COST OF GOODS SOLD ON JAN 31 = 690 + 650 = $1340
WORKINGS :
DATE | PARTICULARS | RATE | UNITS |
VALUE (RATE * UNITS) |
BALANCE INVENTORY |
JAN 1 | BEGINNING INVENTORY | 2.5 | 400 | 1000 | 1000 (400 UNITS @ 2.5) |
JAN 12 | PURCHASES | 2.3 | 500 | 1150 |
1000 (400 UNITS @ 2.5) 1150 (500 UNITS @ 2.3) |
JAN 18 | SALES (600 UNITS) |
2.5 2.3 |
(400) (200) |
(1000) (460) |
690 (300 UNITS @ 2.3) |
JAN 21 | PURCHASES | 2.6 | 400 | 1040 |
690 (300 UNITS @ 2.3) 1040 (400 UNITS @ 2.6) |
JAN 25 | PURCHASES | 2.4 | 200 | 480 |
690 (300 UNITS @ 2.3) 1040 (400 UNITS @ 2.6) 480 (200 UNITS @ 2.4) |
JAN 31 | SALES ( 550 UNITS) |
2.3 2.6 |
(300) (250) |
690 650 |
390 (150 UNITS @ 2.6) 480 (200 UNITS @ 2.4) |
Chase Company uses the perpetual inventory method. The inventory records for Chase reflected the following information:...
Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following Jan 1 Beginning inventory 300 units @ $ 2.30 Jan 12 Purchase 400 units @ $ 2.10 Jan 18 Sales 500 units @ $ 3.80 Jan 21 Purchase 300 units @ $ 2.40 Jan 25 Purchase 100 units @ $ 2.20 Jan 31 Sales 450 units @ $ 3.80 Assuming Chase uses a FIFO cost flow method, the cost of goods sold for the sales...
Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following information: Jan 1 Beginning inventory 1,100 units @ $3.90 Jan 12 Purchase 1,200 units @ $3.70 Jan 18 Sales 1,300 units @ $5.40 Jan 21 Purchase 1,100 units @ $4.00 Jan 25 Purchase 900 units @ $3.80 Jan 31 Sales 1,250 units @ $5.40 TB MC Qu. 05-55 Assuming Chase uses a LIFO cost flow... 1. Assuming Chase uses a LIFO cost flow method, what...
Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following Jan 1 Beginning inventory 2,200 units @ $ 6.10 Jan 12 Purchase 2,300 units @ $ 5.90 Jan 18 Sales 2,400 units @ $ 7.60 Jan 21 Purchase 2,200 units @ $ 6.20 Jan 25 Purchase 2,000 units @ $ 6.00 Jan 31 Sales 2,350 units @ $ 7.60 Assuming Chase uses a FIFO cost flow method, the ending inventory on January 31 is: Multiple...
Chase Co. uses the perpetual Inventory method. The inventory records for Chase reflected the following Jan 1 Beginning inventory Jan 12 Purchase Jan 18 Sales Jan 21 Purchase Jan 25 Purchase Jan 31 Sales 2,000 units @ $5.70 2,100 units @ $5.50 2,200 units @ $7.20 2,000 units @ $5.80 1,800 units @ $5.60 2,150 units @ $7.20 Assuming Chase uses a FIFO cost flow method, the cost of goods sold for the sales transaction on January 31 is: Multiple...
Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following information: Jan 1 Beginning inventory 1000 units @ $3.70 Jan 12 Purchase 1100 units @ $3.50 Jan 18 Sales 1200 units @ $5.20 Jan 21 Purchase 1000 units @ $3.80 Jan 25 Purchase 800 units @ $3.60 Jan 31 Sales 1150 units @ $5.20 Assuming Chase uses a LIFO cost flow method, what is the amount of cost of goods sold for the sales transaction...
The inventory records for Radford Co. reflected the following Beginning inventory @ May 1 First purchase @ May 7 second purchase @ May 17 Third purchase @ May 23 300 units e $2.20 400 units e $2.40 600 units @ $2.50 200 units @ $2.60 Sales @ May 31 1, 200 units @ $4.10 Determine the amount of ending inventory assuming the FIFO cost flow method. Multiple Choice $770 $780 Determine the amount of ending inventory assuming the FIFO cost...
Uw MDOS IV ure yer you weru. Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following information 11 Jan 1 Jan 12 Jan 18 Jan 21 Jan 25 Jan 31 Beginning inventory Purchase Sales Purchase Purchase Sales 800 units $3.30 900 units # $3.10 1,000 units $4.80 BOD units $3.40 600 units $3.20 950 units $4.80 00.2004 Assuming Chase uses a LIFO cost flow method, what is the amount of cost of goods sold...
The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019: The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019: Unit Cost $ 30 32 Total Cost $ 4,500 2,240 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number of Units 150 70 (100) 90 140 (100) 50 (100) 38 37 - 36 3,420 5,...
The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2016: The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2016: Unit Cost $ 29 32 Total Cost $ 4,350 2,240 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number of Units 150 70 (100) 90 140 (100) 50 (100) 35 40 3,150 5,600 35 1,750...
Test 2 Help The inventory records for Radford Co. reflected the following: oo 1 Beginning inventory May 1 First purchase May 7 Second purchase May 17 Third purchase. May 23 Sales May 31 ,100 units $3.80 1,200 units $4.00 1.400 units $4.10 .000 units $4.20 3,600 units . $5.70 1 Part 2 of 3 points What is the amount of cost of goods sold assuming the LIFO cost flow method? 3144 1 0 $15,120 t 0 $14740 0 0 <...