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Problem 1 (10 pts.): Morton Company uses the periodic inventory method. The company's 20XX inventory information...
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...
PROBLEM 2: 20 POINTS Irish Company uses the periodie inventory method and had the folowing inventory...
PROBLEM 2: 20 POINTS Irish Company uses the periodie inventory method and had the folowing inventory information available: Unit Cos $5 Total Cost $ 500 Units 1/1 Beginning Inventory Purchase 100 1/20 7/25 400 2,400 1,400 Purchase Purchase 200 10/20 300 2,400 $6.200 1.000 A physical count of inventory on December 31 revealed that there were 480 units on hand Instructions Answer the tollowing independent questions and ahow computations supporting your answers 1. Assume that the company uses the FIFO...
SA Hansen Company uses the periodic inventory method and had the following inventory information available: Units...
SA Hansen Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 100 $ 300 1/20 Purchase 500 2.000 7/25 Purchase 100 500 10/20 Purchase 300 1.800 1.000 $4,600 A physical count of inventory on December 31 revealed that there were 380 units on hand. Instructions Compute Ending Inventory and Cost of Goods Sold using: FIFO, LIEQ and Arcore Cost Show detailed work of all your computations.
McGregor Company uses the periodic inventory method and has the following inventory information available: Units Unit...
McGregor Company uses the periodic inventory method and has the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 100 $4 $400 1/20 Purchase 500 $5 $2,500 7/25 Purchase 100 $7 $ 700 10/20 Purchase 300 $8 $2,400 1,000 $6,000 A physical count of inventory on December 31 revealed that there were 325 units on hand. 1. Assume that the company uses the FIFO method. What cost of inventory would they report on December 31? 2. Assume...
MC MR 3. (14 points) Hogwallop Company uses the periodic inventory method and had the following...
MC MR 3. (14 points) Hogwallop Company uses the periodic inventory method and had the following inventory information will Unit Cost 1/1 Beginning Inventory Total Cost 150 $ 600 1/20 Purchase 2.400 7/25 Purchase 10/20 Purchase Units 400 200 310 1,060 1.400 2.480 $6,880 A physical count of inventory on December 31 revealed that there were 380 units on hand. Instructions Answer the following independent questions and show computations supporting your answers. 1. Assume that the company uses the FIFO...
Exercise 239 Grother Company uses the periodic inventory method and had the following inventory information available:...
Exercise 239 Grother Company uses the periodic inventory method and had the following inventory information available: Unit Cost 1/1 1/20 7/25 10/20 Beginning Inventory Purchase Purchase Purchase Units 100 500 100 300 1,000 Total Cost $400 2,500 700 2,400 $6,000 $8 A physical count of inventory on December 31 revealed that there were 350 units on hand. Answer the following independent questions. 1. Assume that the company uses the FIFO method. The value of the ending inventory at December 31...
3.) Shamrock Company uses the periodic inventory method and had the following information available: (20 points)...
3.) Shamrock Company uses the periodic inventory method and had the following information available: (20 points) Units Unit Cost 1/1 Beginning Inventory 100 $4 1/20 Purchase 7/25 Purchase 200 10/20 Purchase 300 400 A physical count of inventory on 12/31 revealed there were 400 units on hand. Complete the following: COST OF GOODS AVAILABLE FOR SALE Date Explanation Units Unit Cost Total Cost / / / 1 / / II / 17 / / / / LION FIFO: / /...
Bramble Company uses the periodic inventory method and had the following inventory information available: Units Unit Co...
Bramble Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 124 $496 1/20 620 3 Purchase Purchase $ 5 $ 7 ,100 868 7/25 124 10/20 Purchase 372 2,976 1,240 $7,440 A physical count of inventory on December 31 revealed that there were 434 units on hand. Answer the following independent questions. (Round average cost per unit to 2 decimal places, e.g. 5.25 and final answers to 0...
Pina Colada Company uses the periodic inventory method and had the following inventory information available: Units...
Pina Colada Company uses the periodic inventory method and had the following inventory information available: Units 1/1 Beginning Inventory 95 1/20 Purchase Purchase Purchase Unit Cost $3 $4 $5 $ 8 495 95 285 7/25 10/20 Total Cost $285 1.980 475 2 ,280 970 $5,020 A physical count of inventory on December 31 revealed that there were 375 units on hand. Answer the following independent questions. (Round average cost per unit to 2 decimal places, eg. 5.25 and final answers...
Question 4 View Policies Current Attempt in Progress Whispering Winds Company uses the periodic inventory method...
Question 4 View Policies Current Attempt in Progress Whispering Winds Company uses the periodic inventory method and had the following inventory Information available Units 1/1 118 Beginning Inventory Purchase Unit Cost $4 $5 Total Cost $472 2,950 590 1/20 7/25 10/20 Purchase 118 826 Purchase 354 1,180 2,832 $7,080 A physical count of inventory on December 31 revealed that there were 413 units on hand. Answer the following independent questions. (Round average cost per unit to 2 decimal places, e.g....
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...
PROBLEM 2: 20 POINTS Irish Company uses the periodie inventory method and had the folowing inventory information available: Unit Cos $5 Total Cost $ 500 Units 1/1 Beginning Inventory Purchase 100 1/20 7/25 400 2,400 1,400 Purchase Purchase 200 10/20 300 2,400 $6.200 1.000 A physical count of inventory on December 31 revealed that there were 480 units on hand Instructions Answer the tollowing independent questions and ahow computations supporting your answers 1. Assume that the company uses the FIFO...
SA Hansen Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 100 $ 300 1/20 Purchase 500 2.000 7/25 Purchase 100 500 10/20 Purchase 300 1.800 1.000 $4,600 A physical count of inventory on December 31 revealed that there were 380 units on hand. Instructions Compute Ending Inventory and Cost of Goods Sold using: FIFO, LIEQ and Arcore Cost Show detailed work of all your computations.
McGregor Company uses the periodic inventory method and has the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 100 $4 $400 1/20 Purchase 500 $5 $2,500 7/25 Purchase 100 $7 $ 700 10/20 Purchase 300 $8 $2,400 1,000 $6,000 A physical count of inventory on December 31 revealed that there were 325 units on hand. 1. Assume that the company uses the FIFO method. What cost of inventory would they report on December 31? 2. Assume...
MC MR 3. (14 points) Hogwallop Company uses the periodic inventory method and had the following inventory information will Unit Cost 1/1 Beginning Inventory Total Cost 150 $ 600 1/20 Purchase 2.400 7/25 Purchase 10/20 Purchase Units 400 200 310 1,060 1.400 2.480 $6,880 A physical count of inventory on December 31 revealed that there were 380 units on hand. Instructions Answer the following independent questions and show computations supporting your answers. 1. Assume that the company uses the FIFO...
Exercise 239 Grother Company uses the periodic inventory method and had the following inventory information available: Unit Cost 1/1 1/20 7/25 10/20 Beginning Inventory Purchase Purchase Purchase Units 100 500 100 300 1,000 Total Cost $400 2,500 700 2,400 $6,000 $8 A physical count of inventory on December 31 revealed that there were 350 units on hand. Answer the following independent questions. 1. Assume that the company uses the FIFO method. The value of the ending inventory at December 31...
3.) Shamrock Company uses the periodic inventory method and had the following information available: (20 points) Units Unit Cost 1/1 Beginning Inventory 100 $4 1/20 Purchase 7/25 Purchase 200 10/20 Purchase 300 400 A physical count of inventory on 12/31 revealed there were 400 units on hand. Complete the following: COST OF GOODS AVAILABLE FOR SALE Date Explanation Units Unit Cost Total Cost / / / 1 / / II / 17 / / / / LION FIFO: / /...
Bramble Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 124 $496 1/20 620 3 Purchase Purchase $ 5 $ 7 ,100 868 7/25 124 10/20 Purchase 372 2,976 1,240 $7,440 A physical count of inventory on December 31 revealed that there were 434 units on hand. Answer the following independent questions. (Round average cost per unit to 2 decimal places, e.g. 5.25 and final answers to 0...
Pina Colada Company uses the periodic inventory method and had the following inventory information available: Units 1/1 Beginning Inventory 95 1/20 Purchase Purchase Purchase Unit Cost $3 $4 $5 $ 8 495 95 285 7/25 10/20 Total Cost $285 1.980 475 2 ,280 970 $5,020 A physical count of inventory on December 31 revealed that there were 375 units on hand. Answer the following independent questions. (Round average cost per unit to 2 decimal places, eg. 5.25 and final answers...
Question 4 View Policies Current Attempt in Progress Whispering Winds Company uses the periodic inventory method and had the following inventory Information available Units 1/1 118 Beginning Inventory Purchase Unit Cost $4 $5 Total Cost $472 2,950 590 1/20 7/25 10/20 Purchase 118 826 Purchase 354 1,180 2,832 $7,080 A physical count of inventory on December 31 revealed that there were 413 units on hand. Answer the following independent questions. (Round average cost per unit to 2 decimal places, e.g....
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