Question

QUESTION 16 1. Information for Questions 16 and 17: The Cougar Clothing Store (CCS) purchased inventory on a particular item

0 0
Add a comment Improve this question Transcribed image text
Answer #1

16) Ending inventory = (100*5+300*10+100*15) = 5000

So answer is c) $5000

17) Cost of goods available for sale = (200*5+500*10+800*15) = 18000

Cost of goods sold = 18000-5000 = 13000

So answer is b) $13000

Add a comment
Know the answer?
Add Answer to:
QUESTION 16 1. Information for Questions 16 and 17: The Cougar Clothing Store (CCS) purchased inventory...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The ABC's purchased inventory on a particular item as follows: August 10: 200 units at $5.00...

    The ABC's purchased inventory on a particular item as follows: August 10: 200 units at $5.00 • August 20: 500 units at $10.00 • August 30: 800 units at $15.00 ABC had no beginning inventory for the item and has 500 units on hand as of August 31. Assume that the specific identification method is used and that the ending item inventory consists of 100 units from the August 10 purchase, 300 units from the August 20 purchase, and 100...

  • QUESTION 13 An asset with a life of 7 years was purchased 4 years ago at...

    QUESTION 13 An asset with a life of 7 years was purchased 4 years ago at a cost of $10,000. It now has a book value of $5,200 based on straight-line depreciation. The asset's expected salvage value is closest to: a. $1,600 b. $1,200 c. $2,000 d. $1,000 QUESTION 14 The sum-of-the-year's-digits (SOYD) method of depreciation is: a the method of depreciation that gives the same annual depreciation expense during an asset's useful life. the method of depreciation that gives...

  • Required information (The following information applies to the questions displayed below.) Laker Company reported the following...

    Required information (The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Date Activities Jan. 1 Beginning van inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 185 units @ $11.00 - $2,035 145 units @ $ 20.00 100 units @ $10.00 - 1,000 125 units @ $20.00 270 units @ $ 9.50 -...

  • 21. Storme Shutters has the following inventory information. Nov. 1 Inventory 30 units @ $8.00 8...

    21. Storme Shutters has the following inventory information. Nov. 1 Inventory 30 units @ $8.00 8 Purchase 120 units @ $8.30 17 Purchase 60 units @ $8.40 25 Purchase 90 units @ $8.80 A physical count of merchandise inventory on November 30 reveals that there are 80 units on hand. Assume a periodic inventory system is used. Assuming that the specific identification method is used and that ending inventory consists of 20 units from each of the three purchases and...

  • can someone help me as soon as possible please Specific Identification, FIFO, LIFO, and Weighted Average...

    can someone help me as soon as possible please Specific Identification, FIFO, LIFO, and Weighted Average Boyce Company's beginning inventory and purchases during the fiscal year ended September 30, 20-2, are shown. October 1, 20-1 Beginning inventory October 18 1st purchase November 25 2nd purchase January 12, 20-2 3rd purchase March 17 4th purchase Units Unit Price Total Cost 400 $15.00 $6,000 300 16.50 4,950 600 17.00 10,200 700 17.25 12,075 800 18.00 14,400 400 19.00 7,600 300 21.00 6,300...

  • Sheridan Company has the following inventory data: Nov. 1 Inventory 25 units @ $5.00 each 8...

    Sheridan Company has the following inventory data: Nov. 1 Inventory 25 units @ $5.00 each 8 Purchase 101 units @ $5.40 each 17 Purchase 50 units @ $5.30 each 25 Purchase 76 units @ $5.50 each A physical count of merchandise inventory on November 30 reveals that there are 84 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 25 units from each of the three purchases and 9 units from the...

  • Check my work because its wrong please Required Informetlon Use the following information for the Exercises...

    Check my work because its wrong please Required Informetlon Use the following information for the Exercises below The following Information applies to the questions displayed below.j Hemming Co. reported the following current-year purchases and sales for Its only product. Activities Units Acquired at Cost Date Jan. 1 Beginning inventory Jan. 18 Sales Mar.14 Purchase Mar. 15 Sales July 38 Purchase Oct. 5 Sales Oct. 26 Purchase 288 units$18 -2,88 358 units$155,258 458 units$28 9,88 ee units @ $25 2.5ee Units...

  • Required information [The following information applies to the questions displayed below.] Laker Company reported the following...

    Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 240 units @ $ 16.50 = $ 3,960 Jan. 10 Sales 190 units @ $ 25.50 Jan. 20 Purchase 170 units @ $ 15.50 = 2,635 Jan. 25 Sales 190 units @ $ 25.50 Jan. 30 Purchase 380 units @ $...

  • Required information Use the following information for the Exercises below. [The following information applies to the...

    Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Units sold at Activities Units Acquired at Cost Retail Jan. 1 Beginning inventory 140 units @ $6.00 = $ 840 Jan. 10 Sales 100 units @ $15 Jan. 20 Purchase 60 units @ $5.00 = 300 Jan. 25 Sales se units @ $15 Jan. 30 Purchase 180...

  • Required information [The following information applies to the questions displayed below.) Laker Company reported the following...

    Required information [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Units Acquired at Cost 140 units @ $6.00 = $ 840 Units sold at Retail 100 units @ $ 15 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 60 units @ $5.00 = 300 80 units @ $ 15 180 units @ $4.50 =...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT