Whispering has the following inventory data:
July 1 | Beginning inventory | 46 units at $110 | ||
5 | Purchases | 276 units at $103 | ||
14 | Sale | 184 units | ||
21 | Purchases | 138 units at $106 | ||
30 | Sale | 129 units |
Assuming that a periodic inventory system is used, what is the cost
of goods sold on a FIFO basis?
$15463 |
$15555 |
$32653 |
$32561 |
Units sold | 313 | =184+129 |
Cost of goods sold : | ||
From Beginning inventory | 5060 | =46*110 |
From July 5 purchases | 27501 | =(313-46)*103 |
Cost of goods sold | 32561 | |
Option D $32561 is correct |
Whispering has the following inventory data: July 1 Beginning inventory 46 units at $110 5 Purchases 276...
Oriole has the following inventory data: July 1 Beginning inventory 5 Purchases 14 Sale 21 Purchases 30 Sale 56 units at $134 336 units at $125 224 units 168 units at $129 157 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis? $22879 $48129 $23047 $48297
Cheyenne has the following inventory data: July 1 Beginning inventory 26 units at $5.30 5 Purchases 106 units at $5.80 14 Sale 70 units 21 Purchases 53 units at $6.30 30 Sale 49 units Assuming that a perpetual inventory system is used, what is the cost of goods sold on a LIFO basis for July? $540.60 $1086.50 $714.70 $371.80
Vaughn has the following inventory data: July 1 Beginning inventory 31 units at $61 5 Purchases 184 units at $57 14 Sale 122 units 21 Purchases 92 units at $59 30 Sale 86 units Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis for July?
• 17. Oscar Industries has the following inventory information July 1 Beginning Inventory 40 units at $110 5 Purchases 240 units at $112 14 Sale 160 units 21 Purchases 120 units at $115 30 Sale 150 units Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a FIFO basis?
16. Oscar Industries has the following inventory information. July 1 Beginning Inventory 40 units at $110 5 Purchases 240 units at $112 14 Sale 160 units 21 Purchases 120 units at $115 30 Sale 150 units Assuming that a periodic inventory system is used, what is the amount allocated to ending inventory on a LIFO basis?
Wildhorse has the following inventory data: July 1 Beginning inventory 5 Purchases 14 Sale 21 Purchases 30 Sale 32 units at $65 194 units at $60 130 units 97 units at $63 91 units Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis for July? $6586 $6286 $6298 $6334
Kingbird has the following inventory data: July 1 Beginning inventory 5 Purchases 14 Sale 21 Purchases 30 Sale 34 units at $68 205 units at $64 137 units 103 units at $66 96 units Assuming that a perpetual inventory system is used, what is ending inventory (rounded) under the average cost method for July? (Round intermediate calculations to 3 decimal places, e.g. 12.531.)
Question 17 Classic Floors has the following inventory data: July 1 Beginning inventory 30 units at $6.00 5 Purchases 120 units at $6.60 14 Sale 80 units 21 Purchases 60 units at $7.20 30 Sale 56 units Assuming that a perpetual inventory system is used, what is the cost of goods sold on a LIFO basis for July? A. $696.00 B. $931.20 C. $1,404.00
Tamarisk has the following inventory data: July 1 Beginning inventory 5 Purchases 14 Sale 21 Purchases 30 Sale 31 units at $62 187 units at $58 125 units 94 units at $60 87 units Assuming that a perpetual inventory system is used, what is ending inventory (rounded) under the average cost method for July? (Round intermediate calculations to 3 decimal places, e.g. 12.531.) $5973 $5929 $5241 $5997
Ayayai Corp. has the following inventory data: July 1 Beginning inventory 28 units at $18 $504 7 Purchases 99 units at $19 1881 22 Purchases 14 units at $21 294 $2679 A physical count of merchandise inventory on July 30 reveals that there are 45 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is