Homework Answers
As per rules I am answering the first 4 subparts of the question:
| Number | Cost per unit | Total | ||
| 1-Jan | 40 | 4 | 160 | |
| 1-Apr | 60 | 7 | 420 | |
| 1-Jun | 50 | 8 | 400 | |
| 1-Nov | 55 | 9 | 495 | |
| Total | 205 | 1475 | ||
| WACC | Cost per unit | 7.2 | ||
| 1 | Cost of inventory | 439 | ||
| 2 | Cost of goods sold | 1036 | ||
| FIFO | 3 | Cost of inventory | 549 | |
| 4 | Cost of goods sold | 926 | ||
| LIFO | 5 | Cost of inventory | 244 | |
| 6 | Cost of goods sold | 1231 |
We computed weighted average cost per unit. Multiply inventory stock*Cost per unit.
Cost of goods sold = Total cost - Cost of inventory
WORKINGS
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Please put in excel spreadsheet and please show formula and
answers. Thank you.
unit cost to...
Please put in excel spreadsheet and please show formula and answers. Thank you. EXTRA PRACTICE QUIZ...
Please put in excel spreadsheet and please show formula and
answers. Thank you.
EXTRA PRACTICE QUIZ WITH WORKED-OUT SOLUTIONS Need more practice? Try this Extra Practice Quiz (check 1. In 2015, Rancho Corporation bought semiconductor equipment for $90,000.U MACRS, what is the depreciation expense in year 3? eractive Chapter 2. What would depreciation be the first year for a wastewater treatment plant that cog Organizer). Worked-out Solutions an be found in Appendix B at nd of text. $900,000? The auestions...
Please explain how you found your answer E7-5 Calculating Cost of Ending Inventory and Cost of...
Please explain how you found your answer
E7-5 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost (LO 7-3) Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 280 units. Beginning Inventory...
units sold is 290 Date Units Unit Cost Total Cost Beginning Inventory Purchase January 1 January...
units sold is 290
Date Units Unit Cost Total Cost Beginning Inventory Purchase January 1 January 15 January 24 $ 80 140 $11,200 29,700 27,500 330 90 Purchase 250 110 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, Complete this question by entering your answers in the tabs below....
Ferris Company began 2018 with 5,000 units of its principal product. The cost of each unit...
Ferris Company began 2018 with 5,000 units of its principal
product. The cost of each unit is $9. Merchandise transactions for
the month of January 2018 are as follows:
Purchases
Date of Purchase
Units
Unit Cost*
Total Cost
Jan. 10
6,000
$
10
$
60,000
Jan. 18
5,000
11
55,000
Totals
11,000
115,000
*Includes purchase price and cost of freight.
Sales
Date of Sale
Units
Jan. 5
3,000
Jan. 12
3,000
Jan. 20
4,000
Total
10,000
6,000 units were on...
Fill out excel Better Bottles, Inc., uses a periodic inventory system and has the following information...
Fill out excel
Better Bottles, Inc., uses a periodic inventory system and has the following information available: ON # of Units $ Description 4 Beginning Inventory 5 Jan. 15 Purchase 6 Jan. 20 Purchase 7 Goods Available for Sale 8 Less: January Sales 9 Ending Inventory 10 Cost per Unit 20.00 22.00 30.00 WP T otal Cost 400.00 594.00 990.00 1,984.00 12 Required: 13 1) Calculate both the Ending Inventory and cost of Goods Sold using Periodic FIFO. FIFO Ending...
Ferris Company began 2018 with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactio...
Ferris Company began 2018 with 4,000 units of its principal
product. The cost of each unit is $7. Merchandise transactions for
the month of January 2018 are as follows:
Purchases
Date of Purchase
Units
Unit Cost*
Total Cost
Jan. 10
3,000
$
8
$
24,000
Jan. 18
4,000
9
36,000
Totals
7,000
60,000
*Includes purchase price and cost of freight.
Sales
Date of Sale
Units
Jan. 5
2,000
Jan. 12
1,000
Jan. 20
3,000
Total
6,000
5,000 units were on...
just answer requird 3 E7-5 Calculating Cost of Ending Inventory and Cost of Goods Sold under...
just answer requird 3
E7-5 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3) Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic Inventory system. Assume Oahu Kiki's records show the following for the month of January, Sales totaled 240 units. Beginning Inventory Purchase Purchase Date...
Ferris Company began January with 4,000 units of its principal product. The cost of each unit...
Ferris Company began January with 4,000 units of its principal
product. The cost of each unit is $7. Merchandise transactions for
the month of January are as follows:
Purchases
Date of Purchase
Units
Unit Cost*
Total Cost
Jan. 10
3,000
$
8
$
24,000
Jan. 18
4,000
9
36,000
Totals
7,000
60,000
* Includes purchase price and cost of freight.
Sales
Date of Sale
Units
Jan. 5
2,000
Jan. 12
1,000
Jan. 20
3,000
Total
6,000
5,000 units were on...
Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost...
Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of goods sold for the month of November of Beamer Company using the data below. Nov. $80 each 1 Purchased 4 Sold 11 Purchased 12 Sold 22 Purchased 23 Sold 600 units 200 units 350 units 275 units 175 units 155 units $82 each $84 each 1. Calculate the inventory valuation at the end of November 2. Calculate the cost of goods sold for...
Will you please type the answer and not use handwriting? Thank you. Oahu Kiki tracks the...
Will you please type the answer and not use handwriting? Thank
you.
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies Its Inventory costing method at the end of each month, as if It uses a periodic Inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 240 units. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units 120 380 209 Unit Cost $...
Please put in excel spreadsheet and please show formula and
answers. Thank you.
EXTRA PRACTICE QUIZ WITH WORKED-OUT SOLUTIONS Need more practice? Try this Extra Practice Quiz (check 1. In 2015, Rancho Corporation bought semiconductor equipment for $90,000.U MACRS, what is the depreciation expense in year 3? eractive Chapter 2. What would depreciation be the first year for a wastewater treatment plant that cog Organizer). Worked-out Solutions an be found in Appendix B at nd of text. $900,000? The auestions...
Please explain how you found your answer
E7-5 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost (LO 7-3) Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 280 units. Beginning Inventory...
units sold is 290
Date Units Unit Cost Total Cost Beginning Inventory Purchase January 1 January 15 January 24 $ 80 140 $11,200 29,700 27,500 330 90 Purchase 250 110 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, Complete this question by entering your answers in the tabs below....
Ferris Company began 2018 with 5,000 units of its principal
product. The cost of each unit is $9. Merchandise transactions for
the month of January 2018 are as follows:
Purchases
Date of Purchase
Units
Unit Cost*
Total Cost
Jan. 10
6,000
$
10
$
60,000
Jan. 18
5,000
11
55,000
Totals
11,000
115,000
*Includes purchase price and cost of freight.
Sales
Date of Sale
Units
Jan. 5
3,000
Jan. 12
3,000
Jan. 20
4,000
Total
10,000
6,000 units were on...
Fill out excel
Better Bottles, Inc., uses a periodic inventory system and has the following information available: ON # of Units $ Description 4 Beginning Inventory 5 Jan. 15 Purchase 6 Jan. 20 Purchase 7 Goods Available for Sale 8 Less: January Sales 9 Ending Inventory 10 Cost per Unit 20.00 22.00 30.00 WP T otal Cost 400.00 594.00 990.00 1,984.00 12 Required: 13 1) Calculate both the Ending Inventory and cost of Goods Sold using Periodic FIFO. FIFO Ending...
Ferris Company began 2018 with 4,000 units of its principal
product. The cost of each unit is $7. Merchandise transactions for
the month of January 2018 are as follows:
Purchases
Date of Purchase
Units
Unit Cost*
Total Cost
Jan. 10
3,000
$
8
$
24,000
Jan. 18
4,000
9
36,000
Totals
7,000
60,000
*Includes purchase price and cost of freight.
Sales
Date of Sale
Units
Jan. 5
2,000
Jan. 12
1,000
Jan. 20
3,000
Total
6,000
5,000 units were on...
just answer requird 3
E7-5 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3) Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic Inventory system. Assume Oahu Kiki's records show the following for the month of January, Sales totaled 240 units. Beginning Inventory Purchase Purchase Date...
Ferris Company began January with 4,000 units of its principal
product. The cost of each unit is $7. Merchandise transactions for
the month of January are as follows:
Purchases
Date of Purchase
Units
Unit Cost*
Total Cost
Jan. 10
3,000
$
8
$
24,000
Jan. 18
4,000
9
36,000
Totals
7,000
60,000
* Includes purchase price and cost of freight.
Sales
Date of Sale
Units
Jan. 5
2,000
Jan. 12
1,000
Jan. 20
3,000
Total
6,000
5,000 units were on...
Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of goods sold for the month of November of Beamer Company using the data below. Nov. $80 each 1 Purchased 4 Sold 11 Purchased 12 Sold 22 Purchased 23 Sold 600 units 200 units 350 units 275 units 175 units 155 units $82 each $84 each 1. Calculate the inventory valuation at the end of November 2. Calculate the cost of goods sold for...
Will you please type the answer and not use handwriting? Thank
you.
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies Its Inventory costing method at the end of each month, as if It uses a periodic Inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 240 units. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units 120 380 209 Unit Cost $...
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