Total units available for sale = 150+200+250+100 = 700 Units
Sale unit = 175+200+100 = 475
Ending inventory = 700-475 = 225 Units
Ending inventory Cost = (100*24+125*23) = 5275
So answer is d) $5275
Raymond Company had 150 units of product A on hand at January 1, 2012, costing $21...
Marsh Company had 150 units of product A on hand at January 1, year 2, costing $21 each. Purchases of product A during the month of January were as follows: Units Unit cost Jan. 10 200 $22 18 250 23 28 100 24 A physical count on January 31, year 2, shows 250 units of product A on hand. The cost of the inventory at January 31, year 2, under the LIFO method is 1. $5,850 2. $5,550 3. $5,350 4....
QUESTION 9 Quayle Bookstore had 500 units on hand at January 1, costing $9 each. Purchases and sales during the month of January were as follows: Date Purchases 250 @ $10 250 @ 512 Jan. 14 17 25 29 Quayle does not maintain perpetual inventory records. According to a physical count, 360 units were on hand at January 31. The cost of the inventory at January 31, under the LIFO method is: $3,240 $3,650. $4,100. $3,820 QUESTION 12 A company...
Question 7 Bramble Bookstore had 550 units on hand at January 1, costing $9 each. Purchases and sales during the month of January were as follows: Purchases Date Jan. Sales 350 @ $14 14 250 @ $12 250 $10 270 $17 Bramble does not maintain perpetual inventory records. According to a physical count, 430 units were on hand at January 31. The cost of the inventory at January 31, under the LIFO method is: $5560. O $3870. $4300. $3440. Click...
Generally, which inventory costing method approximates most closely the current cost for each of the following? 1. Cost of goods sold Ending inventory LIFO FIFO 2. Lifo Lifo 3. Fifo Fifio 4. Fifo Lifo Marsh Company had 150 units of product A on hand at January 1, year 2, costing $21 each. Purchases of product A during the month of January were as follows: Units Unit cost Jan. 10 200 $22 18 250 23 28 100 24 A physical count on...
Question 6 Marigold Bookstore had 550 units on hand at January 1, costing $8 each. Purchases and sales during the month of January were as follows: Purchases Date Jan. Sales 410 @ $14 14 290 @ $10 290 @ $11 250 @ $15 Marigold does not maintain perpetual inventory records. According to a physical count, 470 units were on hand at January 31. The cost of the inventory at January 31, under the FIFO method is: $3760. $4990. $5170. $4700....
1. Botter Company had a beginning inventory of 200 units at a cost of $13 per unit on August 1. During the month, the following purchases and sales were made. Purchases 250 units at S14 350 units at S15 200 units at S16 Sales August August August 4 15 28 August August August August 7 150 units 11 100 units 17 300 units 24 200 units Botter uses a periodic inventory system Instructions Determine ending inventory and cost of goods...
P6-13A Kane Ltd. had a beginning inventory on January 1 of 250 units of product SXL at a cost of $160 per unit. During the year, purchases were as follows: Units Unit Cost Total Cost Mar. 15 700 $150 $105,000 July 20 500 145 72,500 Sept. 4 450 135 60,750 Dec. 2 100 125 12,500 Kane uses a periodic inventory system. At the end of the year, a physical inventory count determined that there were 200 units on hand. Instructions...
Please provide detail answers.
Jessica's Office Supply, Inc., had 300 calculators on hand at January 1, 2017, costing $16 each. Purchases and sales of calculators during the month of January were as follows: Purchases Sales 200 @ $25 Date January 12 14 29 30 150 @ $17 100 @ $18 150 @ $30 Jessica does not maintain perpetual inventory records. According to a physical count, 200 calculators were on hand at January 31, 2017. Required: 1. What is the amount...
Ferris Company began January with 7,000 units of its principal
product. The cost of each unit is $9. Merchandise transactions for
the month of January are as follows:
Purchases
Date of Purchase
Units
Unit Cost*
Total Cost
Jan. 10
6,000
$
10
$
60,000
Jan. 18
7,000
11
77,000
Totals
13,000
137,000
* Includes purchase price and cost of freight.
Sales
Date of Sale
Units
Jan. 5
3,000
Jan. 12
1,000
Jan. 20
4,000
Total
8,000
12,000 units were on...
Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 3,000 $ 7 $ 21,000 Jan. 18 4,000 8 32,000 Totals 7,000 53,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 1,000 Jan. 20 3,000 Total 6,000 5,000 units were on...