Simple Plan Enterprises uses a periodic inventory system. Its records showed the following: Inventory, December 31, using FIFO → 42 Units @ $16 = $672 Inventory, December 31, using LIFO → 42 Units @ $12 = $504 Transactions in the Following Year Units U
Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Add Answer to:
Simple Plan Enterprises uses a periodic inventory system. Its records showed the following: Inventory, December 31, using FIFO → 42 Units @ $16 = $672 Inventory, December 31, using LIFO → 42 Units @ $12 = $504 Transactions in the Following Year Units U
Please answer with detail Simple Plan Enterprisee uses a perlodic Inventory system. Its records showed the...
Please answer with detail
Simple Plan Enterprisee uses a perlodic Inventory system. Its records showed the foliowng: Iriventory, Decenber 31, using FIFO 44 Units $19 $a38 Irivenlory, December 31, using LIFO44 Urits515 SBã0 Transaclions in the Folkowing Year Purchase, January 9 Purchase, January 20 Sale, January 11, at $43 per unit) Sale, Jauary 27(at $44 per unit Units Unil Cost Tolal Cast 56 $20 106 86 62 21 2,226 1. Compute the nunber and cost of goods available for sale,...
Flash Company uses the FIFO cost method in a periodic inventory system. At December 31, 2021,...
Flash Company uses the FIFO cost method in a periodic inventory system. At December 31, 2021, the accounting records provided the following information: (1) Inventory, December 31, 2020: 2,300 units with a unit cost of $8 each. (2) Purchase, April 1, 2021: 5,000 units with a unit cost of $9 each. (3) Purchase, July 31, 2021: 3,000 units with a unit cost of $7 each. (4) Inventory, December 31, 2021: 4,000 units. What is the total cost of sales in...
Assume that Sparks uses a periodic FIFO inventory system. Its ending inventory consists of 9 units.
Assume that Sparks uses a periodic FIFO inventory system. Its ending inventory consists of 9 units. Calculate the dollar value of its ending Inventory.Jan. 1Beginning Inventory 10@$12Jan. 5Purchase10@$15Jan. 30Purchase10@$18Feb. 8Sale21 units
Clor Company uses a periodic inventory system. At December 31, 2017, the accounting records provided the...
Clor Company uses a periodic inventory system. At December 31, 2017, the accounting records provided the following information for Product 1: Units Unit Cost Inventory, December 31, 2016 3,000 $ 8 For the year 2017: Purchases, March 31 5,000 9 Purchases, August 1 2,000 7 Inventory, December 31, 2017 4,000 Required: Compute the cost of sales and the ending inventory under the FIFO and weighted-average costing methods.
Capwell Corporation uses a periodic inventory system. The company's ending inventory on December 31, 2018, Its...
Capwell Corporation uses a periodic inventory system. The company's ending inventory on December 31, 2018, Its fiscal-year end, based on a physical count, was determined to be $341,000. Capwell's unadjusted trial balance also showed the following account balances Purchases, $770,000, Accounts payable; $285,000; Accounts receivable, $300,000, Sales revenue, $950,000 The internal audit department discovered the following items 1. Goods valued at $47,000 held on consignment from Dix Company were included in the physical count but not recorded as a purchase....
Riverbed Corp uses a periodic inventory system. Its records show the following for the month of...
Riverbed Corp uses a periodic inventory system. Its records show the following for the month of May, in which 75 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 34 $8 $272 15 Purchase 26 9 234 24 Purchase 40 10 400 Total 100 $906 Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round...
Ballas Co. uses a periodic inventory system. Its records show the following for the month of...
Ballas Co. uses a periodic inventory system. Its records show
the following for the month of May, in which 148 units were
sold.
Unit Units Cost Total Cost May 1 Inventory65 15 Purchases55 24 Purchases 76 196 $9 12 13 $585 660 988 $2,233 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 Cost of goods sold
Concord Co, uses a periodic inventory system. Its records show the following for the month of...
Concord Co, uses a periodic inventory system. Its records show the following for the month of May, in which 72 units were sold. Unit Units Cost Total Cost May 1 Inventory 37 $11 $407 15 Purchases 350 24 Purchases 480 $1237 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31$ Cost of goods sold
Cullumber Company uses a periodic inventory system. Its records show the following for the month of...
Cullumber Company uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 34 $9 $306 15 Purchase 26 10 260 24 Purchase 40 11 440 Total 100 $1,006 Incorrect answer iconYour answer is incorrect. Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average unit cost $ Calculate the ending inventory at May 31 using...
Headlands Industries uses a periodic inventory system. Its records show the following for the month of...
Headlands Industries uses a periodic inventory system. Its
records show the following for the month of May, in which 77 units
were sold.
Date
Explanation
Units
Unit Cost
Total Cost
May 1
Inventory
34
$10
$340
15
Purchase
26
11
286
24
Purchase
40
12
480
Total
100
$1,106
Calculate the weighted-average unit cost. (Round
answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost
$Enter the Weighted-average unit cost in dollars
LINK TO TEXT
LINK TO VIDEO
Calculate the...
Please answer with detail
Simple Plan Enterprisee uses a perlodic Inventory system. Its records showed the foliowng: Iriventory, Decenber 31, using FIFO 44 Units $19 $a38 Irivenlory, December 31, using LIFO44 Urits515 SBã0 Transaclions in the Folkowing Year Purchase, January 9 Purchase, January 20 Sale, January 11, at $43 per unit) Sale, Jauary 27(at $44 per unit Units Unil Cost Tolal Cast 56 $20 106 86 62 21 2,226 1. Compute the nunber and cost of goods available for sale,...
Capwell Corporation uses a periodic inventory system. The company's ending inventory on December 31, 2018, Its fiscal-year end, based on a physical count, was determined to be $341,000. Capwell's unadjusted trial balance also showed the following account balances Purchases, $770,000, Accounts payable; $285,000; Accounts receivable, $300,000, Sales revenue, $950,000 The internal audit department discovered the following items 1. Goods valued at $47,000 held on consignment from Dix Company were included in the physical count but not recorded as a purchase....
Ballas Co. uses a periodic inventory system. Its records show
the following for the month of May, in which 148 units were
sold.
Unit Units Cost Total Cost May 1 Inventory65 15 Purchases55 24 Purchases 76 196 $9 12 13 $585 660 988 $2,233 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 Cost of goods sold
Concord Co, uses a periodic inventory system. Its records show the following for the month of May, in which 72 units were sold. Unit Units Cost Total Cost May 1 Inventory 37 $11 $407 15 Purchases 350 24 Purchases 480 $1237 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31$ Cost of goods sold
Headlands Industries uses a periodic inventory system. Its
records show the following for the month of May, in which 77 units
were sold.
Date
Explanation
Units
Unit Cost
Total Cost
May 1
Inventory
34
$10
$340
15
Purchase
26
11
286
24
Purchase
40
12
480
Total
100
$1,106
Calculate the weighted-average unit cost. (Round
answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost
$Enter the Weighted-average unit cost in dollars
LINK TO TEXT
LINK TO VIDEO
Calculate the...
Most questions answered within 3 hours.
-
Nicardipine HCl is administered in the short-term treatment of
hypertension by slow IV infusion as a...
asked 50 seconds ago -
An ant positioned on the very edge of a Beatles record that is
13.80 cm in...
asked 15 minutes ago -
Using MATLAB to plot the trajectory of a projectile:
Consider a cannon launching a cannonball at...
asked 20 minutes ago -
Explain, why even though there are thousands of types of natural
pollinator, honeybees are exceptionally important...
asked 31 minutes ago -
In java please Create an immutable class named Card implementing
the Comparable interface that will represent...
asked 35 minutes ago -
how
much sulfur dioxide SO2 can be produced by the combustion of 21
tons of sulfur...
asked 36 minutes ago -
A. Suppose Company A is selling notebooks in California, and the
demand function for the notebooks...
asked 51 minutes ago -
in C++, please help. Not only do we need to create an ADT but
create a...
asked 1 hour ago -
This question is based on react js. Please don't do it if you
don't have thorough...
asked 1 hour ago -
(CO E) A zombie computer is one that can result in
a denial of service attack...
asked 1 hour ago -
A company manufactures in a foreign country and sells only to US
customers so that revenue...
asked 1 hour ago -
(a) A 25.0mL of a unknwon concentration of HBr solution is
titrated with 0.100M NaOH solution....
asked 1 hour ago