Homework Answers
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1. Cost of Goods Sold under lifo = (1000*4.20)+(1400*4.10)+(1200*4) = 4200 + 5740 + 4800 = 14,740 Option B |
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2. Average cost per unit = [(1100*3.8)+(1200*4)+(1000*4.2)+(1400*4.1)]/(1100+1200+1400+1000)] = 18,920/4,700 = 4.03 Option A |
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Test 2 Help The inventory records for Radford Co. reflected the following: oo 1 Beginning inventory...
The inventory records for Radford Co. reflected the following Beginning inventory @ May 1 First purchase...
The inventory records for Radford Co. reflected the following Beginning inventory @ May 1 First purchase @ May 7 second purchase @ May 17 Third purchase @ May 23 Sales @ May 31 1,200 units @ $4.00 1,300 units @ $4.20 1,500 units @ $4.30 1,100 units @ $4.40 3,900 units @ $5.90 Determine the amount of cost of goods sold assuming the LIFO cost flow method. Multiple Choice $15,600 $16,750 < Prev 6 of 11 Next >
The inventory records for Radford Co. reflected the following Beginning inventory @ May 1 First purchase...
The inventory records for Radford Co. reflected the following Beginning inventory @ May 1 First purchase @ May 7 second purchase @ May 17 Third purchase @ May 23 300 units e $2.20 400 units e $2.40 600 units @ $2.50 200 units @ $2.60 Sales @ May 31 1, 200 units @ $4.10 Determine the amount of ending inventory assuming the FIFO cost flow method. Multiple Choice $770 $780 Determine the amount of ending inventory assuming the FIFO cost...
The inventory records for Radford Co. reflected the following 1 لا o لا Beginning inventory @...
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The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 700 units...
The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 700 units @ $3.00 First purchase @ May 7 800 units @ $3.20 Second purchase @ May 17 1000 units @ $3.30 Third purchase @ May 23 600 units @ $3.40 Sales @ May 31 2400 units @ $4.90 If the company uses the weighted average inventory cost flow method, what is the average cost per unit (rounded) for May? 200 Select one: O a. $3.29...
The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 2,000 units...
The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 2,000 units @ $5.60 First purchase @ May 7 2,100 units @ $5.80 Second purchase @ May 17 2,300 units @ $5.90 Third purchase @ May 23 1,900 units @ $6.00 Sales @ May 31 6,300 units @ $7.50 What is the amount of ending inventory assuming the FIFO cost flow method?
The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 2100...
The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 2100 units @ $5.80 First purchase @ May 7 2200 units @ $6.00 Second purchase @ May 17 2400 units @ $6.10 Third purchase @ May 23 2000 units @ $6.20 Sales @ May 31 6600 units @ $7.70 What is the amount of gross margin assuming the weighted-average inventory cost flow method? (Round your intermediate calculations to two decimal places.)
The inventory records for Radford Co. reflected the following Beginning inventory @ May 1 800 units...
The inventory records for Radford Co. reflected the following Beginning inventory @ May 1 800 units @ $ 3.20 First purchase @ May 7 900 units @ $ 3.40 second purchase @ May 17 1,100 units @ $ 3.50 Third purchase @ May 23 700 units @ $ 3.60 Sales @ May 31 2,700 units @ $ 5.10 Determine the weighted average cost per unit (rounded) for May.
The inventory records for Radford Co. reflected the following Beginning inventory@May 1 100 units $4.00 First...
The inventory records for Radford Co. reflected the following Beginning inventory@May 1 100 units $4.00 First purchase@May 7 Second purchase @May 17 Third purchase @ May 23 Sales@ May 31 300 units@ $4.40 500 units $4.60 100 units $4.80 900 units $7.80 13. Determine the amount of cost of goods sold assuming the LIFO cost flow method. A. $4,100 B. $4,320 C. $2,360 D. $3,600 15. Determine the amount of gross margin assuming the weighted average cost flow method. A....
Test 2 Help Darlington Company entered into the following business the perpetual inventory system. during its...
Test 2 Help Darlington Company entered into the following business the perpetual inventory system. during its first month of operations. The company uses 1) The company purchased $12,700 of merchandise on account under terms 4/10,n/30. 2) The company returned $2,200 of merchandise to the supplier before payment was made. 3) The liability was paid within the discount period. 4) All of the merchandise purchased was sold for $19,400 cash. Part 2 of 2 points What is the gross margin that...
SB The inventory records for Radford... [The following information applies to the questions displayed below.] The inven...
SB The inventory records for Radford... [The following information applies to the questions displayed below.] The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 1,000 units @ $3.60 First purchase @ May 7 1,100 units @ $3.80 Second purchase @ May 17 1,300 units @ $3.90 Third purchase @ May 23 900 units @ $4.00 Sales @ May 31 3,300 units @ $5.50 TB MC Qu. 05-42 What is the amount of ending inventory assuming…...
The inventory records for Radford Co. reflected the following Beginning inventory @ May 1 First purchase @ May 7 second purchase @ May 17 Third purchase @ May 23 Sales @ May 31 1,200 units @ $4.00 1,300 units @ $4.20 1,500 units @ $4.30 1,100 units @ $4.40 3,900 units @ $5.90 Determine the amount of cost of goods sold assuming the LIFO cost flow method. Multiple Choice $15,600 $16,750 < Prev 6 of 11 Next >
The inventory records for Radford Co. reflected the following Beginning inventory @ May 1 First purchase @ May 7 second purchase @ May 17 Third purchase @ May 23 300 units e $2.20 400 units e $2.40 600 units @ $2.50 200 units @ $2.60 Sales @ May 31 1, 200 units @ $4.10 Determine the amount of ending inventory assuming the FIFO cost flow method. Multiple Choice $770 $780 Determine the amount of ending inventory assuming the FIFO cost...
The inventory records for Radford Co. reflected the following 1 لا o لا Beginning inventory @ May 1 First purchase @ May 7 second purchase @ May 17 Third purchase @ May 23 Sales @ May 31 , 200 units @ $4.00 1,300 units @ $4.20 1,500 units @ $4.30 1,100 units @ $4.40 3,900 units @ $5.90 o لا o o Determine the amount of cost of goods sold assuming the LIFO cost flow m Domino Company uses the...
The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 700 units @ $3.00 First purchase @ May 7 800 units @ $3.20 Second purchase @ May 17 1000 units @ $3.30 Third purchase @ May 23 600 units @ $3.40 Sales @ May 31 2400 units @ $4.90 If the company uses the weighted average inventory cost flow method, what is the average cost per unit (rounded) for May? 200 Select one: O a. $3.29...
The inventory records for Radford Co. reflected the following Beginning inventory@May 1 100 units $4.00 First purchase@May 7 Second purchase @May 17 Third purchase @ May 23 Sales@ May 31 300 units@ $4.40 500 units $4.60 100 units $4.80 900 units $7.80 13. Determine the amount of cost of goods sold assuming the LIFO cost flow method. A. $4,100 B. $4,320 C. $2,360 D. $3,600 15. Determine the amount of gross margin assuming the weighted average cost flow method. A....
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