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QUESTION 1 Maxim Corp. has provided the following information about one of its products: Date Transaction...
Maxim Corp. has provided the following information about one of its products: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 260 $ 152 6/5 Purchase 460 $ 172 11/10 Purchase 160 $ 212 During the year, Maxim sold 520 units. What is ending inventory using the average cost method? (Do not round intermediate computations.) $77,120. $62,411. $79,120. $64,411.
Lauer Corporation has provided the following information about one of its laptop computers: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 160 $ 860 5/5 Purchase 260 $ 960 8/10 Purchase 360 $ 1,060 10/15 Purchase 230 $ 1,110 During the year, Lauer sold 900 laptop computers. What was ending inventory using the FIFO cost flow assumption?
Weaver Corp. has the following inventory information available for the month of March: Date Number of Units Cost per unit March 1 Beginning Inventory 20 $20.00 March 10 Purchases 30 $25.00 Weaver sold 40 units in March. Question: What is the total cost of goods sold for March using the average-cost cost method? Round average cost per unit to the nearest penny before computing total cost of goods sold.
Wrigley Corp. has the following inventory information available for the month of July: Date Number of Units Cost per unit July 1 Beginning Inventory 25 $21.00 July 10 Purchases 30 $28.33 Wrigley sold 35 units in July. Question: What is the total cost of goods sold for July using the average-cost method? Round average cost per unit to the nearest penny before computing total cost of goods sold. Answer: $
12. Inventory records for Dunbar Incorporated revealed the following Number of Unit 100 Date Transaction A l leginning inventory Apr 20 Purchase Unit Coul SIR >0 Total Cou S7,200.00 51125000 D harsold 700 units of inventory during the month Cost of goods sold assuming FIFO would be ASSO B. 512.000 C.513.950 D. 515.750 13. Inventory records for Dunbar Incorporated revealed the following Date JA I Apr. 20 Transaction Beginning inventory Number of Units 100 Unit Cost $18.00 Total Cost 57,200.00...
36. Inventory records for DAD Incorporated revealed the following: Date Apr. 1 Transaction Beginning inventory Purchase Number of Units 50 450 Unit Cost $123.00 $130.00 Apr. 4 DAD sold 490 units of inventory during the month. Ending Inventory assuming LIFO would be $_ Chapter 6 Page 6-4 37. Inventory records for MOM Company revealed the following: Date Mar. 1 Mar. 6 Mar. 16 Mar 22 Transaction Beginning inventory Purchase Purchase Purba Purchase Number of Units 400 1,000 1,000 1,000 Unit...
Aunt Connie Corp had the following Inventory Aunt Connie Corp makes one sale of 200 units on December 23rd and uses the LIFO method to account for inventory. What is the Cost of Goods Sold in December? What is the Ending inventory in December? Date Transaction Units Cost Total Cost Jan 1 Beg. Inventory 100 $45 $4.500 Jan 10 Purchase 150 $40 $6.000 O Cost of Good Sold 3.500 Ending Inventory $2.000 OR Cost of Good Sold 18.250: Ending Inventory...
ork Chapter #6 Help Save & Number of Units Cost Total Cont Date Transaction Jan. 1 Beginning inventory Mar. 14 Purchase Jun. 9 Purchase Nov.11 Purchase 1,020 1.053 $4,103 For the entire year, the company sells 110 units of inventory for $39 each. 12:37 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost cost per Ending # of units Cost...
Joe's Products Co. had the following purchase transaction during the first quarter of its fiscal year: keer Date Transaction Jan. 1 Jan. 15 Beg. Inv. Purchase Number Per of Units Unit $15 100 Feb. 15 Purchase 120 March 15 Purhcase Joe's Products sold 170 units at $30/unit during the quarter. Of the untis sold, 20 came from beginning inventory, 30 came from the Feb. 25 purchase, and 50 came form the March 15 purchase with the remaining units coming from...
Joe's Products Co. had the following purchase transaction during the first quarter of its fiscal year: - - - T - - - T - - - - Date Number Per Transaction of Units Unit - - - - - - - - - - - - - - - - - - - 50 - - - - - - - - - - - - - - - - - - - - - - - - -...