Homework Answers
Answer $2,850
May 10 - $140X12 = $1,680
May 24 -. $90 X 23 = $1,170
Total $2,850
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Question Completion Status: O 0.21 QUESTION 5 Salmone Company reported the following purchases and sales for...
Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual...
Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 150 units @ $10.00 5 Purchase 220 units @ $12.00 10 Sales 140 units @ $20.00 15 Purchase 100 units @ $13.00 24 Sales 90 units @ $21.00 Multiple Choice $2,590 $2,980 $2,460 $2,860 $2,850
QUESTION 8 Salmone Company reported the following purchases and sales of its only product. Salmone uses...
QUESTION 8 Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Units Sold at Retail Date May 1 Units Acquired at Cost 150 units a $10.00 220 units @ $12.00 Activities Beginning Inventory Purchase Sales Purchase Sales 10 140 units @ $20.00 100 units @ $13.00 90 units @ $21.00 $2,980 O $2,460 $2,850 $2,590 O $5,440
Strods Company reported the following purchases and sales for its only product. Strods uses a perpetual...
Strods Company reported the following purchases and sales for its only product. Strods uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 150 units @ $10.00 5 Purchase 220 units @ $12.00 10 Sales 140 units @ $20.00 15 Purchase 100 units @ $13.00 24 Sales 90 units @ $21.00 $2,860 $2,460 $2,590 $2,850 $2,980 140@12=1680 90@13=1170 =2850
5-Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic...
5-Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail Date Activities May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales Units Acquired at Cost 150 units @ $10.00 220 units @ $12.00 140 units @ $20.00 100 units @ $13.00 90 units @ $21.00
Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual...
Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 150 units @ $10.00 5 Purchase 220 units @ $12.00 10 Sales 140 units @ $20.00 15 Purchase 100 units @ $13.00 24 Sales 150 units @ $21.00 $2,260 $3,180 $1,860 $3,580 $2,100
Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetua/inventory...
Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetua/inventory system. Determine the cost assigned to cost of goods sold using LIFO. Units Sold at Retail Date Activities May 1Beginning Inventory 5 Purchase 10 Sales L 15 Purchase 24Sales Units Acquired at Cost 150 units @ $10.00 220 units a $12.00 E DELSE 100 units $13.00 140 units a $20.00 150 units @ $21.00 Multiple Choice
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetua/inventory...
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetua/inventory system. Determine the cost assigned to cost of goods sold using FIFO. Units Sold at Retail Units Acquired at Cost 150 units @ $10.00 220 units a $12.00 1 100 units a $13.00 220 Date Activities May 1Beginning Inventory 5Purchase 10 Sales 15 Purchase 24 Sales ltea $12 od 140 units @ $20.00 150 units @ $21.00 Multiple Choice O $2,260 $3,180
perch company reported the following purchases and sales for its only product. Perch uses a perpetual...
perch company reported the following purchases and sales for its only product. Perch uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using both LIFO and FIFO Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 150 units @ $10.00 May 5 Purchase 220 units @ $12.00 May 10 Sales 140 units @ $20.00 May 15 Purchase 100 units @ $13.00 May 24 Saled 150 units @ $21.00
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual...
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail Date May 1 Units Acquired at Cost 220 units @ $17 255 units @ $19 Activities Beginning Inventory Purchase Sales Purchase Sales 10 175 units @ $27 15 135 units @ $20 24 125 units @ $28 Multiple Choice o O S5,940 • $5,260 o О $6,025 o $11,...
Salmone Company reported the following purchases and sales of its only product Salmone uses a criodic...
Salmone Company reported the following purchases and sales of its only product Salmone uses a criodic inventory system. Determine the cost assigned to ending inventory using LIFO Units Sold at Retail Units Acquired at Cost 330 units @ $18 310 units & $20 Date May 1 5 16 15 24 Activities Beginning Inventory Purchase Sales Purchase Sales 238 units @ $28 pairis 190 units @ $21 (8 0222308 182 units @ $29 Mullu Choice O $7,740 o $5908 O S9,140...
QUESTION 8 Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Units Sold at Retail Date May 1 Units Acquired at Cost 150 units a $10.00 220 units @ $12.00 Activities Beginning Inventory Purchase Sales Purchase Sales 10 140 units @ $20.00 100 units @ $13.00 90 units @ $21.00 $2,980 O $2,460 $2,850 $2,590 O $5,440
5-Salmone Company reported the following purchases and sales of its only product. Salmone uses a periodic inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail Date Activities May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales Units Acquired at Cost 150 units @ $10.00 220 units @ $12.00 140 units @ $20.00 100 units @ $13.00 90 units @ $21.00
Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetua/inventory system. Determine the cost assigned to cost of goods sold using LIFO. Units Sold at Retail Date Activities May 1Beginning Inventory 5 Purchase 10 Sales L 15 Purchase 24Sales Units Acquired at Cost 150 units @ $10.00 220 units a $12.00 E DELSE 100 units $13.00 140 units a $20.00 150 units @ $21.00 Multiple Choice
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetua/inventory system. Determine the cost assigned to cost of goods sold using FIFO. Units Sold at Retail Units Acquired at Cost 150 units @ $10.00 220 units a $12.00 1 100 units a $13.00 220 Date Activities May 1Beginning Inventory 5Purchase 10 Sales 15 Purchase 24 Sales ltea $12 od 140 units @ $20.00 150 units @ $21.00 Multiple Choice O $2,260 $3,180
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO. Units Sold at Retail Date May 1 Units Acquired at Cost 220 units @ $17 255 units @ $19 Activities Beginning Inventory Purchase Sales Purchase Sales 10 175 units @ $27 15 135 units @ $20 24 125 units @ $28 Multiple Choice o O S5,940 • $5,260 o О $6,025 o $11,...
Salmone Company reported the following purchases and sales of its only product Salmone uses a criodic inventory system. Determine the cost assigned to ending inventory using LIFO Units Sold at Retail Units Acquired at Cost 330 units @ $18 310 units & $20 Date May 1 5 16 15 24 Activities Beginning Inventory Purchase Sales Purchase Sales 238 units @ $28 pairis 190 units @ $21 (8 0222308 182 units @ $29 Mullu Choice O $7,740 o $5908 O S9,140...
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