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k%20-%20Weees202%20(includes%20Chapters%204, 6)html Question text nventory Costing Methods and the Perpetual Method McKay & Company experienced the...
Inventory Costing Methods and the Perpetual Method McKay & Company experienced the following events in March:...
Inventory Costing Methods and the Perpetual Method McKay & Company experienced the following events in March: Date Event Units Unit Cost Total Cost Mar. 1 Purchased inventory 100 @ $33 $3,300 Mar. 3 Sold inventory 60 Mar. 15 Purchased inventory 100 @ $36 $3,600 Mar. 20 Sold inventory 40 Assume the perpetual inventory system is used. Use the weighted-average inventory costing method to calculate the company’s cost of goods sold and ending inventory as of March 31. Round weighted-average cost...
Inventory Costing Methods and the Perpetual Method Mckay & Company experienced the following events in March:...
Inventory Costing Methods and the Perpetual Method Mckay & Company experienced the following events in March: Date Event Units Unit Cost Total Cost Mar.1 Purchased inventory 100 $35 $3,500 Mar. 3 Sold inventory entory 60 Mar. 15 Purchased inventory 100 $38 $3,800 Mar. 20 Sold inventory 40 Assume the perpetual inventory system is used. Use the weighted average inventory costing method to calculate the company's cost of goods sold and ending inventory as of March 31. Round weighted average cost...
Inventory Costing Methods-Perpetual Method Shiloh Company uses the perpetual inventory system for its merchandise inventory. The...
Inventory Costing Methods-Perpetual Method Shiloh Company uses the perpetual inventory system for its merchandise inventory. The June 1 inventory for one of the items in the merchandise inventory consisted of 60 units with a unit cost of $60. Transactions for this item during June were as follows: June 5 Purchased 40 units @ $70 per unit 13 Sold 50 units @ 110 per unit 25 Purchased 30 units @ 72 per unit 29 Sold 20 units Required a. Calculate the...
Inventory Costing Methods-Perpetual Method Using the data below, assume that Graham Corporation uses the perpetual inventory...
Inventory Costing Methods-Perpetual Method Using the data below, assume that Graham Corporation uses the perpetual inventory system. Calculate the value of ending inventory and cost of goods sold for the year using the perpetual method and (a) first.in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Units Unit Cost Beginning inventory, January 1,200 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 March 1 July 1 1,400 October 29 1,000 Round the cost per unit to 3 decimal...
Inventory Costing Methods-Perpetual Method Merritt Company uses the perpetual inventory system. The following May data are...
Inventory Costing Methods-Perpetual Method Merritt Company uses the perpetual inventory system. The following May data are for an item in Merritt's inventory: May 1 Beginning inventory 170 unit@ $32 per unit 12 Purchased 120 unit@ $37 per unit 16 sold 190 unit@ 24 Purchased 180 unit@ $38 per unit Calculate the cost of goods sold for the May 16 sale using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Round your final answers to the nearest...
Inventory Costing Methods—Perpetual Method The Luann Company uses the perpetual inventory system. The following July data...
Inventory Costing Methods—Perpetual Method The Luann Company uses the perpetual inventory system. The following July data are for an item in Luann’s inventory: July 1 Beginning inventory 30 Units@ $9 per unit 10 Purchased 50 Units@ $11 per unit 15 sold 60 Units 26 Purchased 25 Units@ $13 per unit Calculate the cost of goods sold for the July 15 sale using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Round your final answers to the...
Inventory Costing Methods-Perpetual Method The Luann Company uses the perpetual inventory system. The following July data...
Inventory Costing Methods-Perpetual Method The Luann Company uses the perpetual inventory system. The following July data are for an item in Luann's inventory: July 1 Beginning inventory 30 units @ 10 Purchased $9 per unit 50 units @$11 per unit 15 Sold 60 units 26 Purchased 25 units @$13 per unit Calculate the cost of goods sold for the July 15 sale using (a) first-in, first-out, (b) last-in, first- out, and (c) the weighted-average cost methods. Round your final answers...
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...
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 100 units @ $50.00 per unit 400 units @ $55.00 per unit 420 units @ $85.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 120 units @ $60.00 per unit 200 units @ $62.00 per unit 160 units...
__________ ____________ __________ ______________ Inventory Costing Methods - Periodic Method The Kali Company uses...
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Inventory Costing Methods - Periodic Method The Kali Company uses the periodic inventory system for its merchandise inventory. The June 1 inventory for one of the items in the merchandise inventory consisted of 60 units with a unit cost of $45. Transactions for this item during June were as follows: June 5 Purchased 40 units @ $50 per unit 13 Sold 50 units @ $95 per unit 25 Purchased 40 units @ $53 per unit 29...
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...
Inventory Costing Methods and the Perpetual Method Mckay & Company experienced the following events in March: Date Event Units Unit Cost Total Cost Mar.1 Purchased inventory 100 $35 $3,500 Mar. 3 Sold inventory entory 60 Mar. 15 Purchased inventory 100 $38 $3,800 Mar. 20 Sold inventory 40 Assume the perpetual inventory system is used. Use the weighted average inventory costing method to calculate the company's cost of goods sold and ending inventory as of March 31. Round weighted average cost...
Inventory Costing Methods-Perpetual Method Using the data below, assume that Graham Corporation uses the perpetual inventory system. Calculate the value of ending inventory and cost of goods sold for the year using the perpetual method and (a) first.in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Units Unit Cost Beginning inventory, January 1,200 Purchases: February 11 1,500 May 18 1,400 October 23 1,100 March 1 July 1 1,400 October 29 1,000 Round the cost per unit to 3 decimal...
Inventory Costing Methods-Perpetual Method The Luann Company uses the perpetual inventory system. The following July data are for an item in Luann's inventory: July 1 Beginning inventory 30 units @ 10 Purchased $9 per unit 50 units @$11 per unit 15 Sold 60 units 26 Purchased 25 units @$13 per unit Calculate the cost of goods sold for the July 15 sale using (a) first-in, first-out, (b) last-in, first- out, and (c) the weighted-average cost methods. Round your final answers...
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 100 units @ $50.00 per unit 400 units @ $55.00 per unit 420 units @ $85.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 120 units @ $60.00 per unit 200 units @ $62.00 per unit 160 units...
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Inventory Costing Methods - Periodic Method The Kali Company uses the periodic inventory system for its merchandise inventory. The June 1 inventory for one of the items in the merchandise inventory consisted of 60 units with a unit cost of $45. Transactions for this item during June were as follows: June 5 Purchased 40 units @ $50 per unit 13 Sold 50 units @ $95 per unit 25 Purchased 40 units @ $53 per unit 29...
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...
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