1 | Average cost | $10.860 | ||
2 | FIFO | LIFO | Average Cost | |
The ending inventory | $4,315 | $3,385 | $3,801 | |
The cost of goods sold | $15,776 | $16,706 | $16,290 | |
Average Cost | ||||
Units | Unit Cost | |||
115 | $9 | $1,035 | ||
660 | $10 | $6,600 | ||
559 | $11 | $6,149 | ||
401 | $12 | $4,812 | ||
115 | $13 | $1,495 | ||
1,850 | $20,091 | |||
Average cost per unit | $10.860 | |||
Ending Inventory = 350 x $10.860 | $3,801 | |||
COGS = Beginning inventory + purchases - ending inventory | ||||
= | $1,035 + $19,056 - $3,801 | |||
= | $16,290 | |||
FIFO | ||||
Units | Unit Cost | |||
115 | $13 | $1,495 | ||
235 | $12 | $2,820 | ||
Ending Inventory | $4,315 | |||
COGS = Beginning inventory + purchases - ending inventory | ||||
= | $1,035 + $19,056 - $4,315 | |||
= | $15,776 | |||
LIFO | ||||
Units | Unit Cost | |||
115 | $9 | $1,035 | ||
235 | $10 | $2,350 | ||
Ending Inventory | $3,385 | |||
COGS = Beginning inventory + purchases - ending inventory | ||||
= | $1,035 + $19,056 - $3,385 | |||
= | $16,706 | |||
CALCULATOR FULL SCREEN P. Problem 6-03A Sheffield Corp. had a beginning inventory of 115 units of...
Problem 6-03A Sheffield Corp. had a beginning inventory of 115 units of Product RST at a cost of $9 per unit. During the year, purchases were: Feb. 20 May 5 660 559 units at units at $10 $11 Aug. 12 Dec. 8 401 115 units at units at $12 $13 Sheffield uses a periodic inventory system. Sales totaled 1,500 units. x Your answer is incorrect. Try again. Determine the cost of goods available for sale. The cost of goods available...
Problem 6-03A Sunland Company had a beginning inventory of 130 units of Product RST at a cost of $8 per unit. During the year, purchases were: Feb. 20 May 5 670 600 units at units at $9 $10 Aug. 12 Dec. 8 470 130 units at units at $11 $12 dy Sunland uses a periodic inventory system. Sales totaled 1,570 units. Determine the cost of goods available for sale. The cost of goods available for sale Calculate Average Cost. (Round...
Problem 6-03A a, b1-b2, с (Video) Swifty Company had a beginning inventory on January 1 of 200 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made. Mar. 15 July 20 430 units 220 units at at $22 $23 Sept. 4 Dec. 2 300 units 100 units at at $24 $29 1,040 units were sold. Swifty Company uses a periodic inventory system. Your answer is correct. Determine the cost of goods...
Monty Corp. had a beginning inventory of 95 units of Product RST at a cost of $8 per unit. During the year, purchases were: Feb. 20 578 units at $9 May 5 510 units at $10 Monty Corp. uses a periodic inventory system. Sales totaled 1,520 units Aug. 12 377 units at $11 Dec. 8 99 units at $12 ▼ (a) Your answer is correct. (a) Determine the cost of goods available for sale The cost of goods available for...
Problem 6-03A a, b1-b2, с (Video) Ziad Company had a beginning inventory on January 1 of 150 units of Product 4-18-15 at a cost of $20 per unit. During the year, the following purchases were made. Mar. 15 July 20 400 units 250 units at at $23 $24 Sept. 4 Dec. 2 350 units 100 units at at $26 $29 1,000 units were sold. Ziad Company uses a periodic inventory system. Determine the cost of goods available for sale. The...
Oriole Company had a beginning inventory of 115 units of Product RST at a cost of $7 per unit. During the year, purchases were: Feb. 20 660 units at $8 Aug. 12 430 units at $10 May 5 520 units at $9 Dec. 8 115 units at $11 Oriole uses a periodic inventory system. Sales totaled 1,600 units. Determine the cost of goods available for sale. The cost of goods available for sale $ Calculate Average Cost. (Round answer to...
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...
Problem 6-3A Sekhon Company had a beginning inventory on January 1 of 197 units of Product 4-18-15 at a cost of $22 per unit. During the year, the following purchases were made. Mar. 15 492 units at $24 Sept. 4 406 units at $29 July 20 308 units at 25 Dc. 2 123 units at $31 1,230 units were sold. Sekhon Company uses a periodic inventory system. Determine the cost of goods available for sale The cost of goods available...
Problem 6-3A Sekhon Company had a beginning inventory on January 1 of 197 units of Product 4-18-15 at a cost of $22 per unit. During the year, the following purchases were made. Mar. 15 492 units at $24 Sept. 4 406 units at $29 July 20 308 units at 25 Dc. 2 123 units at $31 1,230 units were sold. Sekhon Company uses a periodic inventory system. Determine the cost of goods available for sale The cost of goods available...
Problem 6-02A Marigold Corp. markets CDs of numerous performing artists. At the beginning of March, Marigold had in beginning inventory 2,700 CDs with a unit cost of $7. During March, Marigold made the following purchases of CDs. March 5 March 13 1,900 3,500 @ @ $8 $9 March 21 March 26 5,000 1,900 @ @ $10 $11 During March 12,000 units were sold. Marigold uses a periodic inventory system. Your answer is correct. Determine the cost of goods available for...