Hess Company's inventory records show the following data for the month of September:
| Units | Unit Cost | |||||||
| Inventory, | September 1 | 100 | $3.00 | |||||
| Purchases: | September 8 | 450 | 3.50 | |||||
| September 18 | 300 | 3.70 | ||||||
A physical inventory on September 30 shows 150 units on hand.
Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system.
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Hess Company's inventory records show the following data for the month of September:
Shellhammer Company's inventory records show the following data for the month of September: Units Unit Cost...
Shellhammer Company's inventory records show the following data
for the month of September:
Units
Unit Cost
Inventory,
September 1
100
$3.34
Purchases:
September 8
450
3.50
September 18
350
3.70
A physical inventory on September 30 shows 200 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses LIFO inventory costing and a periodic inventory
system.
Ending inventory
$
Cost of goods sold
$
Bramble Company's inventory records show the following data for the month of September: Units Unit Cost...
Bramble Company's inventory records show the following data for
the month of September:
Units
Unit Cost
Inventory,
September 1
100
$2.85
Purchases:
September 8
440
3.50
September 18
300
4.00
A physical inventory on September 30 shows 160 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses LIFO inventory costing and a periodic inventory
system.
Ending inventory
$enter a value of ending inventory in dollars
Cost of goods sold
$enter a...
Grouper Company's inventory records show the following data for the month of September: Units Unit Cost...
Grouper Company's inventory records show the following data for the month of September: Units Unit Cost $3.20 Inventory, September 1 Purchases: September 8 460 3.60 September 18 300 3.70 A physical inventory on September 30 shows 150 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. Ending inventory $ Cost of goods sold $
Bridgeport Company's inventory records show the following data for the month of September: Units Unit Cost...
Bridgeport Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September 1 90 $2.85 Purchases: September 8 460 $3.50 September 18 300 $3.90 A physical inventory on September 30 shows 160 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system. Ending inventory: $ enter a value of ending inventory in dollars Cost of goods sold: $...
Blue Spruce Company's inventory records show the following data for the month of September: Units Unit...
Blue Spruce Company's inventory records show the following data
for the month of September:
Units
Unit Cost
Inventory,
September 1
95
$2.80
Purchases:
September 8
445
3.40
September 18
300
3.90
A physical inventory on September 30 shows 150 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses FIFO inventory costing and a periodic inventory
system.
Ending inventory
$enter a value of ending inventory in dollars
Cost of goods sold
$enter...
Part II: Problems (40 points) Shellhammer Company's inventory records show the following data for the month...
Part II: Problems (40 points) Shellhammer Company's inventory records show the following data for the month of September: Units Unit Cost Beg. Inventory (9/1) 53.35 Purchases: September 8 400 3.50 September 18 250 3.70 100 A physical inventory count on September 30 shows 200 units on hand. نه لري دي Calculate cost of goods sold if the company uses FIFO inventory costing (10) b. Calculate cost of goods sold if the company uses LIFO inventory costing (10)
CALCU Brief Exercise 196 x Your answer is incorrect. Try again. Blue Spruce Company's inventory records show the fo...
CALCU Brief Exercise 196 x Your answer is incorrect. Try again. Blue Spruce Company's inventory records show the following data for the month of September: Inventory, September 1 Purchases: September 8 September 18 Units Unit Cost 80 $2.90 450 3.50 300 3.90 A physical inventory on September 30 shows 140 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system. Ending inventory Cost of...
The following information is taken from the inventory records of the CNB Company for the month of September: Begi...
The following information is taken from the inventory records of the CNB Company for the month of September: Beginning inventory, 9/1/2018 Purchases: 8,000 units e $10.00 6,000 units $10.70 9,000 units $12.60 9/7 9/25 Sales 8,000 units 9,000 units 9/10 9/29 6,000 units were on bhand at the end of September. Required: 1. Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory. 2. Repeat...
The following information is taken from the inventory records of the CNB Company for the month of September:
The following information is taken from the inventory records of the CNB Company for the month of September: Beginning inventory, 9/1/20218,000units @ $10.00Purchases:9/76,000units @ $10.709/2516,000units @ $10.90Sales:9/106,000units9/2910,000units14,000 units were on hand at the end of September. Required:1. Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory.2. Assuming that CNB uses a perpetual inventory system and employs the average cost method, determine cost of goods sold for September and...
Please help A company reports the following beginning inventory and two purchases for the month of...
Please help
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 400 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 360 80 110 Unit Cost $ 3.50 3.70 3.80 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method....
Shellhammer Company's inventory records show the following data
for the month of September:
Units
Unit Cost
Inventory,
September 1
100
$3.34
Purchases:
September 8
450
3.50
September 18
350
3.70
A physical inventory on September 30 shows 200 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses LIFO inventory costing and a periodic inventory
system.
Ending inventory
$
Cost of goods sold
$
Bramble Company's inventory records show the following data for
the month of September:
Units
Unit Cost
Inventory,
September 1
100
$2.85
Purchases:
September 8
440
3.50
September 18
300
4.00
A physical inventory on September 30 shows 160 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses LIFO inventory costing and a periodic inventory
system.
Ending inventory
$enter a value of ending inventory in dollars
Cost of goods sold
$enter a...
Grouper Company's inventory records show the following data for the month of September: Units Unit Cost $3.20 Inventory, September 1 Purchases: September 8 460 3.60 September 18 300 3.70 A physical inventory on September 30 shows 150 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. Ending inventory $ Cost of goods sold $
Blue Spruce Company's inventory records show the following data
for the month of September:
Units
Unit Cost
Inventory,
September 1
95
$2.80
Purchases:
September 8
445
3.40
September 18
300
3.90
A physical inventory on September 30 shows 150 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses FIFO inventory costing and a periodic inventory
system.
Ending inventory
$enter a value of ending inventory in dollars
Cost of goods sold
$enter...
Part II: Problems (40 points) Shellhammer Company's inventory records show the following data for the month of September: Units Unit Cost Beg. Inventory (9/1) 53.35 Purchases: September 8 400 3.50 September 18 250 3.70 100 A physical inventory count on September 30 shows 200 units on hand. نه لري دي Calculate cost of goods sold if the company uses FIFO inventory costing (10) b. Calculate cost of goods sold if the company uses LIFO inventory costing (10)
CALCU Brief Exercise 196 x Your answer is incorrect. Try again. Blue Spruce Company's inventory records show the following data for the month of September: Inventory, September 1 Purchases: September 8 September 18 Units Unit Cost 80 $2.90 450 3.50 300 3.90 A physical inventory on September 30 shows 140 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses LIFO inventory costing and a periodic inventory system. Ending inventory Cost of...
The following information is taken from the inventory records of the CNB Company for the month of September: Beginning inventory, 9/1/2018 Purchases: 8,000 units e $10.00 6,000 units $10.70 9,000 units $12.60 9/7 9/25 Sales 8,000 units 9,000 units 9/10 9/29 6,000 units were on bhand at the end of September. Required: 1. Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory. 2. Repeat...
Please help
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 400 units. Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 360 80 110 Unit Cost $ 3.50 3.70 3.80 Required: Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method....
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