Homework Answers
Average cost per unit = (107*166 + 68*101) / (107+68) = $140.74 per unit
Cost of goods sold for October = 55*140.74 = $7741
Option b. is correct answer.
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The following transactions took place in October for Roland Corporation. The opening inventory was 107 units...
The following transactions took place in October for Roland Corporation. The opening inventory was zero October...
The following transactions took place in October for Roland Corporation. The opening inventory was zero October 5th October 7th October 8th purchased 50 units for $145 each purchased 172 units for $97 each sold 82 units Under a periodic weighted average system, what is the cost of goods sold for October? Select one: o a. $10354.00 b. $8840.49 c. $11890.00 od. $7954.00 Check
Please show all steps so I can fully understand how to solve. Thank you The following transactions took place in Oct...
Please show all steps so I can fully understand how to
solve. Thank you
The following transactions took place in October for Roland Corporation. The opening inventory was 103 units purchased for $179 each. October 5th October 7th sold 40 units purchased 67 units for $74 each Under a perpetual weighted average system, what is the cost of goods sold for October? Select one ca. $7160 0b. $2960 oc. $18437 d. $5505 Check
Itco uses a perpetual inventory system. During the month of October the following transactions took place:...
Itco uses a perpetual inventory system. During the month of October the following transactions took place: 10/1 10/5 10/10 10/12 10/15 10/22 Balance: 2,000 uts. @ $5.00/ut Purchased: 5,000 uts. @ $5.25/ut Purchased: 8,000 uts. @ $5.50/ut Sold 12,000 uts. for $10.00 ea. Purchased: 4,000 uts. @ $5.75/ut Sold 5,000 uts. for $10.00 ea. Required: NOTE: YOU MAY USE A SPREAD SHEET RATHER THAN THE RECORD PROVIDED. ở Complete the perpetual inventory record (provided) for the above transactions using FIFO...
2. During May, the following changes in inventory took place: SHOW ALL CALCULATIONS 1,100 units @...
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The following inventory transactions took place for Crane Corporation for the month of May:
The following inventory transactions took place for Crane Corporation for the month of May:Calculate the ending inventory balance for Crane Corporation, assuming the company uses a perpetual inventory system and the first-in, first-out (FIFO) cost formula.
(10 points) During June, the following changes in inventory item 28 took place: 5,000 units @...
(10 points) During June, the following changes in inventory item 28 took place: 5,000 units @ S21 1,500 units @ $45 2,000 units @ $50 1,000 units @ $25 1,000 units @ $22 3,000 units @ $52 Balance 8 Sold 10 Sold 14 Purchased 24 Purchased June 1 29 Sold Perpetual inventories are maintained. (6 points) What is the cost of the ending inventory and cost of goods sold for item 27 under LIFO and under FIFO? a. (4 points)...
ABBA uses the perpetual inventory system. The following transactions took place in January 2015. (30 marks,5...
ABBA uses the perpetual inventory system. The following transactions took place in January 2015. (30 marks,5 marks each ) Units Selling Price/ Date Unit Cost Jan. 1 unit Units Selling Price/ Date Unit Cost Opening Inventory 2,000 $0.50 5 Sale #1 1,200 5.00 6 Purchase #1 1,000 2.00 10 Purchase #2 500 1.00 16 Sale #2 2,000 6.00 21 Purchase #3 1,000 2.50 Assume all sales are made on account。 Required: 1. Assume ABBA uses the FIFO inventory cost flow assumption a. Record the...
Assume BLM, Inc., began October with 95 units of Inventory that cost a total of $1,710....
Assume BLM, Inc., began October with 95 units of Inventory that cost a total of $1,710. During October, BLM, Ino, purchased and sold goods as follows: i (Click the icon to view the transactions.) BLM, Inc., unes perpetual inventory. Under the average cost inventory method, how much is BLM's cost of goods sold for the sale on October 167 Round unit cost to the nearest cont. O A. $1,990.00 O B. $2,441.80 OC. $1,934.30 OD. $2,465.00 of $1,710. During October,...
Assume ShoeFanatic.com began October with 14 units of inventory that cost a total of $210. During...
Assume ShoeFanatic.com began October with 14 units of inventory that cost a total of $210. During October, ShoeFanatic.com purchased and sold goods as follows: Oct. 8 Purchase 42 units @ $16 14 Sale 35 units @ $32 22 Purchase 28 units @ $18 27 Sale 42 units @ $32 Suppose ShoeFanatic.com used the weighted average inventory costing method and the perpetual inventory system. Compute the weighted average unit cost of the company's inventory on hand at October 8. Round weighted...
During June, the following changes in inventory item 27 took place: June 1 Balance 1,400 units@£24...
During June, the following changes in inventory item 27 took place: June 1 Balance 1,400 units@£24 14 Purchased 900 units@£36 24 Purchased 700 units@E30 8 Sold 400 units@E50 1,000 units@E40 500 units@E44 10 Sold 29 Sald Perpetual inventories are maintained in units only Instructions What is the cost of the ending inventory for item 27 under the following methods? (Show calculations.) (a) FIFO (b) Average Cost
The following transactions took place in October for Roland Corporation. The opening inventory was zero October 5th October 7th October 8th purchased 50 units for $145 each purchased 172 units for $97 each sold 82 units Under a periodic weighted average system, what is the cost of goods sold for October? Select one: o a. $10354.00 b. $8840.49 c. $11890.00 od. $7954.00 Check
Please show all steps so I can fully understand how to
solve. Thank you
The following transactions took place in October for Roland Corporation. The opening inventory was 103 units purchased for $179 each. October 5th October 7th sold 40 units purchased 67 units for $74 each Under a perpetual weighted average system, what is the cost of goods sold for October? Select one ca. $7160 0b. $2960 oc. $18437 d. $5505 Check
Itco uses a perpetual inventory system. During the month of October the following transactions took place: 10/1 10/5 10/10 10/12 10/15 10/22 Balance: 2,000 uts. @ $5.00/ut Purchased: 5,000 uts. @ $5.25/ut Purchased: 8,000 uts. @ $5.50/ut Sold 12,000 uts. for $10.00 ea. Purchased: 4,000 uts. @ $5.75/ut Sold 5,000 uts. for $10.00 ea. Required: NOTE: YOU MAY USE A SPREAD SHEET RATHER THAN THE RECORD PROVIDED. ở Complete the perpetual inventory record (provided) for the above transactions using FIFO...
2. During May, the following changes in inventory took place: SHOW ALL CALCULATIONS 1,100 units @ S25 S2 7,500 800 units@$3628,800 24 Purchases 700 units@$30 21,000 May 1 Balance 14 Purchases May 8 Sold 19 Sold 29 Sold 500 units@$50 300 units @ $49 600 units@ $54 A physical count indicates that 1,200 units are on hand on May 31. The company uses the PERPETUAL method. umin a. (1). LIFO (2). FIFO b. What is the moving average cost per...
(10 points) During June, the following changes in inventory item 28 took place: 5,000 units @ S21 1,500 units @ $45 2,000 units @ $50 1,000 units @ $25 1,000 units @ $22 3,000 units @ $52 Balance 8 Sold 10 Sold 14 Purchased 24 Purchased June 1 29 Sold Perpetual inventories are maintained. (6 points) What is the cost of the ending inventory and cost of goods sold for item 27 under LIFO and under FIFO? a. (4 points)...
Assume BLM, Inc., began October with 95 units of Inventory that cost a total of $1,710. During October, BLM, Ino, purchased and sold goods as follows: i (Click the icon to view the transactions.) BLM, Inc., unes perpetual inventory. Under the average cost inventory method, how much is BLM's cost of goods sold for the sale on October 167 Round unit cost to the nearest cont. O A. $1,990.00 O B. $2,441.80 OC. $1,934.30 OD. $2,465.00 of $1,710. During October,...
Assume ShoeFanatic.com began October with 14 units of inventory that cost a total of $210. During October, ShoeFanatic.com purchased and sold goods as follows: Oct. 8 Purchase 42 units @ $16 14 Sale 35 units @ $32 22 Purchase 28 units @ $18 27 Sale 42 units @ $32 Suppose ShoeFanatic.com used the weighted average inventory costing method and the perpetual inventory system. Compute the weighted average unit cost of the company's inventory on hand at October 8. Round weighted...
During June, the following changes in inventory item 27 took place: June 1 Balance 1,400 units@£24 14 Purchased 900 units@£36 24 Purchased 700 units@E30 8 Sold 400 units@E50 1,000 units@E40 500 units@E44 10 Sold 29 Sald Perpetual inventories are maintained in units only Instructions What is the cost of the ending inventory for item 27 under the following methods? (Show calculations.) (a) FIFO (b) Average Cost
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