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Sons Parts CORTELMATKU ODU S question Inventory Costing Methods-Periodic Method Chen Sales Corporation uses the periodic...
Inventory Costing Methods-Periodic Method The Gleem Sales Corporation uses the periodic inventory system. On January 1.2015....
Inventory Costing Methods-Periodic Method The Gleem Sales Corporation uses the periodic inventory system. On January 1.2015. Gleem had 2,600 units of product B with a unit cost of s40 per unit. A summary of purchases and sales during 2015 follows: Unit Units Units Cost Purchased Sold Jan.3 Mar.8 $44 3,000 June 13 Sept.19 46 Nov.23 Dec.28 1,600 2,000 800 48 1,200 1,800 Required a. Assume that Gleem uses the first-in, first-out method Compute the cost of goods sold for 2015...
__________ ____________ __________ ______________ Inventory Costing Methods - Periodic Method The Kali Company uses...
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Inventory Costing Methods - Periodic Method The Kali Company uses the periodic inventory system for its merchandise inventory. The June 1 inventory for one of the items in the merchandise inventory consisted of 60 units with a unit cost of $45. Transactions for this item during June were as follows: June 5 Purchased 40 units @ $50 per unit 13 Sold 50 units @ $95 per unit 25 Purchased 40 units @ $53 per unit 29...
Applying and Analyzing Inventory Costing Methods At the beginning of the current period, Chen carried 1,000...
Applying and Analyzing Inventory Costing Methods At the beginning of the current period, Chen carried 1,000 units of its product with a unit cost of $10. A summary of purchases during the current period follows. During the period. Chen sold 2,800 units. Units Unit Cost Cost Beginning Inventory 1,000 $ 10 $10,000 Purchase # 1 1 ,800 11 19,800 Purchase # 2 0 0 13 10,400 Purchase 3 1,200 15 18,000 la) Assume that Chen uses the first-in, first-out method....
pplying and Analyzing Inventory Costing Methods At the beginning of the current period, Chen carried 1,000...
pplying and Analyzing Inventory Costing Methods At the beginning of the current period, Chen carried 1,000 units of its product with a unit cost of $15. A summary of purchases during the current period follows. During the period, Chen sold 2,800 units. Units Unit Cost Cost Beginning Inventory 1,000 $ 15 $ 15,000 Purchase #1 1,800 14 25,200 Purchase #2 800 16 12,800 Purchase #3 1,200 19 22,800 (a) Assume that Chen uses the first-in, first-out method. Compute both cost...
Inventory Costing Methods-Periodic Method The following data are for the Portet Corporation, which sells just one...
Inventory Costing Methods-Periodic Method The following data are for the Portet Corporation, which sells just one product: Units Unit Cost Beginning Inventory, January 1 1.200 $13 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 17 Sales: March 1 1,400 July 1 1,400 October 291,000 Calculate the value of ending inventory and cost of goods sold at year-end using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted average cost method. Hint: For weighted-average cost,...
Inventory Costing Methods-Periodic Method Spangler Company is a retailer that uses the periodic inventory system. March...
Inventory Costing Methods-Periodic Method Spangler Company is a retailer that uses the periodic inventory system. March 1 Beginning inventory 100 units of Product Me $2.790 total cost 6 Purchased 200 units of Product Me $4,800 total cost 10 Purchased 150 units of Product M@ $4.200 total cost 15 Sold 180 units of Product M Calculate the March cost of goods sold and the ending inventory at March 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average...
Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are...
Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory: May 1 Beginning inventory 450 units $34 per unit 12 Purchased 400 units 539 per unit 16 Sold 480 units 24 Purchased 460 units @ $40 per unit Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average cost methods. Do not...
Inventory Costing Methods . Periodic Method Fortune Stores uses the periodic inventory system for its merchandise...
Inventory Costing Methods . Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April 1 inventory for one of the items in the merchandise inventory consisted of 120 units with a unit cost of $335. Transactions for this item during April were as follows: April 9 Purchased 40 units $355 per unit 14 Sold 80 units @ $560 per unit 23 Purchased 20 units @ $360 per unit 29 Sold 40 units Required a. Calculate...
Applying and Analyzing Inventory Costing Methods At the beginning of the current period, Chen carried 1,000...
Applying and Analyzing Inventory Costing Methods At the beginning of the current period, Chen carried 1,000 units of its product with a unit cost of $15. A summary of purchases during the current period follows. During the period, Chen sold 2,800 units. Units Unit Cost Cost Purchase #1 Purchase #2 Purchase #3 Beginning Inventory 1,000 15 $15,000 1,800 800 1,200 14 25,200 16 12,800 19 22,800 (a) Assume that Chen uses the first-in, first-out method. Compute both cost of good...
LO2E6-2A. Inventory Costing Methods--Periodic Method The Lippert Company uses the periodic inven- tory system. The following...
LO2E6-2A. Inventory Costing Methods--Periodic Method The Lippert Company uses the periodic inven- tory system. The following July data are for an item in Lippert's inventory: July 1 Beginning inventory, 30 units @ $9 per unit. 10 Purchased 50 units @ $10 per unit. 15 Sold 60 units. 26 Purchased 25 units Sil per unit. Calculate the cost of goods sold for July and ending inventory at July 31 using (a) first-in, first-our, (b) last-in, first-out, and (c) the weighted average...
Inventory Costing Methods-Periodic Method The Gleem Sales Corporation uses the periodic inventory system. On January 1.2015. Gleem had 2,600 units of product B with a unit cost of s40 per unit. A summary of purchases and sales during 2015 follows: Unit Units Units Cost Purchased Sold Jan.3 Mar.8 $44 3,000 June 13 Sept.19 46 Nov.23 Dec.28 1,600 2,000 800 48 1,200 1,800 Required a. Assume that Gleem uses the first-in, first-out method Compute the cost of goods sold for 2015...
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Inventory Costing Methods - Periodic Method The Kali Company uses the periodic inventory system for its merchandise inventory. The June 1 inventory for one of the items in the merchandise inventory consisted of 60 units with a unit cost of $45. Transactions for this item during June were as follows: June 5 Purchased 40 units @ $50 per unit 13 Sold 50 units @ $95 per unit 25 Purchased 40 units @ $53 per unit 29...
Applying and Analyzing Inventory Costing Methods At the beginning of the current period, Chen carried 1,000 units of its product with a unit cost of $10. A summary of purchases during the current period follows. During the period. Chen sold 2,800 units. Units Unit Cost Cost Beginning Inventory 1,000 $ 10 $10,000 Purchase # 1 1 ,800 11 19,800 Purchase # 2 0 0 13 10,400 Purchase 3 1,200 15 18,000 la) Assume that Chen uses the first-in, first-out method....
Inventory Costing Methods-Periodic Method The following data are for the Portet Corporation, which sells just one product: Units Unit Cost Beginning Inventory, January 1 1.200 $13 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 17 Sales: March 1 1,400 July 1 1,400 October 291,000 Calculate the value of ending inventory and cost of goods sold at year-end using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted average cost method. Hint: For weighted-average cost,...
Inventory Costing Methods-Periodic Method Spangler Company is a retailer that uses the periodic inventory system. March 1 Beginning inventory 100 units of Product Me $2.790 total cost 6 Purchased 200 units of Product Me $4,800 total cost 10 Purchased 150 units of Product M@ $4.200 total cost 15 Sold 180 units of Product M Calculate the March cost of goods sold and the ending inventory at March 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average...
Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory: May 1 Beginning inventory 450 units $34 per unit 12 Purchased 400 units 539 per unit 16 Sold 480 units 24 Purchased 460 units @ $40 per unit Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average cost methods. Do not...
Inventory Costing Methods . Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April 1 inventory for one of the items in the merchandise inventory consisted of 120 units with a unit cost of $335. Transactions for this item during April were as follows: April 9 Purchased 40 units $355 per unit 14 Sold 80 units @ $560 per unit 23 Purchased 20 units @ $360 per unit 29 Sold 40 units Required a. Calculate...
Applying and Analyzing Inventory Costing Methods At the beginning of the current period, Chen carried 1,000 units of its product with a unit cost of $15. A summary of purchases during the current period follows. During the period, Chen sold 2,800 units. Units Unit Cost Cost Purchase #1 Purchase #2 Purchase #3 Beginning Inventory 1,000 15 $15,000 1,800 800 1,200 14 25,200 16 12,800 19 22,800 (a) Assume that Chen uses the first-in, first-out method. Compute both cost of good...
LO2E6-2A. Inventory Costing Methods--Periodic Method The Lippert Company uses the periodic inven- tory system. The following July data are for an item in Lippert's inventory: July 1 Beginning inventory, 30 units @ $9 per unit. 10 Purchased 50 units @ $10 per unit. 15 Sold 60 units. 26 Purchased 25 units Sil per unit. Calculate the cost of goods sold for July and ending inventory at July 31 using (a) first-in, first-our, (b) last-in, first-out, and (c) the weighted average...
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