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The following are the inventory purchase and sales transactions of Packers Corp: Description Units Cost/Unit $40...
The following are the inventory purchase and sales transactions of Packer Corp:
The following are the inventory purchase and sales transactions of Packers Corp: Description Units Cost/Unit $40 $42 Price/Unit Date Balance Purchase Jan. 1 Jan. 5 Jan. 8 Jan. 15 Purchase Jan. 25 Sale 30 20 $80 Sale 35 $40 50 $80 40 Use the information above to answer the below questions. Round to the nearest dollar. Question 10 (0.001 points) Saved Please feel free to utilize the templates provided below. Q 15. The total ending inventory of Jan 31 that would...
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 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...
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...
Ferris Company began January with 7,000 units of its principal product. The cost of each unit...
Ferris Company began January with 7,000 units of its principal
product. The cost of each unit is $9. Merchandise transactions for
the month of January are as follows:
Purchases
Date of Purchase
Units
Unit Cost*
Total Cost
Jan. 10
6,000
$
10
$
60,000
Jan. 18
7,000
11
77,000
Totals
13,000
137,000
* Includes purchase price and cost of freight.
Sales
Date of Sale
Units
Jan. 5
3,000
Jan. 12
1,000
Jan. 20
4,000
Total
8,000
12,000 units were on...
Sales during the year were 700 units. Beginning inventory was 400 units at a cost of...
Sales during the year were 700 units. Beginning inventory was 400 units at a cost of $10 per unit. Purchase 1 was 500 units at $12 per unit. Purchase 2 was 300 units at $14 per unit. Required: a. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. (Enter all values as a positive value.) Periodic FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods #...
3 Ferris Company began 2016 with 6,000 units of its principal product. The cost of each unit is $...
3 Ferris Company began 2016 with 6,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January 2016 are as follows Purchases 1.5 points Date of Purchase Jan. 10 Jan. 18 Unit Units Cost Total Cost 5,000 $10 $50,000 6,000 eBook 66,000 Print Totals 11,000 $116,000 References Includes purchase price and cost of freight. Sales Date of Units 3,000 2,000 4,000 Sale Jan. 5 Jan. 12 Jan. 20 Total 9,000 8,000...
Ferris Company began January with 9,000 units of its principal product. The cost of each unit...
Ferris Company began January with 9,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 6,000 $ 9 $ 54,000 Jan. 18 9,000 10 90,000 Totals 15,000 144,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 5,000 Jan. 12 3,000 Jan. 20 6,000 Total 14,000 10,000 units were on...
Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 190 units...
Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 190 units @ $ 7.00 = $ 1,330 Jan. 10 Sales 150 units @ $ 16.00 Jan. 20 Purchase 110 units @ $ 6.00 = 660 Jan. 25 Sales 130 units @ $ 16.00 Jan. 30 Purchase 280 units @ $ 5.50 = 1,540 Totals 580 units $ 3,530 280 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 300...
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...
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 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...
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...
Ferris Company began January with 7,000 units of its principal
product. The cost of each unit is $9. Merchandise transactions for
the month of January are as follows:
Purchases
Date of Purchase
Units
Unit Cost*
Total Cost
Jan. 10
6,000
$
10
$
60,000
Jan. 18
7,000
11
77,000
Totals
13,000
137,000
* Includes purchase price and cost of freight.
Sales
Date of Sale
Units
Jan. 5
3,000
Jan. 12
1,000
Jan. 20
4,000
Total
8,000
12,000 units were on...
Sales during the year were 700 units. Beginning inventory was 400 units at a cost of $10 per unit. Purchase 1 was 500 units at $12 per unit. Purchase 2 was 300 units at $14 per unit. Required: a. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. (Enter all values as a positive value.) Periodic FIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods #...
3 Ferris Company began 2016 with 6,000 units of its principal product. The cost of each unit is $9. Merchandise transactions for the month of January 2016 are as follows Purchases 1.5 points Date of Purchase Jan. 10 Jan. 18 Unit Units Cost Total Cost 5,000 $10 $50,000 6,000 eBook 66,000 Print Totals 11,000 $116,000 References Includes purchase price and cost of freight. Sales Date of Units 3,000 2,000 4,000 Sale Jan. 5 Jan. 12 Jan. 20 Total 9,000 8,000...
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...
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