) Bombard Company has the following data available: ransaction Units Purchased Unit Cost Units Sold Be...
) Bombard Company has the following data available:
|
ransaction |
Units Purchased |
Unit Cost |
Units Sold |
|
|
Be innin Inventor |
500 |
$10 |
||
|
arch 1 Purchase |
200 |
$12 |
||
|
ril 25 Sale |
350 |
|||
|
une 10 Purchase |
300 |
$14 |
||
|
ul 20 Sale |
250 |
|||
|
ctober 30 Purchase |
350 |
$15 |
||
|
ecember 15 Sale |
400 |
|||
If Bombard Company uses a perpetual LIFO inventory system, the cost of goods sold for the year is
- $3,500
- $5,520
- $16,850
- $13,350
Homework Answers
Add Answer to:
) Bombard Company
has the following data available:
ransaction
Units Purchased
Unit Cost
Units Sold
Be...
Sampe Company has the following data available Units Sold Transaction Beginning Inventory March 1 Purchase April...
Sampe Company has the following data available Units Sold Transaction Beginning Inventory March 1 Purchase April 25 Sale June 10 Purchase July 20 Sale October 30 Purchase December 15 Sale Units Purchased 400 200 Unit Cost $10 $13 350 250 400 300 $14 350 $18 If Sampe Company uses a perpetual FIFO inventory system, the cost of goods sold for the year is O A. $13,950 O B. $12,600 O C. $10,000 O D. $12,350
Gordon Company has the following data available: Units Sold Units Purchased 300 200 Unit Cost $20 $12 Transaction Begin...
Gordon Company has the following data available: Units Sold Units Purchased 300 200 Unit Cost $20 $12 Transaction Beginning Inventory March 1 Purchase April 25 Sale June 10 Purchase July 20 Sale October 30 Purchase December 15 Sale 320 310 $14 200 330 $14 320 If Gordon Company uses a perpetual FIFO inventory system, the cost of ending inventory on December 31 is O A. $4,200 O B. $11,760 OC. $16,800 OD. $6,000
FIFO, LIFO, Weighted Average Date # units purchased Cost / Unit # of units sold Selling...
FIFO, LIFO, Weighted Average Date # units purchased Cost / Unit # of units sold Selling price/ unit January 1 Beg. Inventory 200 Units $10 / unit January 10 Purchase 200 Units $12 / unit January 15 Purchase 200 Units $14 / unit January 31 Sold 250 units $18 / unit Prepare JE to record January 31 sale assuming: FIFO LIFO Weighted Average Which method best matches most recent costs to Net Sales? Which method produces an Inventory value that...
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Inventory Date Activity Units  
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Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method perpetually at the time of each sale, as if it uses perpetual inventory system. Assume Oahu Kiki's records show the following for the month of January. The company sold 290 units between January 16 and 23. Units Unit Cost Total Cost Beginning Inventory January 1 140 $ 80 $11,200 January 15 330 90 29,700 January 24 250 110 27,500 Date...
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Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies...
Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a perpetual inventory system. The following are the transactions for the month of July. Unit Units Cost $45 July 1 July 5 July 13 July 17 July 25 July 27 Beginning Inventory Sold Purchased Sold Purchased Sold 2,500 1,250 6,500 3,500 8.500 55 200CE Calculate the cost of ending inventory...
units sold is 290 Date Units Unit Cost Total Cost Beginning Inventory Purchase January 1 January...
units sold is 290
Date Units Unit Cost Total Cost Beginning Inventory Purchase January 1 January 15 January 24 $ 80 140 $11,200 29,700 27,500 330 90 Purchase 250 110 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, Complete this question by entering your answers in the tabs below....
Cost of Goods Available for Sale Cost of Goods Sold- January 5 Cost of Goods Sold- January 12 Cos...
We were unable to transcribe this imageWe were unable to transcribe this imageCost of Goods Available for Sale Cost of Goods Sold- January 5 Cost of Goods Sold- January 12 Cost of Goods Sold- January 20 Inventory Balance Perpetual LIFO: #of Unit Cost of Goods #of units Cost per unit # of units | Cost per Ending Inventory Cost of | # of units Cost per unit Cost of Goods Soldsold | # of units Cost per unit Cost of...
Sampe Company has the following data available Units Sold Transaction Beginning Inventory March 1 Purchase April 25 Sale June 10 Purchase July 20 Sale October 30 Purchase December 15 Sale Units Purchased 400 200 Unit Cost $10 $13 350 250 400 300 $14 350 $18 If Sampe Company uses a perpetual FIFO inventory system, the cost of goods sold for the year is O A. $13,950 O B. $12,600 O C. $10,000 O D. $12,350
Gordon Company has the following data available: Units Sold Units Purchased 300 200 Unit Cost $20 $12 Transaction Beginning Inventory March 1 Purchase April 25 Sale June 10 Purchase July 20 Sale October 30 Purchase December 15 Sale 320 310 $14 200 330 $14 320 If Gordon Company uses a perpetual FIFO inventory system, the cost of ending inventory on December 31 is O A. $4,200 O B. $11,760 OC. $16,800 OD. $6,000
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Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method perpetually at the time of each sale, as if it uses perpetual inventory system. Assume Oahu Kiki's records show the following for the month of January. The company sold 290 units between January 16 and 23. Units Unit Cost Total Cost Beginning Inventory January 1 140 $ 80 $11,200 January 15 330 90 29,700 January 24 250 110 27,500 Date...
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Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a perpetual inventory system. The following are the transactions for the month of July. Unit Units Cost $45 July 1 July 5 July 13 July 17 July 25 July 27 Beginning Inventory Sold Purchased Sold Purchased Sold 2,500 1,250 6,500 3,500 8.500 55 200CE Calculate the cost of ending inventory...
units sold is 290
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