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Inventory Costing Methods–Periodic Method The following data are for the Portet Corporation, which sells just one...
Inventory Costing Methods-Periodic Method The following data are for the Portet Corporation, which sells just one...
Inventory Costing Methods-Periodic Method The following data are for the Portet Corporation, which sells just one product: Units Unit Cost Beginning Inventory, January 1 1.200 $13 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 17 Sales: March 1 1,400 July 1 1,400 October 291,000 Calculate the value of ending inventory and cost of goods sold at year-end using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted average cost method. Hint: For weighted-average cost,...
Inventory Costing Methods-Perpetual Method Using the data below, assume that Graham Corporation uses the perpetual inventory...
Inventory Costing Methods-Perpetual Method Using the data below, assume that Graham Corporation uses the perpetual inventory system. Calculate the value of ending inventory and cost of goods sold for the year using the perpetual method and (a) first.in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Units Unit Cost Beginning inventory, January 1,200 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 March 1 July 1 1,400 October 29 1,000 Round the cost per unit to 3 decimal...
Calculate the value of ending inventory and cost of goods sold using the periodic method and...
Calculate the value of ending inventory and cost of goods sold
using the periodic method and a) first-in, first-out, b) last-in,
first-out, and c) weighted-average cost method:
Inventory Costing Methods—Periodic Method The following data are for the Portet Corporation, which sells just one product: Units Unit Cost Beginning Inventory, January 1 1.200 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 Sales: March 1 1,400 July 1 1,400 October 291,000 Calculate the value of ending inventory and cost of...
Question 4 P lag question Not complete Marked out of 1.00 Inventory Costing Methods-Perlodic Method The...
Question 4 P lag question Not complete Marked out of 1.00 Inventory Costing Methods-Perlodic Method The following data are for the Portet Corporation, which sells just one product: Units Unit Cost Beginning Inventory, January 1 February 11 May 18 1,200 $15 Purchases: 1.500 $16 17 1,400 October 23 1,100 19 Sales: March 1 1400 1400 July 1 October 29 1,000 Calculate the value of ending inventory and cost of goods sold at year-end using the periodic method and (a) first-in,...
Inventory Costing Methods - Periodic Method The following data are for the Cracker Corporation, which sells...
Inventory Costing Methods - Periodic Method The following data are for the Cracker Corporation, which sells just one product Units Unit Cost Beginning inventory, January 1..........................................................1200 $18 Purchases February 11........................................................... 1500 $19 May 18...................................................................1400 $20 October 23............................................................1100 $23 Sales March 1..................................................................1400 July 1.....................................................................1400 October 29..............................................................1000 Required 1.) Calculate the value of ending inventory and cost of goods sold for the year using the periodic method and a.) First-in-first out b.) Last-in-first out c.) weighted average cost method 2.) If the...
LO2 5684. Inventory Costing Methods-Periodic Method The following data are for the Vista Company, which sells...
LO2 5684. Inventory Costing Methods-Periodic Method The following data are for the Vista Company, which sells just one product: Unit Cost $10 14 Beginning inventory, January 1 ...................................... Purchases: February 11. May 18 .... October 23.... Sales March 1............................................ July 1 ...... 200 500 400 100 18 400 380 Calculate the value of ending inventory and cost of goods sold using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted average cost method. Round your final...
Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are...
Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory: May 1 Beginning inventory 450 units $34 per unit 12 Purchased 400 units 539 per unit 16 Sold 480 units 24 Purchased 460 units @ $40 per unit Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average cost methods. Do not...
Inventory Costing Methods-Periodic Method Spangler Company is a retailer that uses the periodic inventory system. March...
Inventory Costing Methods-Periodic Method Spangler Company is a retailer that uses the periodic inventory system. March 1 Beginning inventory 100 units of Product Me $2.790 total cost 6 Purchased 200 units of Product Me $4,800 total cost 10 Purchased 150 units of Product M@ $4.200 total cost 15 Sold 180 units of Product M Calculate the March cost of goods sold and the ending inventory at March 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average...
Inventory Costing Methods . Periodic Method Fortune Stores uses the periodic inventory system for its merchandise...
Inventory Costing Methods . Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April 1 inventory for one of the items in the merchandise inventory consisted of 120 units with a unit cost of $335. Transactions for this item during April were as follows: April 9 Purchased 40 units $355 per unit 14 Sold 80 units @ $560 per unit 23 Purchased 20 units @ $360 per unit 29 Sold 40 units Required a. Calculate...
Inventory Costing Methods-Periodic Method The Gleem Sales Corporation uses the periodic inventory system. On January 1.2015....
Inventory Costing Methods-Periodic Method The Gleem Sales Corporation uses the periodic inventory system. On January 1.2015. Gleem had 2,600 units of product B with a unit cost of s40 per unit. A summary of purchases and sales during 2015 follows: Unit Units Units Cost Purchased Sold Jan.3 Mar.8 $44 3,000 June 13 Sept.19 46 Nov.23 Dec.28 1,600 2,000 800 48 1,200 1,800 Required a. Assume that Gleem uses the first-in, first-out method Compute the cost of goods sold for 2015...
Inventory Costing Methods-Periodic Method The following data are for the Portet Corporation, which sells just one product: Units Unit Cost Beginning Inventory, January 1 1.200 $13 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 17 Sales: March 1 1,400 July 1 1,400 October 291,000 Calculate the value of ending inventory and cost of goods sold at year-end using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted average cost method. Hint: For weighted-average cost,...
Inventory Costing Methods-Perpetual Method Using the data below, assume that Graham Corporation uses the perpetual inventory system. Calculate the value of ending inventory and cost of goods sold for the year using the perpetual method and (a) first.in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Units Unit Cost Beginning inventory, January 1,200 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 March 1 July 1 1,400 October 29 1,000 Round the cost per unit to 3 decimal...
Calculate the value of ending inventory and cost of goods sold
using the periodic method and a) first-in, first-out, b) last-in,
first-out, and c) weighted-average cost method:
Inventory Costing Methods—Periodic Method The following data are for the Portet Corporation, which sells just one product: Units Unit Cost Beginning Inventory, January 1 1.200 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 Sales: March 1 1,400 July 1 1,400 October 291,000 Calculate the value of ending inventory and cost of...
Question 4 P lag question Not complete Marked out of 1.00 Inventory Costing Methods-Perlodic Method The following data are for the Portet Corporation, which sells just one product: Units Unit Cost Beginning Inventory, January 1 February 11 May 18 1,200 $15 Purchases: 1.500 $16 17 1,400 October 23 1,100 19 Sales: March 1 1400 1400 July 1 October 29 1,000 Calculate the value of ending inventory and cost of goods sold at year-end using the periodic method and (a) first-in,...
LO2 5684. Inventory Costing Methods-Periodic Method The following data are for the Vista Company, which sells just one product: Unit Cost $10 14 Beginning inventory, January 1 ...................................... Purchases: February 11. May 18 .... October 23.... Sales March 1............................................ July 1 ...... 200 500 400 100 18 400 380 Calculate the value of ending inventory and cost of goods sold using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted average cost method. Round your final...
Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory: May 1 Beginning inventory 450 units $34 per unit 12 Purchased 400 units 539 per unit 16 Sold 480 units 24 Purchased 460 units @ $40 per unit Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average cost methods. Do not...
Inventory Costing Methods-Periodic Method Spangler Company is a retailer that uses the periodic inventory system. March 1 Beginning inventory 100 units of Product Me $2.790 total cost 6 Purchased 200 units of Product Me $4,800 total cost 10 Purchased 150 units of Product M@ $4.200 total cost 15 Sold 180 units of Product M Calculate the March cost of goods sold and the ending inventory at March 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average...
Inventory Costing Methods . Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April 1 inventory for one of the items in the merchandise inventory consisted of 120 units with a unit cost of $335. Transactions for this item during April were as follows: April 9 Purchased 40 units $355 per unit 14 Sold 80 units @ $560 per unit 23 Purchased 20 units @ $360 per unit 29 Sold 40 units Required a. Calculate...
Inventory Costing Methods-Periodic Method The Gleem Sales Corporation uses the periodic inventory system. On January 1.2015. Gleem had 2,600 units of product B with a unit cost of s40 per unit. A summary of purchases and sales during 2015 follows: Unit Units Units Cost Purchased Sold Jan.3 Mar.8 $44 3,000 June 13 Sept.19 46 Nov.23 Dec.28 1,600 2,000 800 48 1,200 1,800 Required a. Assume that Gleem uses the first-in, first-out method Compute the cost of goods sold for 2015...
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