Homework Answers
| Ending inventory | ||||||
| (a) | FIFO | $26,145 | ||||
| (b) | LIFO | $24,900 | ||||
| © | Weighted Average | $24,609.50 | (109710/1850*415) | |||
| (d) | Specific identification | $25,645 | ||||
| Specific identification | ||||||
| Units sold | Cost of sales | Remaining units | Ending inventory | COGS | ||
| 600 | 60 | 0 | 36000 | |||
| 380 | 57 | 100 | 5700 | 21660 | ||
| 120 | 42 | 0 | 0 | 5040 | ||
| 130 | 65 | 50 | 3250 | 8450 | ||
| 205 | 63 | 265 | 16695 | 12915 | ||
| 25645 | 84065 | |||||
| FIFO | LIFO | Weighted Average | Specific identification | |||
| Sales | $114,800.00 | $114,800.00 | $114,800.00 | $114,800.00 | ||
| Less; COGS | $83,565.00 | $84,810.00 | $85,099.38 | $84,065.00 | ||
| Gross profit | $31,235.00 | $29,990.00 | $29,700.62 | $30,735.00 | ||
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problem 5-3A perpetual: alternative cost flows LO P
Problem 5-3A Perpetual: Alternative cost flows LO P1...
Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information applies...
Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Units Acquired at Cost 170 units @ $52.40 per unit 260 units @ $57.40 per unit 330 units @ $87.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar 18 Purchase...
1 Problem 6-3A Perpetual: Alternative cost flows P1 Montoure Company uses a perpetual inventory system. It...
1 Problem 6-3A Perpetual: Alternative cost flows P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. (For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 200 from the March 13 purchase, 50 from the August 21 purchase, and 250 from the September 5 purchase.) Date Activities Units Acquired at Cost Units Sold at Retail Jan. Beginning inventory 600 units o $45.00 per...
Problem 5-4AA Perpetual: Alternative cost flows LO P3 Montoure Company uses a perpetual inventory system. It...
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PROBLEM SET A connect Problem 6-1A Perpetual: Alternative cost flows P1 Warnerwoods Company uses a perpetual...
PROBLEM SET A connect Problem 6-1A Perpetual: Alternative cost flows P1 Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. (For specific identification, the March 9 sale consisted of 8o units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase.) Date Activities Units Acquired at Cost Units Sold...
Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and...
Compute the cost assigned to ending inventory using (a) FIFO,
(b) LIFO, (c) weighted average, and (d) specific identification.
For specific identification, units sold consist of 600 units from
beginning inventory, 380 from the February 10 purchase, 120 from
the March 13 purchase, 130 from the August 21 purchase, and 205
from the September 5 purchase. (Round your average cost per unit to
2 decimal places.)
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases...
Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 The following information applies to the...
Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 The following information applies to the questions displayed below) Warnerwoods Company uses a perpetual Inventory system. It entered into the following purchases and sales transactions for March lonn I w Unita Sold at Retail Activities Beginning inventory Unita Mequired at Coat 100 units $50.00 per unit 420 units $85.00 per unit 200 units $62.00 per upit 160 units 595.00 per unit Problem 6-1A Part 3 3. Compute the cost assigned...
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales...
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 600 units $40 per unit Feb. 10 Purchase 400 units@ $37 per unit Mar. 13 Purchase 190 units@ $15 per unit Mar. 15 Sales 805 units@ $70 per unit Aug. 21 Purchase 190 units @ $45 per unit Sept. 5 Purchase 550 units @ $43 per unit Sept. 10...
Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the...
Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units sold at Retail Units Acquired at Cost 120 units $51.40 per unit 235 units @ $56.40 per unit 280 units $86.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar 25 Purchase Mar....
Problem 6-1A Perpetual: Alternative cost flowsP Warnerwoods Company uses a perpetual inventory system. It entered into...
Problem 6-1A Perpetual: Alternative cost flowsP Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. (For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase.) Units Acquired at Cost Date Activities Units Sold at Retail Beginning inventory 100...
Homework - Chapter 5 0 Help Seve Required information Problem 5-1A Perpetual: Alternative cost flows LO...
Homework - Chapter 5 0 Help Seve Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 The following information applies to the questions displayed below) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Required at Coat 150 units $52.00 per unit 250 units $57.00 per unit Units sold at Retail Date Activities Mar. 1 Beginning inventory Har 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase...
Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Units Acquired at Cost 170 units @ $52.40 per unit 260 units @ $57.40 per unit 330 units @ $87.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar 18 Purchase...
1 Problem 6-3A Perpetual: Alternative cost flows P1 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. (For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 200 from the March 13 purchase, 50 from the August 21 purchase, and 250 from the September 5 purchase.) Date Activities Units Acquired at Cost Units Sold at Retail Jan. Beginning inventory 600 units o $45.00 per...
Problem 5-4AA Perpetual: Alternative cost flows LO P3 Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Units Sold at Retail Units Acquired at Cost 660 units @ $60 per unit 330 units @ $57 per unit 110 units @ $45 per unit Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 715 units @ $70 per...
PROBLEM SET A connect Problem 6-1A Perpetual: Alternative cost flows P1 Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. (For specific identification, the March 9 sale consisted of 8o units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase.) Date Activities Units Acquired at Cost Units Sold...
Compute the cost assigned to ending inventory using (a) FIFO,
(b) LIFO, (c) weighted average, and (d) specific identification.
For specific identification, units sold consist of 600 units from
beginning inventory, 380 from the February 10 purchase, 120 from
the March 13 purchase, 130 from the August 21 purchase, and 205
from the September 5 purchase. (Round your average cost per unit to
2 decimal places.)
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases...
Required information Problem 6-1A Perpetual: Alternative cost flows LO P1 The following information applies to the questions displayed below) Warnerwoods Company uses a perpetual Inventory system. It entered into the following purchases and sales transactions for March lonn I w Unita Sold at Retail Activities Beginning inventory Unita Mequired at Coat 100 units $50.00 per unit 420 units $85.00 per unit 200 units $62.00 per upit 160 units 595.00 per unit Problem 6-1A Part 3 3. Compute the cost assigned...
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 600 units $40 per unit Feb. 10 Purchase 400 units@ $37 per unit Mar. 13 Purchase 190 units@ $15 per unit Mar. 15 Sales 805 units@ $70 per unit Aug. 21 Purchase 190 units @ $45 per unit Sept. 5 Purchase 550 units @ $43 per unit Sept. 10...
Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 [The following information applies to the questions displayed below) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units sold at Retail Units Acquired at Cost 120 units $51.40 per unit 235 units @ $56.40 per unit 280 units $86.40 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar 25 Purchase Mar....
Problem 6-1A Perpetual: Alternative cost flowsP Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. (For specific identification, the March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase.) Units Acquired at Cost Date Activities Units Sold at Retail Beginning inventory 100...
Homework - Chapter 5 0 Help Seve Required information Problem 5-1A Perpetual: Alternative cost flows LO P1 The following information applies to the questions displayed below) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Required at Coat 150 units $52.00 per unit 250 units $57.00 per unit Units sold at Retail Date Activities Mar. 1 Beginning inventory Har 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase...
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