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Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the periodic inventory system. The following schedule relates to the company's inventory for the month of May: Cost Sales $54,000 $46,800 May 1 5 9 13 Beginning inventory Sale Purchase Purchase Sale Sale Purchase 90 units 60 units 30 units 120 units 120 units 30 units 45 units $19,800 $86,400 24 $100,800 $28,800 27 30 $35,640 (al) Calculate Saddlery Company's cost of goods sold, gross margin, and ending...
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The last part of the question gives me option of : FIFO or
Weight-Average
Application Problem 7-2B al-a2, b (Part Level Submission) Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the perpetual inventory system. The following schedule relates to the company's inventory for the month of May: Sales Cost $60,000 $52,000 May 1 5 9 13 24 27 30 Beginning inventory Sale Purchase Purchase Sale Sale Purchase 150 units 100 units 50 units 200 units 200...
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Application Problem 7-3A a-b (Part Level Submission) Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for the month of April: Sales Cost $46,056 27,810 $30,827 April 1 3 5 11 15 22 28 Beginning inventory Purchase Sale Purchase Sale Sale Purchase 76 units 45 units 29 units 28 units 58 units 34 units 51 units 18,340 75,110 40,290 34,578 Soft Touch uses the periodic inventory system. (a) Calculate Soft Touch Company's cost of goods...
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Exercise 6-09 a1,a2, b (Part Level
Submission)
Sheffield Company reports the following for the month of
June.
Units
Unit Cost
Total Cost
June 1
Inventory
210
$8
$ 1,680
12
Purchase
430
9
3,870
23
Purchase
360
10
3,600
30
Inventory
200
(a1)
Your answer is correct.
Calulate Weighted Average Unit Cost. (Round answer to 2
decimal places, e.g. 15.25.)
Weighted Average Unit Cost
$
Click if you would like to
Show Work for this question:
Open Show Work
SHOW...
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Problem 6-08A a1-a2 (Part Level Submission)
Swifty Inc. is a retailer operating in British Columbia. Swifty
uses the perpetual inventory method. All sales returns from
customers result in the goods being returned to inventory; 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 Swifty Inc. for the month of
January 2020.
Problem 6-08A a1-a2 (Part Level Submission) Swifty Inc. is a retailer operating...
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Application Problem 7-6A a-b (Part Level Submission) The following information relates to Glassworks Ltd.'s inventory transactions during the month of July. July 1 4 8 14 22 28 Beginning inventory Purchase Sale Sale Purchase Sale Units Cost/Unit Amount 4,300 $12.00 $51,600 5,700 $13.00 74,100 6,600 1,400 4,690 $12.50 59,094 2,970 All of the units sold were priced at $18 per unit. (a) Glassworks Ltd, uses the perpetual inventory system. Calculate Glassworks' cost of goods sold, gross margin, and ending inventory...
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Problem 6-08A a1-a2 (Part Level Submission)
Bonita Inc. is a retailer operating in British Columbia. Bonita
uses the perpetual inventory method. All sales returns from
customers result in the goods being returned to inventory; 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 Bonita Inc. for the month of
January 2020.
Date
Description
Quantity
Unit Cost or Selling Price
January
1
Beginning inventory...
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Problem 6-05A a1-a3, b (Part Level Submission) (Video)
You are provided with the following information for Larkspur
Inc. for the month ended June 30, 2020. Larkspur uses the periodic
method for inventory.
Date
Description
Quantity
Unit Cost or
Selling Price
June
1
Beginning inventory
45
$42
June
4
Purchase
136
46
June
10
Sale
113
69
June
11
Sale return
15
69
June
18
Purchase
54
48
June
18
Purchase return
12
48
June
25
Sale
68
74
June
28...
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USWeyndt, Accounting Pvinciples, 13e Helo 1 Satem Announcements CAR s Preblem 6-06A a1-a2 (Part Level Submission) You are provided with the folowing information for Vaughn Inc. Vaughn Inc. uses the periadic method of accounting for its inventory transactions March 1 Beginning inventory 2,100 ters at a cost of 60c per Rer March 3 Purchased 2,500 liars at a cost of 624 per lter March 5 Sold 2,300 liters fer $1.05 per iter March 10 Purchased 4,000 lters at a cost...
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Problem 6-06A al-a2 (Part Level Submission) You are provided with the following information for Lily Inc. Lily Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,200 liters at a cost of 80¢ per liter. March 3 Purchased 2,500 liters at a cost of 84¢ per liter. March 5 Sold 2,300 liters for $1.05 per liter. March 10 Purchased 4,000 liters at a cost of 91¢ per liter. March 20 Purchased 2,500 liters at...
Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the periodic inventory system. The following schedule relates to the company's inventory for the month of May: Cost Sales $54,000 $46,800 May 1 5 9 13 Beginning inventory Sale Purchase Purchase Sale Sale Purchase 90 units 60 units 30 units 120 units 120 units 30 units 45 units $19,800 $86,400 24 $100,800 $28,800 27 30 $35,640 (al) Calculate Saddlery Company's cost of goods sold, gross margin, and ending...
The last part of the question gives me option of : FIFO or
Weight-Average
Application Problem 7-2B al-a2, b (Part Level Submission) Saddlery Company sells leather saddles and equipment for horse enthusiasts. Saddlery uses the perpetual inventory system. The following schedule relates to the company's inventory for the month of May: Sales Cost $60,000 $52,000 May 1 5 9 13 24 27 30 Beginning inventory Sale Purchase Purchase Sale Sale Purchase 150 units 100 units 50 units 200 units 200...
Application Problem 7-3A a-b (Part Level Submission) Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for the month of April: Sales Cost $46,056 27,810 $30,827 April 1 3 5 11 15 22 28 Beginning inventory Purchase Sale Purchase Sale Sale Purchase 76 units 45 units 29 units 28 units 58 units 34 units 51 units 18,340 75,110 40,290 34,578 Soft Touch uses the periodic inventory system. (a) Calculate Soft Touch Company's cost of goods...
Exercise 6-09 a1,a2, b (Part Level
Submission)
Sheffield Company reports the following for the month of
June.
Units
Unit Cost
Total Cost
June 1
Inventory
210
$8
$ 1,680
12
Purchase
430
9
3,870
23
Purchase
360
10
3,600
30
Inventory
200
(a1)
Your answer is correct.
Calulate Weighted Average Unit Cost. (Round answer to 2
decimal places, e.g. 15.25.)
Weighted Average Unit Cost
$
Click if you would like to
Show Work for this question:
Open Show Work
SHOW...
Problem 6-08A a1-a2 (Part Level Submission)
Swifty Inc. is a retailer operating in British Columbia. Swifty
uses the perpetual inventory method. All sales returns from
customers result in the goods being returned to inventory; 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 Swifty Inc. for the month of
January 2020.
Problem 6-08A a1-a2 (Part Level Submission) Swifty Inc. is a retailer operating...
Application Problem 7-6A a-b (Part Level Submission) The following information relates to Glassworks Ltd.'s inventory transactions during the month of July. July 1 4 8 14 22 28 Beginning inventory Purchase Sale Sale Purchase Sale Units Cost/Unit Amount 4,300 $12.00 $51,600 5,700 $13.00 74,100 6,600 1,400 4,690 $12.50 59,094 2,970 All of the units sold were priced at $18 per unit. (a) Glassworks Ltd, uses the perpetual inventory system. Calculate Glassworks' cost of goods sold, gross margin, and ending inventory...
Problem 6-08A a1-a2 (Part Level Submission)
Bonita Inc. is a retailer operating in British Columbia. Bonita
uses the perpetual inventory method. All sales returns from
customers result in the goods being returned to inventory; 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 Bonita Inc. for the month of
January 2020.
Date
Description
Quantity
Unit Cost or Selling Price
January
1
Beginning inventory...
USWeyndt, Accounting Pvinciples, 13e Helo 1 Satem Announcements CAR s Preblem 6-06A a1-a2 (Part Level Submission) You are provided with the folowing information for Vaughn Inc. Vaughn Inc. uses the periadic method of accounting for its inventory transactions March 1 Beginning inventory 2,100 ters at a cost of 60c per Rer March 3 Purchased 2,500 liars at a cost of 624 per lter March 5 Sold 2,300 liters fer $1.05 per iter March 10 Purchased 4,000 lters at a cost...
Problem 6-06A al-a2 (Part Level Submission) You are provided with the following information for Lily Inc. Lily Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,200 liters at a cost of 80¢ per liter. March 3 Purchased 2,500 liters at a cost of 84¢ per liter. March 5 Sold 2,300 liters for $1.05 per liter. March 10 Purchased 4,000 liters at a cost of 91¢ per liter. March 20 Purchased 2,500 liters at...