Cost of Goods available for sale | 14,850 |
Ending inventory (400*7)+(550*8)+(110*9) |
8190 |
Cost of Goods Sold (14,850 - 8190) |
6660 |
Required information M7-11 to 13 Calculating Cost of Goods Available for Sale, Cost of Goods Sold,...
Required information M7-11 to 13 Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] [The following information applies to the questions displayed below.) In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 400 units at $7 on January 1, (2) 550 units at $8 on January 8, and (3) 850 units at...
Required information M7-20 to 22 (Supplement 7A) Calculating Cost of Goods Sold and Ending Inventory under Perpetual FIFO, LIFO, and Weighted Average Cost [LO 7-S1] In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $4 on January 1, (2) 450 units at $7 on January 8, and (3) 950 units at $8 on January 29. Assuming 1,100 units are on hand at the end...
Required information M7-20 to 22 (Supplement 7A) Calculating Cost of Goods Sold and Ending Inventory under Perpetual FIFO, LIFO, and Weighted Average Cost [LO 7-S1] In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $4 on January 1, (2) 450 units at $7 on January 8, and (3) 950 units at $8 on January 29. Assuming 1,100 units are on hand at the end...
Required information M7-20 to 22 (Supplement 7A) Calculating Cost of Goods Sold and Ending Inventory under Perpetual FIFO, LIFO, and Weighted Average Cost [LO 7-S1) In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $4 on January 1, (2) 450 units at $7 on January 8, and (3) 950 units at $8 on January 29. Assuming 1,100 units are on hand at the end...
Part 1 of 3 Required information M711 to 13 Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic FIFO, LIFO, and Weighted Average Cost (LO 7-3] The following information applies to the questions displayed below) points In its first month of operations, Literacy for the literate opened a new bookstore and bought merchandise in the following order: (1) 340 units at $9 on January 1, (2) 630 units at $10 on January 8,...
M7-10 Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under FIFO, LIFO, and Weighted Average Cost (Periodic Inventory) (LO 7-3] Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic inventory system. The following are the transactions for the month of July. Unit Cost $20 July 1 July 5 July 13 July...
Required Information [The following Information applies to the questions displayed below.) In its first month of operations, Literacy for the illiterate opened a new bookstore and bought merchandise in the following order: (1) 320 units at $6 on January 1, 2) 540 units at $7 on January 8, and (3) 840 units at $9 on January 29. Assume 1,035 units are on hand at the end of the month, calculate the cost of goods available for sale, ending Inventory, and...
Required information [The following information applies to the questions displayed below.) In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 260 units at $9 on January 1, (2) 520 units at $10 on January 8, and (3) 820 units at $11 on January 29. Assume 1,000 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and...
Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic LIFOLIFO (Periodic)
In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 200 units at $7 on January 1, (2) 500 units at $8 on January 8, and (3) 800 units at $9 on January 29. Assume 975 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of goods sold under the LIFO. Assume a periodic inventory...