Homework Answers
| Cost of goods sold on June 15: | ||
| From beginning inventory | 660 | |
| From June 6 purchase | 1105 | =(140-55)*13 |
| Cost of goods sold on June 15 | 1765 | |
| Option A $1,765 is correct |
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Assume DSL, Inc., began June with 55 units of inventory that cost a total of $660....
Assume BLM, Inc., began October with 95 units of Inventory that cost a total of $1,710....
Assume BLM, Inc., began October with 95 units of Inventory that cost a total of $1,710. During October, BLM, Ino, purchased and sold goods as follows: i (Click the icon to view the transactions.) BLM, Inc., unes perpetual inventory. Under the average cost inventory method, how much is BLM's cost of goods sold for the sale on October 167 Round unit cost to the nearest cont. O A. $1,990.00 O B. $2,441.80 OC. $1,934.30 OD. $2,465.00 of $1,710. During October,...
Assume Clickaway.com began June with 10 units of inventory that cost a total of $180. During...
Assume Clickaway.com began June with 10 units of inventory that cost a total of $180. During June, Clickaway.com purchased and sold goods as follows: (Click the icon to view the purchases and salos) Suppose Clickaway.com used the weighted average inventory costing method and the perpetual inventory system. Compute the weighted average unit cost of the company's inventory on hand at June 8. Round weighted average unit cost to the nearest cant. A. $18.75 OB. $20.00 OC. $18.50 OD. Cannot be...
Assume Fairprice.com began June with 12 units of inventory that cost a total of $180. During June, Fairprice.com purcha...
Assume Fairprice.com began June with 12 units of inventory that cost a total of $180. During June, Fairprice.com purchased and sold goods as follows: Jun. 8 14 22 27 Purchase Sale Purchase Sale 36 units @ $16 30 units @ $32 24 units @ $18 36 units @ $32 Suppose Fairprice.com used the weighted average inventory costing method and the perpetual inventory system. Compute the weighted average unit cost of the company's inventory on hand at June 8. Round weighted-average...
Assume ShoeFanatic.com began January with 14. units of inventory that cost a total of $266. During...
Assume ShoeFanatic.com began January with 14. units of inventory that cost a total of $266. During January, ShoeFanatic.com purchased and sold goods as follows: Jan. 8 Purchase 42 units @ $20 14 Sale 35 units @ $40 22 Purchase 28 units @ $22 27 Sale 42 units @ $40 Under the FIFO inventory costing method and the perpetual inventory system, how much is ShoeFanatic.com's cost of goods sold for the sale on January 147 OA. 51,106 OB. $1,400 OC. $700...
A company just starting its business made the following four inventory purchases in June: Date Jun...
A company just starting its business made the following four inventory purchases in June: Date Jun 1 Jun 10 Jun 15 Jun 28 Number of Units Total Cost 150 $480 200 660 200 680 150 525 On June 25, the company made its first sale when a local customer purchased 500 units for $3,500. The company uses a perpetual inventory system. Using the FIFO cost formula, the cost of the ending inventory on June 30 is $695. $1,650. O $645....
Assume Nile.com began May with 16 units of inventory that cost a total of $272. During...
Assume Nile.com began May with 16 units of inventory that cost a total of $272. During May, Nile.com purchased and sold goods as follows: May 8 Purchase 48 units @ $18 14 Sale 40 units @ $36 22 Purchase 32 units @ $20 27 Sale 48 units @ $36 Under the FIFO inventory costing method and the perpetual inventory system, how much is Nile.com's cost of goods sold for the sale on May 14? O A. $720 O B. $704...
Assume Shopping.com began March with 16 units of inventory that cost a total of $288. During...
Assume Shopping.com began March with 16 units of inventory that cost a total of $288. During March, Shopping.com purchased and sold goods as follows: Mar. 8 14 22 27 Purchase 48 units @ $19 Sale 40 units @ $38 Purchase 32 units @ $21 Sale 48 units @ $38 Under the FIFO inventory costing method and the perpetual inventory system, how much is Shopping.com's cost of goods sold for the sale on March 14? O A. $760 OB. $744 O...
Assume Store.com began October with 8 units of inventory that cost a total of $128. During...
Assume Store.com began October with 8 units of inventory that cost a total of $128. During October, Store.com purchased and sold goods as follows: Oct. B Purchase 24 units @ $17 14 Sale 20 units @ $34 22 Purchase 16 units @ $19 27 Salo 24 units $34 Under the FIFO inventory costing method and the perpetual inventory system, how much is Store.com's cost of goods sold for the sale on October 14? O A. $680 $340 OOO $536
Assume ShoeFanatic.com began October with 14 units of inventory that cost a total of $210. During...
Assume ShoeFanatic.com began October with 14 units of inventory that cost a total of $210. During October, ShoeFanatic.com purchased and sold goods as follows: Oct. 8 Purchase 42 units @ $16 14 Sale 35 units @ $32 22 Purchase 28 units @ $18 27 Sale 42 units @ $32 Suppose ShoeFanatic.com used the weighted average inventory costing method and the perpetual inventory system. Compute the weighted average unit cost of the company's inventory on hand at October 8. Round weighted...
5 Steel Mill began August with 55 units of iron inventory that cost $35 each. During...
5 Steel Mill began August with 55 units of iron inventory that cost $35 each. During August, the company completed the following inventory transactions: Click the icon to view the transactions.) Read the requirements ple-29 Requirement 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have...
Assume BLM, Inc., began October with 95 units of Inventory that cost a total of $1,710. During October, BLM, Ino, purchased and sold goods as follows: i (Click the icon to view the transactions.) BLM, Inc., unes perpetual inventory. Under the average cost inventory method, how much is BLM's cost of goods sold for the sale on October 167 Round unit cost to the nearest cont. O A. $1,990.00 O B. $2,441.80 OC. $1,934.30 OD. $2,465.00 of $1,710. During October,...
Assume Clickaway.com began June with 10 units of inventory that cost a total of $180. During June, Clickaway.com purchased and sold goods as follows: (Click the icon to view the purchases and salos) Suppose Clickaway.com used the weighted average inventory costing method and the perpetual inventory system. Compute the weighted average unit cost of the company's inventory on hand at June 8. Round weighted average unit cost to the nearest cant. A. $18.75 OB. $20.00 OC. $18.50 OD. Cannot be...
Assume Fairprice.com began June with 12 units of inventory that cost a total of $180. During June, Fairprice.com purchased and sold goods as follows: Jun. 8 14 22 27 Purchase Sale Purchase Sale 36 units @ $16 30 units @ $32 24 units @ $18 36 units @ $32 Suppose Fairprice.com used the weighted average inventory costing method and the perpetual inventory system. Compute the weighted average unit cost of the company's inventory on hand at June 8. Round weighted-average...
Assume ShoeFanatic.com began January with 14. units of inventory that cost a total of $266. During January, ShoeFanatic.com purchased and sold goods as follows: Jan. 8 Purchase 42 units @ $20 14 Sale 35 units @ $40 22 Purchase 28 units @ $22 27 Sale 42 units @ $40 Under the FIFO inventory costing method and the perpetual inventory system, how much is ShoeFanatic.com's cost of goods sold for the sale on January 147 OA. 51,106 OB. $1,400 OC. $700...
A company just starting its business made the following four inventory purchases in June: Date Jun 1 Jun 10 Jun 15 Jun 28 Number of Units Total Cost 150 $480 200 660 200 680 150 525 On June 25, the company made its first sale when a local customer purchased 500 units for $3,500. The company uses a perpetual inventory system. Using the FIFO cost formula, the cost of the ending inventory on June 30 is $695. $1,650. O $645....
Assume Nile.com began May with 16 units of inventory that cost a total of $272. During May, Nile.com purchased and sold goods as follows: May 8 Purchase 48 units @ $18 14 Sale 40 units @ $36 22 Purchase 32 units @ $20 27 Sale 48 units @ $36 Under the FIFO inventory costing method and the perpetual inventory system, how much is Nile.com's cost of goods sold for the sale on May 14? O A. $720 O B. $704...
Assume Shopping.com began March with 16 units of inventory that cost a total of $288. During March, Shopping.com purchased and sold goods as follows: Mar. 8 14 22 27 Purchase 48 units @ $19 Sale 40 units @ $38 Purchase 32 units @ $21 Sale 48 units @ $38 Under the FIFO inventory costing method and the perpetual inventory system, how much is Shopping.com's cost of goods sold for the sale on March 14? O A. $760 OB. $744 O...
Assume Store.com began October with 8 units of inventory that cost a total of $128. During October, Store.com purchased and sold goods as follows: Oct. B Purchase 24 units @ $17 14 Sale 20 units @ $34 22 Purchase 16 units @ $19 27 Salo 24 units $34 Under the FIFO inventory costing method and the perpetual inventory system, how much is Store.com's cost of goods sold for the sale on October 14? O A. $680 $340 OOO $536
Assume ShoeFanatic.com began October with 14 units of inventory that cost a total of $210. During October, ShoeFanatic.com purchased and sold goods as follows: Oct. 8 Purchase 42 units @ $16 14 Sale 35 units @ $32 22 Purchase 28 units @ $18 27 Sale 42 units @ $32 Suppose ShoeFanatic.com used the weighted average inventory costing method and the perpetual inventory system. Compute the weighted average unit cost of the company's inventory on hand at October 8. Round weighted...
5 Steel Mill began August with 55 units of iron inventory that cost $35 each. During August, the company completed the following inventory transactions: Click the icon to view the transactions.) Read the requirements ple-29 Requirement 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have...
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