Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: May...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: May 1 Inventory 58 units @ $16 9 Sale 40 units 13 Purchase 60 units @ $17 28 Sale 22 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on May 28 and (b) the inventory on May 31. a. Cost of merchandise sold on May 28 $ b. Inventory on May 31 $
Homework Answers
| Quantity | Price | Cost | |
| Beginning inventory | 58 | 16 | 928 |
| Purchase May 13 | 60 | 17 | 1020 |
| Total | 118 | 1948 | |
Cost of merchandise sold on may 28 = (18*16+4*17) = $356
Inventory on may $31 = (1948-928-68) = $952
Add Answer to:
Perpetual Inventory Using FIFO Beginning inventory, purchases,
and sales for Item ER27 are as follows: May...
Question 1 Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows:...
Question 1
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: May 1 Inventory 80 units @ $20 Sale 9 67 units 13 78 units @ $22 Purchase 28 Sale 19 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on May 28 and (b) the inventory on May 31. a. Cost of merchandise sold on May 28 b. Inventory on May 31...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: January...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: January 1 Inventory 76 units @ $16 9 Sale 49 units 13 Purchase 70 units @ $17 28 Sale 33 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on January 28 and (b) the inventory on January 31. a. Cost of merchandise sold on January 28 $ b. Inventory on January 31 $
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: August...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: August 1 Inventory 54 units @ $20 9 Sale 37 units 13 Purchase 50 units @ $23 28 Sale 26 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on August 28 and (b) the inventory on August 31.
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item B901 are as follows: May...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item B901 are as follows: May 1 Inventory 39 units @ $19 9 Sale 30 units 13 Purchase 35 units @ $20 28 Sale 17 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on May 28 and (b) the inventory on May 31. a. Cost of merchandise sold on May 28 $ b. Inventory on May 31
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item HM46 are as follows May 1 Invento...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item HM46 are as follows May 1 Inventory 66 units $25 9 Sale 47 units 13 Purchase 48 units $30 28 Sale 27 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on May 28 and (b) the Inventory on May 31. a. Cost of merchandise sold on May 28 b. Inventory on May 31
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: July...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: July 1 Inventory 55 units @ $23 9 Sale 43 units 13 Purchase 49 units @ $26 28 Sale 17 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on July 28 and (b) the inventory on July 31. a. Cost of merchandise sold on July 28 $ b. Inventory on July 31 $
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item B901 are as follows: 42...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item B901 are as follows: 42 units @ $15 33 units January 1 9 13 28 Inventory Sale Purchase Sale 37 units @ $16 15 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on January 28 and (b) the inventory on January 31. a. Cost of merchandise sold on January $ 28 b. Inventory on January 31
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: October...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: October 1 Inventory 86 units @ $35 5 Sale 69 units 11 Purchase 95 units @ $39 21 Sale 80 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on October 21 and (b) the inventory on October 31. a. Cost of merchandise sold on October 21 $ b. Inventory on October 31 $
perpetual inventory using FIFO Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item 19...
perpetual inventory using FIFO
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item 1901 are as follows: August 1 Inventory 37 units $24 31 units 13 Purchase 41 units $25 Sale 28 Sale 14 units Assuming a perpetual Inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on August 28 and (b) the inventory on August 31. a. Cost of merchandise sold on August 28 b. Inventory on August 31
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: August...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: August 1 Inventory 56 units @ $21 9 Sale 41 units 13 Purchase 43 units @ $24 28 Sale 23 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on August 28 and (b) the inventory on August 31. a. Cost of merchandise sold on August 28 $ b. Inventory on August 31 $
Question 1
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: May 1 Inventory 80 units @ $20 Sale 9 67 units 13 78 units @ $22 Purchase 28 Sale 19 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on May 28 and (b) the inventory on May 31. a. Cost of merchandise sold on May 28 b. Inventory on May 31...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item HM46 are as follows May 1 Inventory 66 units $25 9 Sale 47 units 13 Purchase 48 units $30 28 Sale 27 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on May 28 and (b) the Inventory on May 31. a. Cost of merchandise sold on May 28 b. Inventory on May 31
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item B901 are as follows: 42 units @ $15 33 units January 1 9 13 28 Inventory Sale Purchase Sale 37 units @ $16 15 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on January 28 and (b) the inventory on January 31. a. Cost of merchandise sold on January $ 28 b. Inventory on January 31
perpetual inventory using FIFO
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item 1901 are as follows: August 1 Inventory 37 units $24 31 units 13 Purchase 41 units $25 Sale 28 Sale 14 units Assuming a perpetual Inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on August 28 and (b) the inventory on August 31. a. Cost of merchandise sold on August 28 b. Inventory on August 31
Most questions answered within 3 hours.
-
please don't use the p value method instead use the "5 steps of
hypothesis testing." Or...
asked 1 minute ago -
It is said that Galileo discovered a basic principle of the
pendulum—that the period is independent...
asked 6 minutes ago -
The Cost of Equity and
Flotation Costs
Messman Manufacturing
will issue common stock to the public...
asked 13 minutes ago -
a) summarize the challenges facing New Britain today
b) identify some of its strengths
c) suggest...
asked 15 minutes ago -
**86 at 40 not 88. please show how got Tr in calculations thank
you
2) The...
asked 16 minutes ago -
McGlaun Company pays its employees every two weeks. The firm
last paid its employees on September...
asked 29 minutes ago -
You have been gifted a Mogwai as a pet and decide to do a little
online...
asked 34 minutes ago -
given the standard of 200 mg/dl and the absorbance of that
standard is 0.640. What is...
asked 37 minutes ago -
Exercise 8-51 Algo
An accounting professor is notorious for being stingy in giving
out good letter...
asked 45 minutes ago -
month
total distribution cost
level of activity (unit produced)
july
230.000
3500
august
250.000
3750
september...
asked 46 minutes ago -
A smoke detector system uses two devices, A and B. If smoke is
present, the probability...
asked 1 hour ago -
Your division head has assigned another important project to you
and your team. This project is...
asked 58 minutes ago