PURCHASED DATE | Quantity | Amount |
January 1st | 3 units | 600 per unit |
January 10th | 6 units | 660 Per unit |
Closing inventory under FIFO | ||
Sold date | Quantity | Amount |
January 8th | 2 units of 600 per unit | |
January 15th | 1 unit of 600 per unit and 3 units of 660 per unit | |
Closing balance | 3 units of 660 per unit | 1980 |
Closing inventory under LIFO | ||
Sold date | Quantity | Amount |
January 8th | 2 units of 600 per unit | |
January 15th | 4 units of 660 per unit | |
Closing balance | 2 units of 660 per unit and 1 unit of 600 per unit | 1920 |
(660*2+600*1) | ||
Closing inventory under Moving Average cost | ||
Sold date | Quantity | Amount |
January 8th | 2 units of 600 per unit | |
January 15th | 4 units of 660 per unit | |
Average
cost on January 15th before sale |
(600)+(660*6)/7 units =4560/7 =651.43 |
|
Closing balance | 3 units of 651.43 | 1954 |
(651.43*3) | ||
Olca Exercise 6-16 (Part Level Submission) Bufford Appliance uses a perpetual inventory system. For its flat-screen...
Sarasota Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $605 each. On January 10, Sarasota purchased 6 units at $745 each. The company sold 2 units on January 8 and 4 units on January 15. Compute the ending inventory under FIFO. (Round answer to 0 decimal places, e.g. 1,250.) FIFO $ The ending inventory eTextbook and Media 0 decimal places, e.g. 1,250.) Compute the ending inventory under LIFO. (Round...
Sarasota Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 5 sets at $655 each. On January 10, Sarasota purchased 8 units at $755 each. The company sold 2 units on January 8 and 4 units on January 15. Incorrect answer iconYour answer is incorrect. Compute the ending inventory under FIFO. (Round answer to 0 decimal places, e.g. 1,250.) FIFO The ending inventory $ eTextbook and Media Assistance Used eTextbook Incorrect...
Crane Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $580 each. On January 10, Crane purchased 6 units at $650 each. The company sold 2 units on January 8 and 5 units on January 15. Your answer is incorrect. Try again. Compute the ending inventory under FIFO. (Round answer to 0 decimal places, e.g. 1,250.) FIFO The ending inventory $ Your answer is incorrect. Try again. Compute the ending...
IS weyqandte Accounting Principles, 13e CALCULATOR PRINTER VERSION 4 BACK NEXT Exercise 6-16 a-c Swifty Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $402 each. On January 10, Swifty purchased 6 units at $500 each. The company sold 2 units on January 8 and 5 units on January 15. Your answer is correct. Compute the ending inventory under FIFO. (Round answer to o decimal places, e.g. 1,250.) FIFO The...
Exercise 6-09 a1,a2, b (Part Level Submission) Sheffield Company reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 210 $8 $ 1,680 12 Purchase 430 9 3,870 23 Purchase 360 10 3,600 30 Inventory 200 (a1) Your answer is correct. Calulate Weighted Average Unit Cost. (Round answer to 2 decimal places, e.g. 15.25.) Weighted Average Unit Cost $ Click if you would like to Show Work for this question: Open Show Work SHOW...
Sunland Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Unit Cost Units Sales Units $150 Date July 1 July 6 July 11 July 14 July 21 July 27 $164 $175 Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round answers to 2 decimal places, e.g. $105.50.) Average cost for each unit July 1 July 6 July 11 July...
Exercise 6-17 (Part Level Submission) Kaleta Company uses the perpetual inventory system and reports the following for the month of June. Date Unit Cost June 1 12 Explanation Inventory Purchase Purchase Inventory Units 200 400 Total Cost $1,000 2,400 2,100 6 7 23 300 30 100 OLCA! O LOULOU O olluin - 0 C El O CLIC Assume a sale of 440 units occurred on June 15 for a selling price of $8 and a sale of 360 units on...
Problem 6-03A a, b1-b2, c (Part Level Submission) (Video) Crane Company had a beginning inventory on January 1 of 160 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made. Mar. 15 400 units at $24 Sept. 4 300 units at $33 July 20 220 units at $28 Dec. 2 100 units at $30 980 units were sold. Crane Company uses a periodic inventory system. (a) Your answer is correct. Determine...
Рroblem 6-09A а1-а2, b Cullumber Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales Purchases Sales Units Date Units Unit Cost $130 July 1 5 July 6 3 July $144 11 6 July 14 July 21 7 $155 July 27 5 Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round answers to 2 decimal places, e.g. $105.50.) Average cost for...
Exercise 6-05 Larkspur, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 80 units were sold. Units Unit Cost Date May 1 Explanation Inventory Purchase Purchase Total Total Cost $306 260 440 $1,006 24 Calculate the weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost. LINK TO TEXT LINK TO VIDEO Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost...