Under Fifo, units available first are sold first. And hence ending inventory belongs to last available units Ending inventory cost (200 units) = (110*13) + (200-110)*12 = 2510 Option C is the answer |
|
Tomasino'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 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?
need help with this problem - thank you 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 300 units at $11 per unit 90 units at $12 per unit At January 31, 210 units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method? O A. $2,250 O B. $1,890 OC. $2,400...
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 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 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...
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....
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 1 Beginning inventory Jan 12 Purchase Jan 18 Sales Jan 21 Purchase Jan 25 Purchase Jan 31 Sales 2,000 units @ $5.70 2,100 units @ $5.50 2,200 units @ $7.20 2,000 units @ $5.80 1,800 units @ $5.60 2,150 units @ $7.20 Assuming Chase uses a FIFO cost flow method, the cost of goods sold for the sales transaction on January 31 is: Multiple...
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...