Homework Answers
| 1 | FIFO | Cost of goods available for sale | Cost of goods sold | Ending Inventory | ||||||
| Beginning Inventory | 78 | $ 55 | $ 4,290 | |||||||
| Oct-05 | 156 | $ 64 | $ 9,984 | 78 | $ 55 | $ 4,290 | ||||
| 156 | $ 64 | $ 9,984 | ||||||||
| Oct-13 | 78 | $ 55 | $ 4,290 | 54 | $ 64 | $ 3,456 | ||||
| 102 | $ 64 | $ 6,528 | ||||||||
| Oct-18 | 114 | $ 75 | $ 8,550 | 54 | $ 64 | $ 3,456 | ||||
| 114 | $ 75 | $ 8,550 | ||||||||
| Oct-26 | 54 | $ 64 | $ 3,456 | 18 | $ 75 | $ 1,350 | ||||
| 96 | $ 75 | $ 7,200 | ||||||||
| Totals | 270 | 18,534 | 330 | 21,474 | 18 | 1,350 | ||||
| 2 | LIFO | Cost of goods available for sale | Cost of goods sold | Ending Inventory | ||||||
| Beginning Inventory | 78 | $ 55 | $ 4,290 | |||||||
| Oct-05 | 156 | $ 64 | $ 9,984 | 78 | $ 55 | $ 4,290 | ||||
| 156 | $ 64 | $ 9,984 | ||||||||
| Oct-13 | 156 | $ 64 | $ 9,984 | 54 | $ 55 | $ 2,970 | ||||
| 24 | $ 55 | $ 1,320 | ||||||||
| Oct-18 | 114 | $ 75 | $ 8,550 | 54 | $ 55 | $ 2,970 | ||||
| 114 | $ 75 | $ 8,550 | ||||||||
| Oct-26 | 114 | $ 75 | $ 8,550 | 18 | $ 55 | $ 990 | ||||
| 36 | $ 55 | $ 1,980 | ||||||||
| Totals | 270 | 18,534 | 330 | 21,834 | 18 | 990 | ||||
| 3 | Weighted Average | Cost of goods available for sale | Cost of goods sold | Ending Inventory | ||||||
| Beginning Inventory | 78 | $ 55 | $ 4,290 | |||||||
| Oct-05 | 156 | $ 64 | $ 9,984 | 78 | $ 55 | $ 4,290 | ||||
| 156 | $ 64 | $ 9,984 | ||||||||
| 234 | $ 61.00 | $ 14,274 | ||||||||
| Oct-13 | 180 | $ 61.00 | $ 10,980 | 54 | $ 61.00 | $ 3,294 | ||||
| Oct-18 | 114 | $ 75 | $ 8,550 | 54 | $ 61.00 | $ 3,294 | ||||
| 114 | $ 75 | $ 8,550 | ||||||||
| 168 | $ 70.50 | $ 11,844 | ||||||||
| Oct-26 | 150 | $ 70.50 | $ 10,575 | 18 | $ 70.50 | $ 1,269 | ||||
| Totals | 270 | 18,534 | 330 | 21,555 | 18 | 1,269 | ||||
| 4 | LIFO | |||||||||
| Under LIFO cost of goods sold is highest and net profit decreases which results in less tax payments | ||||||||||
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ntory of 78 crates of vitamins that cost a total of $4,290. During the month, Exercise...
Fit Gym began October with merchandise inventory of 78 crates of vitamins that cost a total...
Fit Gym began October with merchandise inventory of 78 crates of vitamins that cost a total of $4,290. During the month, Fit Gym purchased and sold merchandise on account as follows: EEB (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Begin by computing the cost of goods sold and cost of...
crates of vitamins that cost a total of $3,600. During the month, Athletic W i Data...
crates of vitamins that cost a total of $3,600. During the month, Athletic W i Data Table good the tra the qu Oct. 5 Purchase 13 Sale 18 Purchase 26 Sale 120 crates @ 130 crates @ 130 crates @ 140 crates @ $ $ $ $ 58 each 108 each 72 each 112 each stof Print | Done o the next question Activity Details Athletic World began October with merchandise inventory of 80 crates of vitamins that cost a...
Athletic World began January with merchandise inventory of 72 crates of vitamins that cost a total...
Athletic World began January with merchandise inventory of 72 crates of vitamins that cost a total of $3,600. During the month, Athletic World purchased and sold merchandise on account as follows: BE: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Begin by computing the cost of goods sold and cost of...
Athletic world began January with merchandise inventory of 70 crates of vitamins that cost a total...
Athletic world began January with merchandise inventory of 70
crates of vitamins that cost a total of $4,550. During the month,
Athletic World purchased and sold merchandise on account as follows.
onth, Athletic World purchased and sold merchandise on account as follows: pany's cost of goods sold, ending merchandise inventory, and gross profit method. Enter the transactions in chronological order, calculating new inventory on hand balances after purchased, sold, and on hand at the end of the period. (Enter the...
For planet began May with with merchandise inventory of 65 crates of of vitamins that cost...
For
planet began May with with merchandise inventory of 65 crates of of
vitamins that cost a total of of $3,835. During the month, fit
planet purchased and sold merchandise on account as follows:
ms 50f 6 (3 complete) ▼ uring the month, Fit Planet purchased and sold merchandise on account as follows: determine the company's cost of goods sold, ending merchandise inventory, and gross profit. on ha Xhe olde Requirements ota Prepare a perpetual inventory record, using the FIFO...
Please show answers clearly. Fit Gym began July with merchandise inventory of 76 crates of vitamins...
Please show answers clearly.
Fit Gym began July with merchandise inventory of 76 crates of vitamins that cost a total of $4,560. During the month, Fit Gym purchased and sold merchandise on account as follows: (Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and delermine the company's cost of goods sold, ending merchandise inventory, and gross profit. Begin by computing the cost of goods sold...
Athletic Word began May with merchandise inventory of 65 cretes or vitamins that cost total of...
Athletic Word began May with merchandise inventory of 65 cretes or vitamins that cost total of $3.835 During the month, Athletic World purchased and sold merchandise on account as follows Click the icon to view the transactions.) Read the cours Total Requirement 1. Prepare a perpetual invertory record, using the FIFO inventory cesting method, and determine the company's cost of gouck cold, erding merchandise inventory, and grove proit. Begin by computing the cost of good cod and cost of encirg...
TH VOIR. IVICUUIU TI Score: 0 of 1 pt 6 of 6 (5 complete) P6-28A (similar...
TH VOIR. IVICUUIU TI Score: 0 of 1 pt 6 of 6 (5 complete) P6-28A (similar to) Fit World began May with merchandise Inventory of 70 crates of vitamins that cost a total of $4,560. During the month, Fit World purchased and sold merchandise on account as follows: E! (Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold,...
ACCT 101 902 Archie Summer 2019 Homework: Chapter 6 Homework Assignment Score: 0 of 1 pt 1 of 1 (0 complete) HW Scor...
ACCT 101 902 Archie Summer 2019 Homework: Chapter 6 Homework Assignment Score: 0 of 1 pt 1 of 1 (0 complete) HW Score: 06, 0 of 1 P6-28A (similar to) Question Help Fit Gym began October with merchandise inventory of 80 crates of vitamins that cost a total of $3,600 During the mon Fit Gym purchased and sold merchandise on account as follows (Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare a perpetual inventory record,...
Please explain your answer. Thank you. Learning Objectives 2, 3 P6-28A Accounting for inventory using the...
Please explain your answer. Thank you.
Learning Objectives 2, 3 P6-28A Accounting for inventory using the perpetual inventory system- FIFO, LIFO, and weighted average Fit Gym began January with merchandise inventory of 78 crates of vitamins that cost a total of $4,290. During the month, Fit Gym purchased and sold merchandise on account as follows: 2. Ending Merch. Inv., $990 Jan. 5 Purchase 156 crates @ $ 64 each 180 crates @ $ 100 each 13 Sale 18 Purchase 26...
Fit Gym began October with merchandise inventory of 78 crates of vitamins that cost a total of $4,290. During the month, Fit Gym purchased and sold merchandise on account as follows: EEB (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Begin by computing the cost of goods sold and cost of...
crates of vitamins that cost a total of $3,600. During the month, Athletic W i Data Table good the tra the qu Oct. 5 Purchase 13 Sale 18 Purchase 26 Sale 120 crates @ 130 crates @ 130 crates @ 140 crates @ $ $ $ $ 58 each 108 each 72 each 112 each stof Print | Done o the next question Activity Details Athletic World began October with merchandise inventory of 80 crates of vitamins that cost a...
Athletic World began January with merchandise inventory of 72 crates of vitamins that cost a total of $3,600. During the month, Athletic World purchased and sold merchandise on account as follows: BE: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Begin by computing the cost of goods sold and cost of...
Athletic world began January with merchandise inventory of 70
crates of vitamins that cost a total of $4,550. During the month,
Athletic World purchased and sold merchandise on account as follows.
onth, Athletic World purchased and sold merchandise on account as follows: pany's cost of goods sold, ending merchandise inventory, and gross profit method. Enter the transactions in chronological order, calculating new inventory on hand balances after purchased, sold, and on hand at the end of the period. (Enter the...
For
planet began May with with merchandise inventory of 65 crates of of
vitamins that cost a total of of $3,835. During the month, fit
planet purchased and sold merchandise on account as follows:
ms 50f 6 (3 complete) ▼ uring the month, Fit Planet purchased and sold merchandise on account as follows: determine the company's cost of goods sold, ending merchandise inventory, and gross profit. on ha Xhe olde Requirements ota Prepare a perpetual inventory record, using the FIFO...
Please show answers clearly.
Fit Gym began July with merchandise inventory of 76 crates of vitamins that cost a total of $4,560. During the month, Fit Gym purchased and sold merchandise on account as follows: (Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and delermine the company's cost of goods sold, ending merchandise inventory, and gross profit. Begin by computing the cost of goods sold...
Athletic Word began May with merchandise inventory of 65 cretes or vitamins that cost total of $3.835 During the month, Athletic World purchased and sold merchandise on account as follows Click the icon to view the transactions.) Read the cours Total Requirement 1. Prepare a perpetual invertory record, using the FIFO inventory cesting method, and determine the company's cost of gouck cold, erding merchandise inventory, and grove proit. Begin by computing the cost of good cod and cost of encirg...
TH VOIR. IVICUUIU TI Score: 0 of 1 pt 6 of 6 (5 complete) P6-28A (similar to) Fit World began May with merchandise Inventory of 70 crates of vitamins that cost a total of $4,560. During the month, Fit World purchased and sold merchandise on account as follows: E! (Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold,...
ACCT 101 902 Archie Summer 2019 Homework: Chapter 6 Homework Assignment Score: 0 of 1 pt 1 of 1 (0 complete) HW Score: 06, 0 of 1 P6-28A (similar to) Question Help Fit Gym began October with merchandise inventory of 80 crates of vitamins that cost a total of $3,600 During the mon Fit Gym purchased and sold merchandise on account as follows (Click the icon to view the transactions.) Read the requirements Requirement 1. Prepare a perpetual inventory record,...
Please explain your answer. Thank you.
Learning Objectives 2, 3 P6-28A Accounting for inventory using the perpetual inventory system- FIFO, LIFO, and weighted average Fit Gym began January with merchandise inventory of 78 crates of vitamins that cost a total of $4,290. During the month, Fit Gym purchased and sold merchandise on account as follows: 2. Ending Merch. Inv., $990 Jan. 5 Purchase 156 crates @ $ 64 each 180 crates @ $ 100 each 13 Sale 18 Purchase 26...
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