Goodman Company's inventory records show the following data:
Units Unit Cost
Inventory, January 1 5,000 $9.00
Purchases: June 18 4,500 8.20
November 8 3,000 7.00
A physical inventory on December 31 shows 3,000 units on hand. Under the FIFO method, the December 31 inventory is
Correct Answer
a. $21,000.
b. $24,600.
c. $24,696.
You Answered
d. $27,000.
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7. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000...
7. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.25 A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. Under the FIFO method, the December 31 inventory is valued at a. $21,750. b. $24,450. c. $25,800. d. $27,600.
12. Henri Company's inventory records show the following dala Units Unit Cost Inventory, January 1 10,000...
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10. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000 $9.20 Pu...
10. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.25 A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. The weighted average cost per unit is
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Sage Company was formed on December 1, 2016. The following information is available from Sage's inventory...
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Exercise 8-12 (Part Level Submission) Culver Company was formed on December 1, 2016. The following information...
Exercise 8-12 (Part Level Submission)
Culver Company was formed on December 1, 2016. The following
information is available from Culver’s inventory records for
Product BAP.
Units
Unit Cost
January 1, 2017 (beginning inventory)
684
$ 6.00
Purchases:
January 5, 2017
1,368
7.00
January 25, 2017
1,482
8.00
February 16, 2017
912
9.00
March 26, 2017
684
10.00
A physical inventory on March 31, 2017, shows 1,824 units on hand.
(a)
Prepare schedule to compute the ending inventory at March 31,...
net income? E8.10 (L03) (FIFO and Average-Cost Inventory) Esplanade SA was formed on December 1, 2018 The following...
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E8.10 (LO3) (FIFO and Average-Cost Inventory) Esplanade SA was formed on December 1, 2018. The following...
E8.10 (LO3) (FIFO and Average-Cost Inventory) Esplanade SA was formed on December 1, 2018. The following information is available from Esplanade's inventory records for Product BAP. Units Unit Cost January 1, 2019 (beginning inventory) 600 R$ 8.00 Purchases: January 5, 2019 1,100 9.00 January 25, 2019 1,300 10.00 February 16, 2019 800 11.00 March 26, 2019 600 12.00 A physical inventory on March 31, 2015, shows 1,500 units on hand. Instructions Assuming Esplanade uses a periodic system, prepare schedules to...
Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000...
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7. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.25 A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. Under the FIFO method, the December 31 inventory is valued at a. $21,750. b. $24,450. c. $25,800. d. $27,600.
12. Henri Company's inventory records show the following dala Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.25 A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. What is the difference in taxes if LIFO rather than FIFO is used?
10. Henri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10,000 $9.20 Purchases: June 18 9,000 8.00 November 8 6,000 7.25 A physical inventory on December 31 shows 3,000 units on hand. Henri sells the units for $12 each. The company has an effective tax rate of 20%. Henri uses the periodic inventory method. The weighted average cost per unit is
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Sage Company was formed on December 1, 2016. The following information is available from Sage's inventory records for Product BAP. Units Unit Cost January 1, 2017 (beginning inventory) Purchases: 684 $ 6.00 January 5, 2017 January 25, 2017 February 16, 2017 March 26, 2017 1,368 1,482 912 684 7.00 8.00 9.00 10.00 A physical inventory on March 31, 2017, shows 1,824 units on hand ▼ (a) Prepare schedule to compute the ending inventory at March 31, 2017, under FIFO inventory...
Exercise 8-12 (Part Level Submission)
Culver Company was formed on December 1, 2016. The following
information is available from Culver’s inventory records for
Product BAP.
Units
Unit Cost
January 1, 2017 (beginning inventory)
684
$ 6.00
Purchases:
January 5, 2017
1,368
7.00
January 25, 2017
1,482
8.00
February 16, 2017
912
9.00
March 26, 2017
684
10.00
A physical inventory on March 31, 2017, shows 1,824 units on hand.
(a)
Prepare schedule to compute the ending inventory at March 31,...
net income? E8.10 (L03) (FIFO and Average-Cost Inventory) Esplanade SA was formed on December 1, 2018 The following information is available from Esplanade's inventory records for Product BAP. Units 600 Unit Cost R$ 8.00 January 1, 2019 (beginning inventory) Purchases: January 5, 2019 January 25, 2019 February 16, 2019 March 26, 2019 1,100 1,300 800 600 9.00 10.00 11.00 12.00 my 600 A physical inventory on March 31, 2019, shows 1,500 units on hand. Instructions Assuming Esplanade uses a periodic...
E8.10 (LO3) (FIFO and Average-Cost Inventory) Esplanade SA was formed on December 1, 2018. The following information is available from Esplanade's inventory records for Product BAP. Units Unit Cost January 1, 2019 (beginning inventory) 600 R$ 8.00 Purchases: January 5, 2019 1,100 9.00 January 25, 2019 1,300 10.00 February 16, 2019 800 11.00 March 26, 2019 600 12.00 A physical inventory on March 31, 2015, shows 1,500 units on hand. Instructions Assuming Esplanade uses a periodic system, prepare schedules to...
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