Strods Company reported the following purchases and sales of its only product. Strods uses a periodic...

Question

Question

Strods Company reported the following purchases and sales of its only product. Strods uses a periodic Inventory system. Deter

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

cost of goods sold (LIFO)
particular	unit	unit cost	total
beginning inventory	260	11	2,860
purchase:
May-05	275	13	3,575
May-15	155	14	2,170
goods available for sale	690		8,605
cost of goods sold (LIFO)
	155	14	2,170
	40	13	520
ending inventory	495		5,915

Add a comment

Answer 2

Similar Homework Help Questions

Strods Company reported the following purchases and sales of Its only product. Strods uses a periodic inventory sys...

Strods Company reported the following purchases and sales of Its only product. Strods uses a periodic inventory system. Determine the cost assigned to cost of goods sold using FIFO. Units Acquired at Cost 160 units $11 Units Sold at Retail Activities Date Beginning Inventory May 1 225 units e ş13 Purchase 145 units e $21 10 Sales 105 units e $14 15 Purchase 95 units e $22 Sales 24 Multiple Choice
Strods Company reported the following purchases and sales of its only product. Strods uses a periodic...

Strods Company reported the following purchases and sales of its only product. Strods uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 190 units @ $14 5 Purchase 240 units @ $16 10 Sales 160 units @ $24 15 Purchase 120 units @ $17 24 Sales 110 units @ $25
Salmone Company reported the following purchases and sales of its only product Salmone uses a periodic...

Salmone Company reported the following purchases and sales of its only product Salmone uses a periodic inventory system Determine the cost assigned to cost of goods sold using FIFO. Units sold at Retail Units Acquired at Cost 160 units @ $11 225 units @ $13 Date May 1 5 10 15 24 Activities Beginning Inventory Purchase Sales Purchase Sales 145 units $21 105 units @ $14 95 units @ $22 Multiple Choice $2.800 o $3,240 o О $3,355 o $3,215...

Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic...

Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 220 units @ $17 5 Purchase 255 units @ $19 10 Sales 175 units @ $27 15 Purchase 135 units @ $20 24 Sales 125 units @ $28 Multiple Choice $7,660 $3,780 $6,800 $4,185 $5,450
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual...

Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 180 units @ $13 5 Purchase 235 units @ $15 10 Sales 155 units @ $23 15 Purchase 115 units @ $16 24 Sales 105 units @ $24 Multiple Choice $7,705 $3,540 $3,700 $4,060 $4,165
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual...

Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 170 units @ $12 5 Purchase 230 units @ $14 10 Sales 150 units @ $22 15 Purchase 110 units @ $15 24 Sales 100 units @ $23 Multiple Choice $6,910 $3,160 $3,640 $3,750 $3,310

5-Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic...

5-Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail Date Activities May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales Units Acquired at Cost 150 units @ $10.00 220 units @ $12.00 140 units @ $20.00 100 units @ $13.00 90 units @ $21.00
Strods Company reported the following purchases and sales for its only product. Strods uses a perpetual...

Strods Company reported the following purchases and sales for its only product. Strods uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 150 units @ $10.00 5 Purchase 220 units @ $12.00 10 Sales 140 units @ $20.00 15 Purchase 100 units @ $13.00 24 Sales 90 units @ $21.00 $2,860 $2,460 $2,590 $2,850 $2,980 140@12=1680 90@13=1170 =2850
Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory syste...

Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to cost of goods sold using FIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 340 units @ $19 5 Purchase 315 units @ $21 10 Sales 235 units @ $29 15 Purchase 195 units @ $22 24 Sales 185 units @ $30 Multiple Choice $8,140 $8,900 $9,225 $9,005 $8,360 A company...

Salmone Company reported the following purchases and sales of its only product Salmone uses a perpetual...

Salmone Company reported the following purchases and sales of its only product Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO Units sold at Retail Date Activities May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales Units Acquired at cost 180 units $13 235 units $15 115 units $16 155 units @ $23 105 units @ $24 Multiple Choice O $2,700 OSIS o $1.540 O S4060 0 $4,005

Strods Company reported the following purchases and sales of its only product. Strods uses a periodic...

Homework Answers