that a perpetual inventory system is used, what is the cost of goods sold on a LIFO basis for July? A. $696.00 B. $931.20 C. $1,404.00
Wildhorse has the following inventory data: July 1 Beginning inventory 5 Purchases 14 Sale 21 Purchases 30 Sale 32 units at $65 194 units at $60 130 units 97 units at $63 91 units Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis for July? $6586 $6286 $6298 $6334
Cheyenne has the following inventory data: July 1 Beginning inventory 26 units at $5.30 5 Purchases 106 units at $5.80 14 Sale 70 units 21 Purchases 53 units at $6.30 30 Sale 49 units Assuming that a perpetual inventory system is used, what is the cost of goods sold on a LIFO basis for July? $540.60 $1086.50 $714.70 $371.80
Oriole has the following inventory data: July 1 Beginning inventory 5 Purchases 14 Sale 21 Purchases 30 Sale 56 units at $134 336 units at $125 224 units 168 units at $129 157 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis? $22879 $48129 $23047 $48297
Bonkers Bananas has the following inventory data: July 1 Beginning inventory 42 units at $21 $882 7 Purchases 148 units at $22 3256 22 Purchases 21 units at $23 483 $4621 A physical count of merchandise inventory on July 30 reveals that there are 53 units on hand. Using the LIFO inventory method, the amount allocated to ending inventory for July is $1187. $1219. $1124. $1113
- 15. Pasquale has the following inventory information. July 1 Beginning Inventory 20 units at $19 $ 380 7 Purchases 70 units at $20 1,400 22 Purchases 10 units at $24 240 $2,020 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is a. $1,390. b. $1,414. c. $1,470. d. $1,440.
Sheffield has the following inventory information. July 1 Beginning Inventory 20 units at $16 $320 7 Purchases 70 units at $21 1470 22 Purchases 20 units at $23 460 $2250 A physical count of merchandise inventory on July 31 reveals that there are 35 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is