The last part of the question gives me option of : FIFO or Weight-Average
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The last part of the question gives me option of : FIFO or
Weight-Average
Application Problem...
Application Problem 7-3B a1-a2, b (Part Level Submission) Saddlery Company sells leather saddles and equipment for...
Application Problem 7-3B a1-a2, b (Part Level Submission) Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the periodic inventory system. The following schedule relates to the company’s inventory for the month of May: Cost Sales May 1 Beginning inventory 120 units $42,000 5 Sale 80 units $36,400 9 Purchase 40 units $15,400 13 Purchase 160 units $67,200 24 Sale 160 units $78,400 27 Sale 40 units $22,400 30 Purchase 60 units $27,720 Calculate Saddlery Company's cost...
Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the periodic inventory system....
Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the periodic inventory system. The following schedule relates to the company's inventory for the month of May: Cost Sales $54,000 $46,800 May 1 5 9 13 Beginning inventory Sale Purchase Purchase Sale Sale Purchase 90 units 60 units 30 units 120 units 120 units 30 units 45 units $19,800 $86,400 24 $100,800 $28,800 27 30 $35,640 (al) Calculate Saddlery Company's cost of goods sold, gross margin, and ending...
I don't get 2nd part help!(The three red boxes are incorrect) Sales Cost $60,000 $52,000 May...
I don't get 2nd part help!(The three red boxes are
incorrect)
Sales Cost $60,000 $52,000 May 1 5 9 13 24 27 30 Beginning inventory Sale Purchase Purchase Sale Sale Purchase 150 units 100 units 50 units 200 units 200 units 50 units 75 units $22,000 $96,000 $112,000 $32,000 $39,600 (a1) Your answer is correct. Calculate Saddlery Company's cost of goods sold, gross margin, and ending inventory using FIFO. Cost of goods sold Gross margin 42000 Ending Inventory 63600 SHOW...
Application Problem 7-3A a-b (Part Level Submission) Soft Touch Company sells leather furniture. The following schedule...
Application Problem 7-3A a-b (Part Level Submission) Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for the month of April: Sales Cost $46,056 27,810 $30,827 April 1 3 5 11 15 22 28 Beginning inventory Purchase Sale Purchase Sale Sale Purchase 76 units 45 units 29 units 28 units 58 units 34 units 51 units 18,340 75,110 40,290 34,578 Soft Touch uses the periodic inventory system. (a) Calculate Soft Touch Company's cost of goods...
Application Problem 7-6A a-b (Part Level Submission) The following information relates to Glassworks Ltd.'s inventory transactions...
Application Problem 7-6A a-b (Part Level Submission) The following information relates to Glassworks Ltd.'s inventory transactions during the month of July. July 1 4 8 14 22 28 Beginning inventory Purchase Sale Sale Purchase Sale Units Cost/Unit Amount 4,300 $12.00 $51,600 5,700 $13.00 74,100 6,600 1,400 4,690 $12.50 59,094 2,970 All of the units sold were priced at $18 per unit. (a) Glassworks Ltd, uses the perpetual inventory system. Calculate Glassworks' cost of goods sold, gross margin, and ending inventory...
help me find FIFO and LIFO and AVERAGE COST in part B2 Problem 6-3A (Part Level...
help me find FIFO and LIFO and AVERAGE COST
in part B2
Problem 6-3A (Part Level Submission) Windsor, Inc. had a beginning inventory on January 1 of 120 units of Product 4-18-15 at a cost of $22 per unit. During the year, the following purchases were made. Mar. 15 July 20 320 units 200 units at at $25 $26 Sept. 4 Dec. 2 280 units 80 units at at $28 $31 800 units were sold. Windsor, Inc. uses a periodic...
The following information relates to Hogs Back Falls Ltd.’s inventory transactions during the month of February....
The following information relates to Hogs Back Falls Ltd.’s inventory transactions during the month of February. Units Cost/Unit Amount Feb. 1 Beginning inventory 7,500 $23.00 $172,500 10 Sale 6,500 14 Purchase 4,000 $24.00 $96,000 18 Purchase 500 $28.00 $14,000 25 Sale 4,300 26 Purchase 4,200 $33.00 $138,600 28 Sale 3,200 All of the units sold were priced at $92.00 per unit. Hogs Back Falls Ltd. uses the perpetual inventory system. Calculate Hogs Back’s cost of goods sold, gross margin, and...
29A Accounting for inventory using the perpetual inventory system/FIFO, LIFO, and weighted average, and comparing FIFO,...
29A Accounting for inventory using the perpetual inventory system/FIFO, LIFO, and weighted average, and comparing FIFO, LIFO, and weighted-average Iron Man began August with 65 units of iron inventory that cost $30 each. During August, the company completed the following inventory transactions: Units Unit Cost Unit Sale Price $ 81 Aug. 3 8 85 $50 Sale Purchase Sale Purchase 75 45 Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare...
FIFO, LIFO, and WEIGHTED AVERAGE METHOD: Hurst Company's beginning inventory and purchases during the fiscal year...
FIFO, LIFO, and WEIGHTED AVERAGE METHOD:
Hurst Company's beginning inventory and purchases during the fiscal year ended December 31, 20X2 were as follows Date Event Units Unit Price Total Cost January 1,20X2 January 12 February 28 June 29 August 31 October 29 November 30 December 21 g. Invento 1st purchase 2nd purchase 3rd purchase 4th purhcase 5th purchase 6th purchase 7th purchase 1,500 10.00$ 15,000.00 500 11.50$ 5,750.00 600 S14.50$ 8,700.00 1,200 15.00 18,000.00 800 $ 16.50$ 13,200.00 300 $...
Question1 Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for...
Question1 Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for the month of April Cost Sales Apri 1 Beginning inventory 73 units $43,654 30,233 3 Purchase 5 Sale 11 Purchase 15 Sale 22 Sale 28 Purchase 49 units 33 units 27 units 53 units 36 units 51 units $37,554 17,577 63,282 41,256 34,374 Soft Touch uses the periodic inventory system Your answer is partially correct. Try again Calculate Soft Touch Company's cost of goods...
Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the periodic inventory system. The following schedule relates to the company's inventory for the month of May: Cost Sales $54,000 $46,800 May 1 5 9 13 Beginning inventory Sale Purchase Purchase Sale Sale Purchase 90 units 60 units 30 units 120 units 120 units 30 units 45 units $19,800 $86,400 24 $100,800 $28,800 27 30 $35,640 (al) Calculate Saddlery Company's cost of goods sold, gross margin, and ending...
I don't get 2nd part help!(The three red boxes are
incorrect)
Sales Cost $60,000 $52,000 May 1 5 9 13 24 27 30 Beginning inventory Sale Purchase Purchase Sale Sale Purchase 150 units 100 units 50 units 200 units 200 units 50 units 75 units $22,000 $96,000 $112,000 $32,000 $39,600 (a1) Your answer is correct. Calculate Saddlery Company's cost of goods sold, gross margin, and ending inventory using FIFO. Cost of goods sold Gross margin 42000 Ending Inventory 63600 SHOW...
Application Problem 7-3A a-b (Part Level Submission) Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for the month of April: Sales Cost $46,056 27,810 $30,827 April 1 3 5 11 15 22 28 Beginning inventory Purchase Sale Purchase Sale Sale Purchase 76 units 45 units 29 units 28 units 58 units 34 units 51 units 18,340 75,110 40,290 34,578 Soft Touch uses the periodic inventory system. (a) Calculate Soft Touch Company's cost of goods...
Application Problem 7-6A a-b (Part Level Submission) The following information relates to Glassworks Ltd.'s inventory transactions during the month of July. July 1 4 8 14 22 28 Beginning inventory Purchase Sale Sale Purchase Sale Units Cost/Unit Amount 4,300 $12.00 $51,600 5,700 $13.00 74,100 6,600 1,400 4,690 $12.50 59,094 2,970 All of the units sold were priced at $18 per unit. (a) Glassworks Ltd, uses the perpetual inventory system. Calculate Glassworks' cost of goods sold, gross margin, and ending inventory...
help me find FIFO and LIFO and AVERAGE COST
in part B2
Problem 6-3A (Part Level Submission) Windsor, Inc. had a beginning inventory on January 1 of 120 units of Product 4-18-15 at a cost of $22 per unit. During the year, the following purchases were made. Mar. 15 July 20 320 units 200 units at at $25 $26 Sept. 4 Dec. 2 280 units 80 units at at $28 $31 800 units were sold. Windsor, Inc. uses a periodic...
29A Accounting for inventory using the perpetual inventory system/FIFO, LIFO, and weighted average, and comparing FIFO, LIFO, and weighted-average Iron Man began August with 65 units of iron inventory that cost $30 each. During August, the company completed the following inventory transactions: Units Unit Cost Unit Sale Price $ 81 Aug. 3 8 85 $50 Sale Purchase Sale Purchase 75 45 Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare...
FIFO, LIFO, and WEIGHTED AVERAGE METHOD:
Hurst Company's beginning inventory and purchases during the fiscal year ended December 31, 20X2 were as follows Date Event Units Unit Price Total Cost January 1,20X2 January 12 February 28 June 29 August 31 October 29 November 30 December 21 g. Invento 1st purchase 2nd purchase 3rd purchase 4th purhcase 5th purchase 6th purchase 7th purchase 1,500 10.00$ 15,000.00 500 11.50$ 5,750.00 600 S14.50$ 8,700.00 1,200 15.00 18,000.00 800 $ 16.50$ 13,200.00 300 $...
Question1 Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for the month of April Cost Sales Apri 1 Beginning inventory 73 units $43,654 30,233 3 Purchase 5 Sale 11 Purchase 15 Sale 22 Sale 28 Purchase 49 units 33 units 27 units 53 units 36 units 51 units $37,554 17,577 63,282 41,256 34,374 Soft Touch uses the periodic inventory system Your answer is partially correct. Try again Calculate Soft Touch Company's cost of goods...
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