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Given the following March 2016 data for the Werthmann Compan Beginning Inventory March Purchases March Sales...
1.Given the following October 2017 data for the Paquette Company: Using the Retail method, the inventory...
1.Given the following October 2017 data for the Paquette
Company:
Using the Retail method, the inventory cost estimate at 10/31/17
is:
Select one:
a. $2,900
b. $2,354
c. $2,278
d. $2,250
e. $3,000
2.Given the following March 2016 data for the Werthmann
Company:
The estimated inventory at 3/31/16 is:
Select one:
a. $500
b. $1,200
c. $720
d. $800
e. $320
At Cost $1,000 Beginning Inventory Mark ups Mark-up Cancellations Net Sales Net Purchases At Retail $1,250 $250 $150 $5,000...
The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period ending March 31...
The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period ending March 31, 2016, are as follows: Date Transaction Number of Units Per Unit Total Jan. 1 Inventory 2,700 $50.00 $135,000 10 Purchase 7,300 58.00 423,400 28 Sale 4,050 100.00 405,000 30 Sale 1,200 100.00 120,000 Feb. 5 Sale 500 100.00 50,000 10 Purchase 17,000 60.00 1,020,000 16 Sale 9,200 105.00 966,000 28 Sale 8,000 105.00 840,000 Mar. 5 Purchase 14,300 61.60 880,880...
Given the following October 2017 data for the Paquette Company: At Cost $1,000 Beginning Inventory Mark...
Given the following October 2017 data for the Paquette Company: At Cost $1,000 Beginning Inventory Mark ups Mark-up Cancellations Net Sales Net Purchases At Retail $1,250 $250 $150 $5,000 $6,150 $4,000 Using the Retail method, the inventory cost estimate at 10/31/17 is: Select one: O a. $1,900 O b. $1,733 O c. $1,667 d. $2,250 O e. $2,500
The beginning inventory at Midnight Supplies and data on purchases and sales for a three month...
The beginning inventory at Midnight Supplies and data on purchases and sales for a three month period ending March 31 are as follows: Date Transaction Number of Units Per Unit Total Jan. 1 Inventory 2,600 $54.00 $140,400 10 Purchase 7,000 62.00 434,000 28 Sale 3,850 108.00 415,800 30 Sale 1,300 108.00 140,400 Feb. 5 Sale 500 108.00 54,000 10 Purchase 17,500 64.00 1,120,000 16 Sale 8,700 113.00 983,100 28 Sale 8,600 113.00 971,800 Mar. 5 Purchase 14,000 65.60 918,400 14...
LIFO Perpetual Inventory The beginning inventory for Dunne Co. and data on purchases and sales for...
LIFO Perpetual Inventory
The beginning inventory for Dunne Co. and data on purchases and
sales for a three-month period are as follows:
Date
Transaction
Number
of Units
Per
Unit
Total
Apr. 3
Inventory
25
$1,200
$30,000
8
Purchase
75
1,240
93,000
11
Sale
40
2,000
80,000
30
Sale
30
2,000
60,000
May 8
Purchase
60
1,260
75,600
10
Sale
50
2,000
100,000
19
Sale
20
2,000
40,000
28
Purchase
80
1,260
100,800
June 5
Sale
40
2,250
90,000
16
Sale...
.................. FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales...
..................
FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 78 $600 $46,800 Purchase 156 720 112,320 104 208,000 11 30 May 8 Sale Sale Purchase 65 130,000 130 2,000 2,000 800 2,000 2,000 104,000 10 Sale 78 156,000 39 78,000 130 880 114,400 19 28 June 5 16 21 Sale Purchase Sale...
EX 7-5 Perpetual inventory using LIFO OBJ. 2, 3 Beginning inventory, purchases, and sales data for...
EX 7-5 Perpetual inventory using LIFO OBJ. 2, 3 Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Inventory Purchases Sales May 1 1,550 units at $44 May 10 720 units at $45 May 12 1,200 units 20 1,200 units at $48 14 830 units 31 1,000 units a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory...
Supply the missing dollar amounts for each of the following independent cases: Beginning Purchases Inventory Cost...
Supply the missing dollar amounts for each of the following independent cases: Beginning Purchases Inventory Cost of Goods Sold Cost of Sales Revenue Cost of Goods Available for Sale Gross Profit Cases Ending Inventory A S 1,000 400 S 1,100 S 660 1,200 500 1,100 460 C 400 500 600 700 D 1,160 900 950 550 E 1,300 350 1,200 860
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales...
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Delacour, Inc. for an operating period. Units Unit Cost Total Cost Units Sold 30 $28 $ 840 2,000 Beginning Inventory Sale No. 1 Purchase No. 1 Sale No. 2 Purchase No. 2 Totals 44 20 100 880 $3,720 60 Assuming Delacour, Inc. uses FIFO perpetual inventory procedures, it records sale no. 2 as an entry to Cost of Goods Sold for: Select one:...
Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Inventory...
Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Inventory Purchases Sales May 1 1,200 units at $22 May 12 840 units May 10 May 20 600 units at $24 540 units at $26 May 14 May 31 720 units 360 units a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the...
1.Given the following October 2017 data for the Paquette
Company:
Using the Retail method, the inventory cost estimate at 10/31/17
is:
Select one:
a. $2,900
b. $2,354
c. $2,278
d. $2,250
e. $3,000
2.Given the following March 2016 data for the Werthmann
Company:
The estimated inventory at 3/31/16 is:
Select one:
a. $500
b. $1,200
c. $720
d. $800
e. $320
At Cost $1,000 Beginning Inventory Mark ups Mark-up Cancellations Net Sales Net Purchases At Retail $1,250 $250 $150 $5,000...
Given the following October 2017 data for the Paquette Company: At Cost $1,000 Beginning Inventory Mark ups Mark-up Cancellations Net Sales Net Purchases At Retail $1,250 $250 $150 $5,000 $6,150 $4,000 Using the Retail method, the inventory cost estimate at 10/31/17 is: Select one: O a. $1,900 O b. $1,733 O c. $1,667 d. $2,250 O e. $2,500
LIFO Perpetual Inventory
The beginning inventory for Dunne Co. and data on purchases and
sales for a three-month period are as follows:
Date
Transaction
Number
of Units
Per
Unit
Total
Apr. 3
Inventory
25
$1,200
$30,000
8
Purchase
75
1,240
93,000
11
Sale
40
2,000
80,000
30
Sale
30
2,000
60,000
May 8
Purchase
60
1,260
75,600
10
Sale
50
2,000
100,000
19
Sale
20
2,000
40,000
28
Purchase
80
1,260
100,800
June 5
Sale
40
2,250
90,000
16
Sale...
..................
FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Number Date Transaction of Units Per Unit Total Apr. 3 Inventory 78 $600 $46,800 Purchase 156 720 112,320 104 208,000 11 30 May 8 Sale Sale Purchase 65 130,000 130 2,000 2,000 800 2,000 2,000 104,000 10 Sale 78 156,000 39 78,000 130 880 114,400 19 28 June 5 16 21 Sale Purchase Sale...
EX 7-5 Perpetual inventory using LIFO OBJ. 2, 3 Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Inventory Purchases Sales May 1 1,550 units at $44 May 10 720 units at $45 May 12 1,200 units 20 1,200 units at $48 14 830 units 31 1,000 units a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory...
Supply the missing dollar amounts for each of the following independent cases: Beginning Purchases Inventory Cost of Goods Sold Cost of Sales Revenue Cost of Goods Available for Sale Gross Profit Cases Ending Inventory A S 1,000 400 S 1,100 S 660 1,200 500 1,100 460 C 400 500 600 700 D 1,160 900 950 550 E 1,300 350 1,200 860
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Delacour, Inc. for an operating period. Units Unit Cost Total Cost Units Sold 30 $28 $ 840 2,000 Beginning Inventory Sale No. 1 Purchase No. 1 Sale No. 2 Purchase No. 2 Totals 44 20 100 880 $3,720 60 Assuming Delacour, Inc. uses FIFO perpetual inventory procedures, it records sale no. 2 as an entry to Cost of Goods Sold for: Select one:...
Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Inventory Purchases Sales May 1 1,200 units at $22 May 12 840 units May 10 May 20 600 units at $24 540 units at $26 May 14 May 31 720 units 360 units a. Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the...
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