Total cost | 9000 | |
Divide by Total units | 450 | =90+315+45 |
Average cost per unit | 20 | |
Value of ending inventory | 3000 | =150*20 |
Tamarisk, Inc. has the following inventory data: July 1 Beginning inventory 7 Purchases 22 Purchases 90...
Ayayai Corp. has the following inventory data: July 1 Beginning Inventory 38 units at $19 $722 7 Purchases 132 units at $20 2640 22 Purchases 19 units at $21 399 $3761 A physical count of merchandise inventory on July 30 reveals that there are 47 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is $2859. $2708. $2802. $2774.
Ayayai Corp. has the following inventory data: July 1 Beginning inventory 28 units at $18 $504 7 Purchases 99 units at $19 1881 22 Purchases 14 units at $21 294 $2679 A physical count of merchandise inventory on July 30 reveals that there are 45 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is
QUESTION 5 Olympus Climbers Company has the following inventory data: July 1 Beginning inventory 30 units at $19 $ 570 Purchases 105 units at $20 2,100 Purchases 15 units at $22 _330 $3,000 A physical count of merchandise inventory on July 30 reveals that there are 48 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is O $930. $990. $2,010. $2,070.
Bonkers Bananas has the following inventory data:
July 1
Beginning inventory
42 units at $21
$882
7
Purchases
148 units at $22
3256
22
Purchases
21 units at $23
483
$4621
A physical count of merchandise inventory on July 30 reveals that
there are 53 units on hand. Using the LIFO inventory method, the
amount allocated to ending inventory for July is
$1187.
$1219.
$1124.
$1113
Question 6 Blue Spruce Corp. has the following inventory data: July 1 Beginning inventory 126 units at $19 441 units at $20 03 units at 22 2394 820 22 Purchases A physical count of merchandise inventory on July 10 reveals that there are 210 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July $4326. $8274 $12580 $4074
14. Pasquale has the following inventory information. July 1 Beginning Inventory 20 units at $19 $ 380 7 Purchases 70 units at $20 1,400 22 Purchases 10 units at $24 240 $2,020 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is
Sheffield has the following inventory information. July 1 Beginning Inventory 20 units at $16 $320 7 Purchases 70 units at $21 1470 22 Purchases 20 units at $23 460 $2250 A physical count of merchandise inventory on July 31 reveals that there are 35 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is
- 15. Pasquale has the following inventory information. July 1 Beginning Inventory 20 units at $19 $ 380 7 Purchases 70 units at $20 1,400 22 Purchases 10 units at $24 240 $2,020 A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is a. $1,390. b. $1,414. c. $1,470. d. $1,440.
Swifty Corporation has the following inventory data: July 1 Beginning inventory 30 units at $15 $450 7 Purchases 106 units at $16 1696 22 Purchases 15 units at $17 255 $2401 A physical count of merchandise inventory on July 30 reveals that there are 38 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is $1755. $1778. $1823. $1702.
Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1 June 10 June 15 June 28 156 units 208 units 208 units 156 units $1080 1620 1750 1370 $5820 A physical count of merchandise inventory (rounded to whole dollar) on June 30 reveals that there are 220 units on hand. The inventory method which results in the highest gross profit for June is not determinable. the LIFO method. the FIFO method the average cost...