Homework Answers
| FIFO method | |||
| ending inventory (29-24)*55 = 275 | |||
| cost of goods sold (1567-275) = 1292 |
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During 2021, a company sells 24 units of inventory. The company has the following inventory purchase...
During 2021, a company sells 21 units of inventory. The company has the following inventory purchase...
During 2021, a company sells 21 units of inventory. The company has the following inventory purchase transactions for 2021 Number Unit Total Date Jan. 1 Beginning inventory Sep. 8 Purchase Transaction of Units Cost $54 Cost 14 $ 756 840 $1,596 15 56 29 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO Ending inventory Cost of goods sold Next> < Prev 20 of 40 to search DELL
24 During 2021, a company sells 340 units of inventory for $85 each. The company has...
24 During 2021, a company sells 340 units of inventory for $85 each. The company has the following inventory purchase transactions for 2021 Unit Cost $66 Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 66 170 186 422 8 points Total cost $ 4,356 11,390 12,834 $28,580 69 02:13:19 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory Cost of goods sold
During 2021, a company sells 20 units of inventory. The company has the following inventory purchase...
During 2021, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2021 Date Transaction Jan. 1 Beginning inventory Sep.8 Purchase Number of Units 15 10 25 Unit Cost Total Cost $50 $ 750 94 $1,690 940 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses the weighted average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Ending...
During 2021, a company sells 25 units of inventory. The company has the following inventory purchase...
During 2021, a company sells 25 units of inventory. The company has the following inventory purchase transactions for 2021 Date Transaction Jan.1 Beginning inventory Sep.8 Purchase Number Unit of Units Cost 20 $50 Total Cost $1,000 700 $1,700 70 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses the weighted average cost method. (Round weighted average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Ending inventory Cost of...
6) During 2021, a company sells 400 units of inventory for $85 each. The company has...
6) During 2021, a company sells 400 units of inventory for $85 each. The company has the following inventory purchase transactions for 2021: Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units Unit Cost Total Cost 60 S70 S4.200 1801 721 12.960 1901 7 51 14.250 430 $31.410 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO Calculate ending inventory and cost of goods sold for 2021 assuming...
During 2021, a company sells 160 units of inventory for $53 each. The company has the following inventory purchase trans...
During 2021, a company sells 160 units of inventory for $53 each. The company has the following inventory purchase transactions for 2021: Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 58 $ 43 $ 2,494 May 5 Purchase 104 42 4,368 Nov. 3 Purchase 75 41 3,075 237 $ 9,937 Actual sales by the company include its entire beginning inventory, 84 units of inventory from the May 5 purchase, and 18 units from the November...
During 2021, a company sells 160 units of inventory for $55 each. The company has the...
During 2021, a company sells 160 units of inventory for $55 each. The company has the following inventory purchase transactions for 2021: Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 58 $ 40 $ 2,320 May 5 Purchase 107 39 4,173 Nov. 3 Purchase 75 38 2,850 240 $ 9,343 Actual sales by the company include its entire beginning inventory, 87 units of inventory from the May 5 purchase, and 15 units from the November...
1a. During 2021, a company sells 270 units of inventory for $94 each. The company has...
1a. During 2021, a company sells 270 units of inventory for $94 each. The company has the following inventory purchase transactions for 2021: Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 65 $ 67 $ 4,355 May 5 Purchase 164 68 11,152 Nov. 3 Purchase 186 70 13,020 415 $ 28,527 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. 1b. A company overstated its ending inventory balance by...
TB EX Qu. 6-206 During 2021, a company sells... During 2021, a company sells 300 units...
TB EX Qu. 6-206 During 2021, a company sells... During 2021, a company sells 300 units of inventory for $92 each. The company has the following inventory purchase transactions for 2021 Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 66 169 100 415 Unit Cost 564 65 67 Total Cost $ 4,224 10,985 12,060 $27,269 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory Cost...
22 During 2021, a company sells 356 units of inventory for $88 each. The company has...
22 During 2021, a company sells 356 units of inventory for $88 each. The company has the following inventory purchase transactions for 2021 Number Unit Date Transaction of Units Cost Total Cost Jan. 1 Beginning inventory 63 566 May 5 Purchase 161 es 10,948 Nov.) Purchase 180 71 12,700 M 8 DO 2224 Calculate ending Inventory and cost of goods sold for 2021 assuming the company uses UFO Ending inventory Cost of goods sold
During 2021, a company sells 21 units of inventory. The company has the following inventory purchase transactions for 2021 Number Unit Total Date Jan. 1 Beginning inventory Sep. 8 Purchase Transaction of Units Cost $54 Cost 14 $ 756 840 $1,596 15 56 29 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO Ending inventory Cost of goods sold Next> < Prev 20 of 40 to search DELL
24 During 2021, a company sells 340 units of inventory for $85 each. The company has the following inventory purchase transactions for 2021 Unit Cost $66 Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 66 170 186 422 8 points Total cost $ 4,356 11,390 12,834 $28,580 69 02:13:19 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory Cost of goods sold
During 2021, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2021 Date Transaction Jan. 1 Beginning inventory Sep.8 Purchase Number of Units 15 10 25 Unit Cost Total Cost $50 $ 750 94 $1,690 940 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses the weighted average cost method. (Round weighted-average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Ending...
During 2021, a company sells 25 units of inventory. The company has the following inventory purchase transactions for 2021 Date Transaction Jan.1 Beginning inventory Sep.8 Purchase Number Unit of Units Cost 20 $50 Total Cost $1,000 700 $1,700 70 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses the weighted average cost method. (Round weighted average unit cost to 4 decimal places. Round your final answers to the nearest dollar amount.) Ending inventory Cost of...
6) During 2021, a company sells 400 units of inventory for $85 each. The company has the following inventory purchase transactions for 2021: Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units Unit Cost Total Cost 60 S70 S4.200 1801 721 12.960 1901 7 51 14.250 430 $31.410 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO Calculate ending inventory and cost of goods sold for 2021 assuming...
TB EX Qu. 6-206 During 2021, a company sells... During 2021, a company sells 300 units of inventory for $92 each. The company has the following inventory purchase transactions for 2021 Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 66 169 100 415 Unit Cost 564 65 67 Total Cost $ 4,224 10,985 12,060 $27,269 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory Cost...
22 During 2021, a company sells 356 units of inventory for $88 each. The company has the following inventory purchase transactions for 2021 Number Unit Date Transaction of Units Cost Total Cost Jan. 1 Beginning inventory 63 566 May 5 Purchase 161 es 10,948 Nov.) Purchase 180 71 12,700 M 8 DO 2224 Calculate ending Inventory and cost of goods sold for 2021 assuming the company uses UFO Ending inventory Cost of goods sold
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