Homework Answers
Total units available for sale = 20+70+10 = 100 Units
Sale unit = 100-30 = 70 Units
Cost of goods sold under FIFO = (20*19+50*20) = 1380
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14. Pasquale has the following inventory information. July 1 Beginning Inventory 20 units at $19 $...
- 15. Pasquale has the following inventory information. July 1 Beginning Inventory 20 units at $19...
- 15. Pasquale has the following inventory information. July 1 Beginning Inventory 20 units at $19 $ 380 7 Purchases 70 units at $20 1,400 22 Purchases 10 units at $24 240 $2,020 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is a. $1,390. b. $1,414. c. $1,470. d. $1,440.
Sheffield has the following inventory information. July 1 Beginning Inventory 20 units at $16 $320 7...
Sheffield has the following inventory information. July 1 Beginning Inventory 20 units at $16 $320 7 Purchases 70 units at $21 1470 22 Purchases 20 units at $23 460 $2250 A physical count of merchandise inventory on July 31 reveals that there are 35 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is
Ayayai Corp. has the following inventory data: July 1 Beginning Inventory 38 units at $19 $722 7 Purchases 132...
Ayayai Corp. has the following inventory data: July 1 Beginning Inventory 38 units at $19 $722 7 Purchases 132 units at $20 2640 22 Purchases 19 units at $21 399 $3761 A physical count of merchandise inventory on July 30 reveals that there are 47 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is $2859. $2708. $2802. $2774.
Ayayai Corp. has the following inventory data: July 1 Beginning inventory 28 units at $18 $504...
Ayayai Corp. has the following inventory data: July 1 Beginning inventory 28 units at $18 $504 7 Purchases 99 units at $19 1881 22 Purchases 14 units at $21 294 $2679 A physical count of merchandise inventory on July 30 reveals that there are 45 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is
QUESTION 5 Olympus Climbers Company has the following inventory data: July 1 Beginning inventory 30 units at $19 $ 570...
QUESTION 5 Olympus Climbers Company has the following inventory data: July 1 Beginning inventory 30 units at $19 $ 570 Purchases 105 units at $20 2,100 Purchases 15 units at $22 _330 $3,000 A physical count of merchandise inventory on July 30 reveals that there are 48 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is O $930. $990. $2,010. $2,070.
Question 6 Blue Spruce Corp. has the following inventory data: July 1 Beginning inventory 126 units...
Question 6 Blue Spruce Corp. has the following inventory data: July 1 Beginning inventory 126 units at $19 441 units at $20 03 units at 22 2394 820 22 Purchases A physical count of merchandise inventory on July 10 reveals that there are 210 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July $4326. $8274 $12580 $4074
Question 10 (10 points) July 1 Beginning Inventory.. 20 units $20 7 8 S July 7.Purchases...
Question 10 (10 points) July 1 Beginning Inventory.. 20 units $20 7 8 S July 7.Purchases 70 units@$21-$1.470 10 July 22....Purchases 10 units @ $22-$220 Total cost of goods available $2.090 A physical count of merchandise inventory on July 30 reveals that there are 35 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is $1,390. $1,380. $1425 $1,345 6 ar 10 ouestions sved Submit Quiz e ho
Swifty Corporation has the following inventory data: July 1 Beginning inventory 30 units at $15 $450...
Swifty Corporation has the following inventory data: July 1 Beginning inventory 30 units at $15 $450 7 Purchases 106 units at $16 1696 22 Purchases 15 units at $17 255 $2401 A physical count of merchandise inventory on July 30 reveals that there are 38 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is $1755. $1778. $1823. $1702.
QUESTION 7 Apple-A-Day Company has the following inventory data: 40 units at $20 $ 800 July...
QUESTION 7 Apple-A-Day Company has the following inventory data: 40 units at $20 $ 800 July 1 Beginning inventory 140 units at $21 7 Purchases 2,940 20 units at $22 22 Purchases 440 $4,180 A physical count of merchandise inventory on July 30 reveals that there are 50 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is $3,170. $3,080 $3,110 $3,010
A company just starting business made the following four inventory purchases in June cases in June:...
A company just starting business made the following four inventory purchases in June cases in June: $ 390 June June June June 1 10 15 28 150 units 200 units 200 units 150 units 598 630 510 $2.128 that there are 200 units on hand. The inventory A physical count of merchandise inventory method which results in the highest gross profit for June is the FIFO method b. the LIFO method. c. the weighted average unit cost method. d. not...
- 15. Pasquale has the following inventory information. July 1 Beginning Inventory 20 units at $19 $ 380 7 Purchases 70 units at $20 1,400 22 Purchases 10 units at $24 240 $2,020 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is a. $1,390. b. $1,414. c. $1,470. d. $1,440.
QUESTION 5 Olympus Climbers Company has the following inventory data: July 1 Beginning inventory 30 units at $19 $ 570 Purchases 105 units at $20 2,100 Purchases 15 units at $22 _330 $3,000 A physical count of merchandise inventory on July 30 reveals that there are 48 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is O $930. $990. $2,010. $2,070.
Question 6 Blue Spruce Corp. has the following inventory data: July 1 Beginning inventory 126 units at $19 441 units at $20 03 units at 22 2394 820 22 Purchases A physical count of merchandise inventory on July 10 reveals that there are 210 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July $4326. $8274 $12580 $4074
Question 10 (10 points) July 1 Beginning Inventory.. 20 units $20 7 8 S July 7.Purchases 70 units@$21-$1.470 10 July 22....Purchases 10 units @ $22-$220 Total cost of goods available $2.090 A physical count of merchandise inventory on July 30 reveals that there are 35 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is $1,390. $1,380. $1425 $1,345 6 ar 10 ouestions sved Submit Quiz e ho
QUESTION 7 Apple-A-Day Company has the following inventory data: 40 units at $20 $ 800 July 1 Beginning inventory 140 units at $21 7 Purchases 2,940 20 units at $22 22 Purchases 440 $4,180 A physical count of merchandise inventory on July 30 reveals that there are 50 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is $3,170. $3,080 $3,110 $3,010
A company just starting business made the following four inventory purchases in June cases in June: $ 390 June June June June 1 10 15 28 150 units 200 units 200 units 150 units 598 630 510 $2.128 that there are 200 units on hand. The inventory A physical count of merchandise inventory method which results in the highest gross profit for June is the FIFO method b. the LIFO method. c. the weighted average unit cost method. d. not...
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