need help with this problem - thank you
Homework Answers
Answer : C. $2400
Calculated as
Out of 210 unit left 120 will be from Jan 10 purchases and 90 from Jan 22 purchases
| Ending Inventory Valuation using FIFO | |||||
| Units left from purchases on | Units | Rate | Total | ||
| 10-Jan | 120 | x | 11 | = | 1320 |
| 22-Jan | 90 | x | 12 | = | 1080 |
| Total | 210 | $ 2,400 | |||
Hit Thumbs up if satisfied
For any query mention in comment section please
Thank you
Add Answer to:
need help with this problem - thank you
Tomasino's inventory records show the following data at...
Tomasino's inventory records show the following data at January 31 Beginning inventory Jan. 1 Jan. 10...
Tomasino's inventory records show the following data at January 31 Beginning inventory Jan. 1 Jan. 10 purchase Jan 22 purchase 90 units at $9 per unit 270 units at $12 per unit 110 units at $13 per unit At January 31, 200 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $2,130 OB. $1,800 O C. 52,510 OD. $1,980
Thelen's inventory records show the following data at January 31 Beginning inventory Jan. 1 Jan. 10...
Thelen's inventory records show the following data at January 31 Beginning inventory Jan. 1 Jan. 10 purchase Jan 22 purchase 90 units at $9 per unit 280 units at $12 per unit 90 units at $13 per unit At January 31, 240 units are still on hand. What is the cost of the ending inventory at January 31 if Thelen uses the LIFO method? OA. 52,160 OB. 52,610 OC. $2,760 OD. 53,120
Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 110 units...
Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 110 units at $7 per unit Jan. 10 purchase 330 units at $11 per unit Jan. 22 purchase 120 units at $12 per unit At January 31, 240240 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method?
Thelen's inventory records show the following data at January 31: Beginning inventory Jan. 1 100 units...
Thelen's inventory records show the following data at January 31: Beginning inventory Jan. 1 100 units at $8 per unit Jan. 10 purchase 320 units at $13 per unit Jan. 22 purchase 120 units at $14 per unit At January 31, 230 units are still on hand. What is the cost of the ending inventory at January 31 if Thelen uses the LIFO method?
Thelen's inventory records show the following data at January 31: Beginning inventory Jan. 1 8080 units...
Thelen's inventory records show the following data at January 31: Beginning inventory Jan. 1 8080 units at $ 6$6 per unit Jan. 10 purchase 290290 units at $ 13$13 per unit Jan. 22 purchase 110110 units at $ 14$14 per unit At January 31, 230230 units are still on hand. What is the cost of the ending inventory at January 31 if Thelen uses the LIFO method?
This Question: 4 pts 8 of 8 (6 complete) This Quiz: 30 pts possi Thelen's inventory...
This Question: 4 pts 8 of 8 (6 complete) This Quiz: 30 pts possi Thelen's inventory records show the following data at January 31: Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 9 0 units at $5 per unit 270 units at $13 per unit 100 units at $14 per unit At January 31, 230 units are still on hand. What is the cost of the ending inventory at January 31 if Thelen uses the LIFO method? O...
Dundas Company's inventory records for its retail division show the following at January 31: E: (Click...
Dundas Company's inventory records for its retail division show the following at January 31: E: (Click the icon to view the accounting records.) At January 31, 11 of these units are on hand. Read the requirements. Requirement 1. Compute cost of goods sold and ending inventory, using each of the following four inventory methods: Begin by entering the number of units sold and number of units in ending inventory. Then calculate cost of goods sold and ending inventory using (a)...
Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following Jan...
Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following Jan 1 Beginning inventory 2,200 units @ $ 6.10 Jan 12 Purchase 2,300 units @ $ 5.90 Jan 18 Sales 2,400 units @ $ 7.60 Jan 21 Purchase 2,200 units @ $ 6.20 Jan 25 Purchase 2,000 units @ $ 6.00 Jan 31 Sales 2,350 units @ $ 7.60 Assuming Chase uses a FIFO cost flow method, the ending inventory on January 31 is: Multiple...
1. The selling price of a television is $ 1100 and the cost to the retailer...
1. The selling price of a television is $ 1100 and the cost to the retailer is $225. What is the retailer's gross profit from the sale of the television? A) $1100 B) $875 C) $0 D) $225 2. A company has a beginning inventory of $ 60,000 and purchases during the year of $ 120,000. The beginning inventory consisted of 2,000 units and 9,000 units were purchased during the year. The company has 5,000 units left at year end....
RonRon Company's inventory records for its retail division show the following at July 31: At July...
RonRon Company's inventory records for its retail division show
the following at July 31:
At July 31, 11 of these units are on hand.
Ron Company's inventory records for its retail division show the following at July 31: E (Click the icon to view the accounting records.) At July 31, 11 of these units are on hand. Read the requirements. Requirement 1. Compute cost of goods sold and ending inventory, using each of the following four inventory methods: Begin by...
Tomasino's inventory records show the following data at January 31 Beginning inventory Jan. 1 Jan. 10 purchase Jan 22 purchase 90 units at $9 per unit 270 units at $12 per unit 110 units at $13 per unit At January 31, 200 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $2,130 OB. $1,800 O C. 52,510 OD. $1,980
Thelen's inventory records show the following data at January 31 Beginning inventory Jan. 1 Jan. 10 purchase Jan 22 purchase 90 units at $9 per unit 280 units at $12 per unit 90 units at $13 per unit At January 31, 240 units are still on hand. What is the cost of the ending inventory at January 31 if Thelen uses the LIFO method? OA. 52,160 OB. 52,610 OC. $2,760 OD. 53,120
This Question: 4 pts 8 of 8 (6 complete) This Quiz: 30 pts possi Thelen's inventory records show the following data at January 31: Beginning inventory Jan. 1 Jan. 10 purchase Jan. 22 purchase 9 0 units at $5 per unit 270 units at $13 per unit 100 units at $14 per unit At January 31, 230 units are still on hand. What is the cost of the ending inventory at January 31 if Thelen uses the LIFO method? O...
Dundas Company's inventory records for its retail division show the following at January 31: E: (Click the icon to view the accounting records.) At January 31, 11 of these units are on hand. Read the requirements. Requirement 1. Compute cost of goods sold and ending inventory, using each of the following four inventory methods: Begin by entering the number of units sold and number of units in ending inventory. Then calculate cost of goods sold and ending inventory using (a)...
RonRon Company's inventory records for its retail division show
the following at July 31:
At July 31, 11 of these units are on hand.
Ron Company's inventory records for its retail division show the following at July 31: E (Click the icon to view the accounting records.) At July 31, 11 of these units are on hand. Read the requirements. Requirement 1. Compute cost of goods sold and ending inventory, using each of the following four inventory methods: Begin by...
Most questions answered within 3 hours.
-
Rod figures that it takes an average (mean) of =20 minutes with
a standard deviation of...
asked 19 seconds from now -
You have 5 ul of a pure (undiluted) culture at a concentration
of 3.6 x 106...
asked 4 minutes ago -
______ activity indicates the presence of an electron transport
chain.
1- gelatinase 2- oxidase 3- caseinase...
asked 6 minutes ago -
The molarity of a silver nitrate solution is 0.192 M. How many
grams of silver ions...
asked 19 minutes ago -
Which of the following solutes will produce a greater increase
in boiling point when it is...
asked 15 minutes ago -
true or false: Series connected electrical circuit is a voltage
divider, and voltage of each device...
asked 10 minutes ago -
A 100-W lightbulb has a resistance of about 12 Ω when cold (20
∘C) and 128...
asked 14 minutes ago -
For the asset shown in the following table, use the capital
asset pricing model to find...
asked 15 minutes ago -
If the impulse response of a circuit is a pulse y(t) = u(t) –
u(t-T), T...
asked 22 minutes ago -
Eukaryotic cells have __ which is similar to prokaryotes of
Archaea.
A Ester-linked membrane lipids
B...
asked 31 minutes ago -
true or false. If work is done on a system by it's
surroundings, its value is...
asked 35 minutes ago -
Rene Descartes establishes a dualist approach to the world.
Explain this dualism, and how it connects...
asked 42 minutes ago