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The inventory records Units tory records of Beta showed the following transactions for one item of inventory Unit Cost Transaction $19 1. Opening inventory 2. Purchase 3. Sale (@$30/unit) $21 4. Purchase 5. Sale (@$32/unit) $20 $22 6. Purchase tity was left in inventory after the above transactions occurred? 1. What quantity was left in in was total sales revenue based on the above transactions 2. What was total sales revenue bas 3. Complete the following table Method COGS ($)...
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Please answer the following question TOTAL 5
Problem 8-5 Various inventory costing methods [LO8-1, 8-4] Ferris Company began 2018 with 9,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January 2018 are as follows: Units Purchases Date of Purchase Unit Cost Jan. 10 6,000 $ 9 Jan. 18 9.000 Totals 15,000 *Includes purchase price and cost of freight. 10 Total Cost $ 54,000 90,000 144,000 Sales Date of Sale Jan....
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The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019: Number of Units 150 70 (100) Unit Cost $ 30 Total Cost $ 4,500 2,240 32 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale 3,420 4,900 140 (100) 50 (100) 1,800 Required: a. Assume that Kuffel Co. uses a periodic inventory system. Calculate cost of goods sold and ending inventory under FIFO...
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The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019 Unit Cost $33 33 Total Cost 4,950 2,319 Date 1/1 1/24 2/22 377 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number of Units 150 70 (100) 99 140 (109) 37 3.330 4,909 Se 37 1,850 (100) Required: .. Assume that Kuffel Co. uses a periodic inventory system. Calculate cost of goods sold and ending inventory under...
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Solve Part a and b please
The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019: Unit Cost Total Cost $ 4,500 2,450 $ 30 35 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number of Units 150 70 (100) 90 140 (100) 50 (100) 36 37 3,240 5,180 39 1,950 Required: a. Assume that Kuffel Co. uses a periodic inventory system....
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The inventory records of Kuffel Co. reflected the following
information for the year ended December 31, 2019:
The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019: Unit Cost $ 30 32 Total Cost $ 4,500 2,240 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number of Units 150 70 (100) 90 140 (100) 50 (100) 38 37 - 36 3,420 5,...
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Montoure Company uses a perpetual Inventory system. It entered into the following calendar-year purchases and sales transactions Units sold at Retail Unite Aequired at Cost 680 units 540 per unit 320 units @ $35 per unit 100 units $23 per unit Date Activities Jan. Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 720 unitse $75 per unit 130 units 490 units $45 per unit $41 per unit...
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INVENTORY ITEM 621AB UNITS DATE COST Beginning Inventory $6 $7 Jan 1 120 Purchase 200 Jan 7 Sale Jan 10 250 Purchase $8 Jan 15 300 Jan 17 Purchase $9 200 Sale 325 Jan 20 Sale Jan 25 100 Jan 28 Purchase $10 175 Smith Corporation uses a perpetual inventory system. Determine the costs assigned to Cost of Goods Sold and Ending Inventory using both FIFO and LIFO methods. DATE ITEM RED16 UNITS COST Beginning Inventory $10 Jan 1 100...
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The inventory records of Kuffel Co. reflected the following
information for the year ended December 31, 2016:
The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2016: Unit Cost $ 29 32 Total Cost $ 4,350 2,240 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number of Units 150 70 (100) 90 140 (100) 50 (100) 35 40 3,150 5,600 35 1,750...
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Monty Inc. is a retailer operating in Centralia. Monty uses the
perpetual inventory method. All sales returns from customers result
in the goods being returned to inventory. (Assume that the
inventory is not damaged.) Assume that there are no credit
transactions; all amounts are settled in cash. You are provided
with the following information for Monty Inc. for the month of
January 2017.
Date
Description
Quantity
Unit Cost or
Selling Price
Dec. 31
Ending inventory
168
$14
Jan. 2
Purchase...
The inventory records Units tory records of Beta showed the following transactions for one item of inventory Unit Cost Transaction $19 1. Opening inventory 2. Purchase 3. Sale (@$30/unit) $21 4. Purchase 5. Sale (@$32/unit) $20 $22 6. Purchase tity was left in inventory after the above transactions occurred? 1. What quantity was left in in was total sales revenue based on the above transactions 2. What was total sales revenue bas 3. Complete the following table Method COGS ($)...
Please answer the following question TOTAL 5
Problem 8-5 Various inventory costing methods [LO8-1, 8-4] Ferris Company began 2018 with 9,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January 2018 are as follows: Units Purchases Date of Purchase Unit Cost Jan. 10 6,000 $ 9 Jan. 18 9.000 Totals 15,000 *Includes purchase price and cost of freight. 10 Total Cost $ 54,000 90,000 144,000 Sales Date of Sale Jan....
The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019: Number of Units 150 70 (100) Unit Cost $ 30 Total Cost $ 4,500 2,240 32 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale 3,420 4,900 140 (100) 50 (100) 1,800 Required: a. Assume that Kuffel Co. uses a periodic inventory system. Calculate cost of goods sold and ending inventory under FIFO...
The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019 Unit Cost $33 33 Total Cost 4,950 2,319 Date 1/1 1/24 2/22 377 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number of Units 150 70 (100) 99 140 (109) 37 3.330 4,909 Se 37 1,850 (100) Required: .. Assume that Kuffel Co. uses a periodic inventory system. Calculate cost of goods sold and ending inventory under...
Solve Part a and b please
The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019: Unit Cost Total Cost $ 4,500 2,450 $ 30 35 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number of Units 150 70 (100) 90 140 (100) 50 (100) 36 37 3,240 5,180 39 1,950 Required: a. Assume that Kuffel Co. uses a periodic inventory system....
The inventory records of Kuffel Co. reflected the following
information for the year ended December 31, 2019:
The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019: Unit Cost $ 30 32 Total Cost $ 4,500 2,240 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number of Units 150 70 (100) 90 140 (100) 50 (100) 38 37 - 36 3,420 5,...
Montoure Company uses a perpetual Inventory system. It entered into the following calendar-year purchases and sales transactions Units sold at Retail Unite Aequired at Cost 680 units 540 per unit 320 units @ $35 per unit 100 units $23 per unit Date Activities Jan. Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 720 unitse $75 per unit 130 units 490 units $45 per unit $41 per unit...
INVENTORY ITEM 621AB UNITS DATE COST Beginning Inventory $6 $7 Jan 1 120 Purchase 200 Jan 7 Sale Jan 10 250 Purchase $8 Jan 15 300 Jan 17 Purchase $9 200 Sale 325 Jan 20 Sale Jan 25 100 Jan 28 Purchase $10 175 Smith Corporation uses a perpetual inventory system. Determine the costs assigned to Cost of Goods Sold and Ending Inventory using both FIFO and LIFO methods. DATE ITEM RED16 UNITS COST Beginning Inventory $10 Jan 1 100...
The inventory records of Kuffel Co. reflected the following
information for the year ended December 31, 2016:
The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2016: Unit Cost $ 29 32 Total Cost $ 4,350 2,240 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number of Units 150 70 (100) 90 140 (100) 50 (100) 35 40 3,150 5,600 35 1,750...
Monty Inc. is a retailer operating in Centralia. Monty uses the
perpetual inventory method. All sales returns from customers result
in the goods being returned to inventory. (Assume that the
inventory is not damaged.) Assume that there are no credit
transactions; all amounts are settled in cash. You are provided
with the following information for Monty Inc. for the month of
January 2017.
Date
Description
Quantity
Unit Cost or
Selling Price
Dec. 31
Ending inventory
168
$14
Jan. 2
Purchase...