Blue Spruce Corp. is a retailer operating in Calgary, Alberta. Blue Spruce uses the perpetual inventory...
Blue Spruce Corp. is a retailer operating in Calgary, Alberta. Blue Spruce uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Blue Spruce for the month of January 2022. Date Description Quantity Unit Cost or Selling Price Dec. 31 Ending inventory 159 $18 Jan. 2 Purchase 102 23 Jan. 6 Sale 174 42 Jan. 9 Purchase 73 24 Jan. 10 Sale 55 48 Jan. 23 Purchase 95 25 Jan. 30 Sale 125 52 (a1). Calculate the average cost for each unit. (Round answers to 3 decimal places, e.g. 5.125.)
Jan. 1 $enter a dollar amount 18
Jan. 2 $enter a dollar amount 19.954
Jan. 6 $enter a dollar amount 19.954
Jan. 9 $
Jan. 10 $
Jan. 23 $
Jan. 30 $
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Blue Spruce Corp. is a retailer operating in Calgary, Alberta.
Blue Spruce uses the perpetual inventory...
Blue Spruce Corp. is a retailer operating in Calgary, Alberta. Blue Spruce uses the perpetual inventory...
Blue Spruce Corp. is a retailer operating in Calgary, Alberta. Blue Spruce uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Blue Spruce for the month of January 2022. Date Description Quantity Unit Cost or Selling Price Dec. 31 Ending inventory 159 $18 Jan. 2 Purchase 102 23 Jan. 6 Sale 174 42 Jan. 9 Purchase 73 24 Jan. 10 Sale 55 48...
Oriole Company is a retailer operating in Calgary, Alberta. Oriole uses the perpetual inventory method. Assume...
Oriole Company is a retailer operating in Calgary, Alberta.
Oriole uses the perpetual inventory method. Assume that there are
no credit transactions; all amounts are settled in cash. You are
provided with the following information for Oriole for the month of
January 2022.
Dec.31 Ending Inventory - 175 units - $20 each
Jan 2. Purchase - 105 units - $28 each
Jan 6. Sale 193 units - $44 each
Jan 9. Purchase 58 units - $25 each
Jan 10. Sale...
Monty Inc. is a retailer operating in Centralia. Monty uses the perpetual inventory method. All sales...
Monty Inc. is a retailer operating in Centralia. Monty uses the
perpetual inventory method. All sales returns from customers result
in the goods being returned to inventory. (Assume that the
inventory is not damaged.) Assume that there are no credit
transactions; all amounts are settled in cash. You are provided
with the following information for Monty Inc. for the month of
January 2017.
Date
Description
Quantity
Unit Cost or
Selling Price
Dec. 31
Ending inventory
168
$14
Jan. 2
Purchase...
Calculate average cost for each unit (Round answers to 3 decimal places, e.g 5.125) Jan 1 $ Jan 2 $ Jan 6 $ Jan 9 $ Jan...
Calculate average cost for each
unit (Round answers to 3 decimal places, e.g 5.125)
Jan 1 $
Jan 2 $
Jan 6 $
Jan 9 $
Jan 10 $
Jan 23 $
Jan 30 $
For each of the following cost flow assumptions, calculate (i)
cost of goods sold, (ii) ending inventory, and (iii) gross profit.
(Round answers to 0 decimal places, e.g.
125.)
(1)
LIFO.
(2)
FIFO.
(3)
Moving-average.
Problem 6-08A a1-a2 Wildhorse Co. is a retailer operating in...
Calculate the average cost for each unit (round 3 decimal places): Jan 1 Jan 2 Jan...
Calculate the average cost for each unit (round 3 decimal
places):
Jan 1
Jan 2
Jan 6
Jan 9
Jan 10
Jan 23
Jan 30
Problem 6-08A al-a 2 (Part Level Submission) Oriole Company is a retailer operating in Calgary, Alberta. Oriole uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Oriole for the month of January 2022. Quantity 175 Description Ending inventory...
Question 1 Ivanhoe Company is a furniture retailer and uses the perpetual inventory system. On January...
Question 1 Ivanhoe Company is a furniture retailer and uses the perpetual inventory system. On January 14, 2022, Ivanhoe purchased merchandise inventory at a cost of $54,000. Credit terms were 2/10, n/30. The inventory was sold on account for $73,000 on January 21, 2022. Credit terms were 1/10, n/30. The accounts payable was settled on January 23, 2022, and the accounts receivables were settled on January 30, 2022. Prepare journal entries to record each of these transactions. (Credit account titles...
Chewy Inc is a retailer operating in the town. Chewy uses the perpetual inventory method. All...
Chewy Inc is a retailer operating in the town. Chewy uses the perpetual inventory method. All ales return from the customer not damage. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Chewy Inc. for the month of January 2018. Date Description January 1 Beginning inventory January 5 Purchase January 8 Sale January 10 Sales return January 15 Purchase January 16 Purchase return January 20 Sale January 25...
You have the following information for Blue Spruce Corp. for the month ended October 31, 2022. Blue Spruce uses a perio...
You have the following information for Blue Spruce Corp. for the month ended October 31, 2022. Blue Spruce uses a periodic method for inventory Units Date Description Unit Cost or Selling Price Oct. 1 Beginning inventory 50 $22 Oct. 9 Purchase 125 24 Oct. 11 Sale 90 45 Oct. 17 Purchase 90 25 Oct. 22 Sale 50 50 Oct. 25 Purchase 60 27 Oct. 29 100 Sale 50 Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.)...
Crane Company is a furniture retailer and uses the perpetual inventory system. On January 14, 2022, Crane purchased merc...
Crane Company is a furniture retailer and uses the perpetual
inventory system. On January 14, 2022, Crane purchased merchandise
inventory at a cost of $44,000. Credit terms were 2/10, n/30. The
inventory was sold on account for $74,000 on January 21, 2022.
Credit terms were 1/10, n/30. The accounts payable was settled on
January 23, 2022, and the accounts receivables were settled on
January 30, 2022.
Prepare journal entries to record each of these transactions.
(Credit account titles are automatically...
Chopstick Inc is a retailer operating in the town. Chopstick uses the perpetual inventory method. All...
Chopstick Inc is a retailer operating in the town. Chopstick uses the perpetual inventory method. All ales return from the customer result in the goods being returned to inventory, the inventory is not damage. Assume that there are no credit transactions, all amounts are settled in cash. You are provided with the following information for Chopstick Inc. for the month of January 2019. Date Description Quantity Unit cost or selling price $15 January 1 January 5 January 8 January 10...
Oriole Company is a retailer operating in Calgary, Alberta.
Oriole uses the perpetual inventory method. Assume that there are
no credit transactions; all amounts are settled in cash. You are
provided with the following information for Oriole for the month of
January 2022.
Dec.31 Ending Inventory - 175 units - $20 each
Jan 2. Purchase - 105 units - $28 each
Jan 6. Sale 193 units - $44 each
Jan 9. Purchase 58 units - $25 each
Jan 10. Sale...
Monty Inc. is a retailer operating in Centralia. Monty uses the
perpetual inventory method. All sales returns from customers result
in the goods being returned to inventory. (Assume that the
inventory is not damaged.) Assume that there are no credit
transactions; all amounts are settled in cash. You are provided
with the following information for Monty Inc. for the month of
January 2017.
Date
Description
Quantity
Unit Cost or
Selling Price
Dec. 31
Ending inventory
168
$14
Jan. 2
Purchase...
Calculate average cost for each
unit (Round answers to 3 decimal places, e.g 5.125)
Jan 1 $
Jan 2 $
Jan 6 $
Jan 9 $
Jan 10 $
Jan 23 $
Jan 30 $
For each of the following cost flow assumptions, calculate (i)
cost of goods sold, (ii) ending inventory, and (iii) gross profit.
(Round answers to 0 decimal places, e.g.
125.)
(1)
LIFO.
(2)
FIFO.
(3)
Moving-average.
Problem 6-08A a1-a2 Wildhorse Co. is a retailer operating in...
Calculate the average cost for each unit (round 3 decimal
places):
Jan 1
Jan 2
Jan 6
Jan 9
Jan 10
Jan 23
Jan 30
Problem 6-08A al-a 2 (Part Level Submission) Oriole Company is a retailer operating in Calgary, Alberta. Oriole uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Oriole for the month of January 2022. Quantity 175 Description Ending inventory...
Question 1 Ivanhoe Company is a furniture retailer and uses the perpetual inventory system. On January 14, 2022, Ivanhoe purchased merchandise inventory at a cost of $54,000. Credit terms were 2/10, n/30. The inventory was sold on account for $73,000 on January 21, 2022. Credit terms were 1/10, n/30. The accounts payable was settled on January 23, 2022, and the accounts receivables were settled on January 30, 2022. Prepare journal entries to record each of these transactions. (Credit account titles...
Chewy Inc is a retailer operating in the town. Chewy uses the perpetual inventory method. All ales return from the customer not damage. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Chewy Inc. for the month of January 2018. Date Description January 1 Beginning inventory January 5 Purchase January 8 Sale January 10 Sales return January 15 Purchase January 16 Purchase return January 20 Sale January 25...
You have the following information for Blue Spruce Corp. for the month ended October 31, 2022. Blue Spruce uses a periodic method for inventory Units Date Description Unit Cost or Selling Price Oct. 1 Beginning inventory 50 $22 Oct. 9 Purchase 125 24 Oct. 11 Sale 90 45 Oct. 17 Purchase 90 25 Oct. 22 Sale 50 50 Oct. 25 Purchase 60 27 Oct. 29 100 Sale 50 Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.)...
Crane Company is a furniture retailer and uses the perpetual
inventory system. On January 14, 2022, Crane purchased merchandise
inventory at a cost of $44,000. Credit terms were 2/10, n/30. The
inventory was sold on account for $74,000 on January 21, 2022.
Credit terms were 1/10, n/30. The accounts payable was settled on
January 23, 2022, and the accounts receivables were settled on
January 30, 2022.
Prepare journal entries to record each of these transactions.
(Credit account titles are automatically...
Chopstick Inc is a retailer operating in the town. Chopstick uses the perpetual inventory method. All ales return from the customer result in the goods being returned to inventory, the inventory is not damage. Assume that there are no credit transactions, all amounts are settled in cash. You are provided with the following information for Chopstick Inc. for the month of January 2019. Date Description Quantity Unit cost or selling price $15 January 1 January 5 January 8 January 10...
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