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Part 2 - A company reported the current month purchase and sales data for its only...
Part 1 - A company reported the current month purchase and sales data for its only...
Part 1 - A company reported the current month purchase and sales data for its only product and uses the perpetual inventory system. Determine the cost assigned to ending inventory and cost of goods sold using FIFO. des ned ob razbroorg Date Activities Units Acquired at Cost Units Sold at Retail April 1 Beginning Inventory 175 units @ $15.00 Dont 4 Purchase 150 units @ $16.00 7 Sales 160 units @ $30.00 co 2.0 10 Purchase 200 units @ $17.00...
emming Company reported the following January purchases and sales data for its only product. Date Activities...
emming Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units Sold at Retail an. 1 Beginning inventory 300 units @ $15.00 - $4,500 an. 10 Sales 240 units @ $40.00 $8,800 lar. 14 Purchase 410 units @ $16.00 = 6,560 ar. 15 Sales 290 units @ $40.00 - 11.800 II. 30 Purchase 500 units @ $17.00 = 8,500 440 units @ $40.00 - 17.800 ct. 5 Sales 2.700 t....
Laker Company reported the following January purchases and sales data for its only product. Units sold...
Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail Units Acquired at Cost 165 units@ $9.00 = $1,485 125 units @ $18.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units@ $8.00 = 880 125 units @ $18.00 230 units@ $7.50 = 505 units 1,725 $4,090 250 units The Company uses a perpetual inventory system. For specific identification, ending...
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual...
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 210 units @ $16.00 5 Purchase 250 units @ $18.00 10 Sales 170 units @ $26.00 15 Purchase 130 units @ $19.00 24 Sales 120 units @ $27.00 a.$2,260 b.$3,180 c.$1,860 d.$3,580 e.$2,100
Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic...
Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 220 units @ $17 5 Purchase 255 units @ $19 10 Sales 175 units @ $27 15 Purchase 135 units @ $20 24 Sales 125 units @ $28 Multiple Choice $7,660 $3,780 $6,800 $4,185 $5,450
Laker Company reported the following January purchases and sales data for its only product. Date Activities...
Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 200 units @ $ 12.50 = $ 2,500 Jan. 10 Sales 160 units @ $ 21.50 Jan. 20 Purchase 130 units @ $ 11.50 = 1,495 Jan. 25 Sales 140 units @ $ 21.50 Jan. 30 Purchase 300 units @ $ 11.00 = 3,300 Totals 630 units $ 7,295 300 units The...
Hemming Co. reported the following current-year purchases and sales for its only product.
Hemming Co. reported the following current-year purchases and sales
for its only product. DateActivitiesUnits Acquired at CostUnits Sold at RetailJan.1Beginning inventory300units@ $14.00=$4,200Jan.10Sales250units@ $44.00Mar.14Purchase520units@ $19.00=9,880Mar.15Sales460units@ $44.00July30Purchase500units@ $24.00=12,000Oct.5Sales480units@ $44.00Oct.26Purchase200units@ $29.00=5,800Totals1,520units$31,8801,190unitsRequired:Hemming uses a perpetual inventory system. 1. Determine the costs assigned to ending
inventory and to cost of goods sold using FIFO.2. Determine the costs assigned to ending
inventory and to cost of goods sold using LIFO.3. Compute the gross margin for FIFO method and
LIFO method.
5-Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic...
5-Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail Date Activities May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales Units Acquired at Cost 150 units @ $10.00 220 units @ $12.00 140 units @ $20.00 100 units @ $13.00 90 units @ $21.00
Laker Company reported the following January purchases and sales data for its only product. Date Activities...
Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 150 units @ $ 7.50 = $ 1,125 Jan. 10 Sales 110 units @ $ 16.50 Jan. 20 Purchase 80 units @ $ 6.50 = 520 Jan. 25 Sales 90 units @ $ 16.50 Jan. 30 Purchase 200 units @ $ 6.00 = 1,200 Totals 430 units $ 2,845 200 units The...
Laker Company reported the following January purchases and sales data for its only product. Date Activities...
Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 190 units @ $ 7.00 = $ 1,330 Jan. 10 Sales 150 units @ $ 16.00 Jan. 20 Purchase 110 units @ $ 6.00 = 660 Jan. 25 Sales 130 units @ $ 16.00 Jan. 30 Purchase 280 units @ $ 5.50 = 1,540 Totals 580 units $ 3,530 280 units The...
Part 1 - A company reported the current month purchase and sales data for its only product and uses the perpetual inventory system. Determine the cost assigned to ending inventory and cost of goods sold using FIFO. des ned ob razbroorg Date Activities Units Acquired at Cost Units Sold at Retail April 1 Beginning Inventory 175 units @ $15.00 Dont 4 Purchase 150 units @ $16.00 7 Sales 160 units @ $30.00 co 2.0 10 Purchase 200 units @ $17.00...
emming Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units Sold at Retail an. 1 Beginning inventory 300 units @ $15.00 - $4,500 an. 10 Sales 240 units @ $40.00 $8,800 lar. 14 Purchase 410 units @ $16.00 = 6,560 ar. 15 Sales 290 units @ $40.00 - 11.800 II. 30 Purchase 500 units @ $17.00 = 8,500 440 units @ $40.00 - 17.800 ct. 5 Sales 2.700 t....
Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail Units Acquired at Cost 165 units@ $9.00 = $1,485 125 units @ $18.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 units@ $8.00 = 880 125 units @ $18.00 230 units@ $7.50 = 505 units 1,725 $4,090 250 units The Company uses a perpetual inventory system. For specific identification, ending...
Hemming Co. reported the following current-year purchases and sales
for its only product. DateActivitiesUnits Acquired at CostUnits Sold at RetailJan.1Beginning inventory300units@ $14.00=$4,200Jan.10Sales250units@ $44.00Mar.14Purchase520units@ $19.00=9,880Mar.15Sales460units@ $44.00July30Purchase500units@ $24.00=12,000Oct.5Sales480units@ $44.00Oct.26Purchase200units@ $29.00=5,800Totals1,520units$31,8801,190unitsRequired:Hemming uses a perpetual inventory system. 1. Determine the costs assigned to ending
inventory and to cost of goods sold using FIFO.2. Determine the costs assigned to ending
inventory and to cost of goods sold using LIFO.3. Compute the gross margin for FIFO method and
LIFO method.
5-Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail Date Activities May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales Units Acquired at Cost 150 units @ $10.00 220 units @ $12.00 140 units @ $20.00 100 units @ $13.00 90 units @ $21.00
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