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Por questions 14 - 16 assume the company uses Weighted Average cost inventory valuation, = 198.65o...
During September, KM company sells 9,800 watches for $300.00 each. The company has the following inventory...
During September, KM company sells 9,800 watches for $300.00 each. The company has the following inventory purchase transactions for September: Date Transaction # of units Unit Cost Total Cost 1-Sep Beginning inventory 300 $195.00 $58,500 4-Sep Purchase 6,000 $198.00 1,188,000 24-Sep Purchase 3,700 $200.00 740,000 10,000 $1,986,500 1. Calculate the cost of goods sold (FIFO) 2. Calculate the gross profit 3. Calculate cost of goods sold (LIFO) 4. Calculate gross profit (LIFO) 5. Calculate ending inventory (WA) 6. Calculate cost...
Use the following to answer questions 7-17 During September, KM Company sells 9,800 watches for $300.00...
Use the following to answer questions 7-17 During September, KM Company sells 9,800 watches for $300.00 each. The company has the following inventory purchase transactions for September: # of Units 300 Date 1-Sep 4-Sep 24-Sep Transaction Beginning Inventory Purchase Purchase Unit cost $195.00 $198.00 $200.00 6,000 3,700 10,000 Total Cost $58,500 1,188,000 740,000 $1,986,500 7. $ _What were company's sales for the period? For questions 8 - 10 assume the company uses First-in, First-out (FIFO) inventory valuation. 8. $ 9....
Page < 1 > of 5 - ZOOM + Use the following to answer questions 1-6...
Page < 1 > of 5 - ZOOM + Use the following to answer questions 1-6 Case 4 Case 1 $85,200 Case 2 $35,400 22,000 Beginning inventory Ending inventory Purchases Cost of goods sold Case 3 $40,000 31,200 447,500 695,000 724,000 41,500 856,200 900,000 654,700 ini i For case 1, determine goods available for sale For case 1, determine ending inventory For case 2, determine goods available for sale For case 2, determine Purchases For case 3, determine cost of...
please show work! thank you Chapter 6 Homework Submit your answers in CANVAS before it is...
please show work! thank you
Chapter 6 Homework Submit your answers in CANVAS before it is due Use the following to answer questions 1-6 Case 4 Case 1 $85,200 Case 2 $35,400 22,000 Beginning inventory Ending inventory Purchases Cost of goods sold Case 3 $40,000 31,200 447,500 695,000 724,000 41,500 856,200 900,000 654,700 2. $___ For case 1, determine goods available for sale _For case 1, determine ending inventory For case 2, determine goods available for sale For case 2,...
1 Problem 6-3A Perpetual: Alternative cost flows P1 Montoure Company uses a perpetual inventory system. It...
1 Problem 6-3A Perpetual: Alternative cost flows P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. (For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 200 from the March 13 purchase, 50 from the August 21 purchase, and 250 from the September 5 purchase.) Date Activities Units Acquired at Cost Units Sold at Retail Jan. Beginning inventory 600 units o $45.00 per...
Table 7-3 Alton Company had the following activity in its inventory account during April 20X9. Cost...
Table 7-3 Alton Company had the following activity in its inventory account during April 20X9. Cost per Date Activity Units Unit Cost Total April 1 Beginning inventory 100 $3.00 $300 April 3 Purchase 40 3.10 124 April 7 Sale 50 April 12 Purchase 50 3.20 160 April 16 Sale 70 April 23 Sale 40 April 30 Purchase 60 3.30 198 Units in beginning inventory 100 units Units purchased 150 units Units sold 160 units Referring to Table 7-3, what is...
9. A company uses the weighted average method of inventory valuation under a periodic inventory system....
9. A company uses the weighted average method of inventory valuation under a periodic inventory system. The company began the year with a zero inventory balance. They had the following transactions during the year. (30 Points) Purchased 65 units at AED 7 per unit Purchased 130 units at AED 7 per unit Sold 110 units at AED 11 per unit Purchased 55 units at AED 8 per unit Sold 110 units at AED 13.25 per unit • At the end...
y Inventory Valuation (16 points) prima Co, began the month of September with 1.000 units of...
y Inventory Valuation (16 points) prima Co, began the month of September with 1.000 units of inventory on hand at a cost of $45 each. These inventory items sell for $65.00 each. Prima adjusts and closes its books on a monthly basis. The following schedule presents the sales and purchases of this item during the month of September Date Unit cost September 9 September 15 September 22 September 27 Transaction Sold 200 units Purchased 400 units P urchased 300 units...
Please answer all of the questions. NO CURSIVE PLEASE! 5. Assume the following data with regard...
Please answer all of the questions.
NO CURSIVE PLEASE!
5. Assume the following data with regard to inventory of Beta Company. Sep 1 Inventory 80 units @10 per unit Purchase 100 units @11 per unit Purchase 70 units @12 per unit Purchase 85 units @12 per unit Purchase 90 units @13 per unit Inventory, Sep 30 160 units → Using the periodic inventory system, calculate the cost of the inventory at September 30 and the cost of goods sold in...
100 Irish Company uses the periodic inventory method and had the following inventory information available: Units...
100 Irish Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory $ 500 1/20 Purchase 400 2,400 7/25 Purchase 200 1,400 10/20 Purchase 2,400 1.000 $6.700 A physical count of inventory on December 31 revealed that there were 480 units on hand. S6 300 Instructions Answer the following independent questions and show computations supporting your answers. 1. Assume that the company uses the FIFO method. The value of...
Use the following to answer questions 7-17 During September, KM Company sells 9,800 watches for $300.00 each. The company has the following inventory purchase transactions for September: # of Units 300 Date 1-Sep 4-Sep 24-Sep Transaction Beginning Inventory Purchase Purchase Unit cost $195.00 $198.00 $200.00 6,000 3,700 10,000 Total Cost $58,500 1,188,000 740,000 $1,986,500 7. $ _What were company's sales for the period? For questions 8 - 10 assume the company uses First-in, First-out (FIFO) inventory valuation. 8. $ 9....
Page < 1 > of 5 - ZOOM + Use the following to answer questions 1-6 Case 4 Case 1 $85,200 Case 2 $35,400 22,000 Beginning inventory Ending inventory Purchases Cost of goods sold Case 3 $40,000 31,200 447,500 695,000 724,000 41,500 856,200 900,000 654,700 ini i For case 1, determine goods available for sale For case 1, determine ending inventory For case 2, determine goods available for sale For case 2, determine Purchases For case 3, determine cost of...
please show work! thank you
Chapter 6 Homework Submit your answers in CANVAS before it is due Use the following to answer questions 1-6 Case 4 Case 1 $85,200 Case 2 $35,400 22,000 Beginning inventory Ending inventory Purchases Cost of goods sold Case 3 $40,000 31,200 447,500 695,000 724,000 41,500 856,200 900,000 654,700 2. $___ For case 1, determine goods available for sale _For case 1, determine ending inventory For case 2, determine goods available for sale For case 2,...
1 Problem 6-3A Perpetual: Alternative cost flows P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. (For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 200 from the March 13 purchase, 50 from the August 21 purchase, and 250 from the September 5 purchase.) Date Activities Units Acquired at Cost Units Sold at Retail Jan. Beginning inventory 600 units o $45.00 per...
9. A company uses the weighted average method of inventory valuation under a periodic inventory system. The company began the year with a zero inventory balance. They had the following transactions during the year. (30 Points) Purchased 65 units at AED 7 per unit Purchased 130 units at AED 7 per unit Sold 110 units at AED 11 per unit Purchased 55 units at AED 8 per unit Sold 110 units at AED 13.25 per unit • At the end...
y Inventory Valuation (16 points) prima Co, began the month of September with 1.000 units of inventory on hand at a cost of $45 each. These inventory items sell for $65.00 each. Prima adjusts and closes its books on a monthly basis. The following schedule presents the sales and purchases of this item during the month of September Date Unit cost September 9 September 15 September 22 September 27 Transaction Sold 200 units Purchased 400 units P urchased 300 units...
Please answer all of the questions.
NO CURSIVE PLEASE!
5. Assume the following data with regard to inventory of Beta Company. Sep 1 Inventory 80 units @10 per unit Purchase 100 units @11 per unit Purchase 70 units @12 per unit Purchase 85 units @12 per unit Purchase 90 units @13 per unit Inventory, Sep 30 160 units → Using the periodic inventory system, calculate the cost of the inventory at September 30 and the cost of goods sold in...
100 Irish Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory $ 500 1/20 Purchase 400 2,400 7/25 Purchase 200 1,400 10/20 Purchase 2,400 1.000 $6.700 A physical count of inventory on December 31 revealed that there were 480 units on hand. S6 300 Instructions Answer the following independent questions and show computations supporting your answers. 1. Assume that the company uses the FIFO method. The value of...
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