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000 London Co. uses a periodic inventory system. Its records show the following for the month...
London Co. uses a periodic inventory system is records show the following for the month of...
London Co. uses a periodic inventory system is records show the following for the month of May, in which 80 units were sold. Unit Cost Total Cost May 1 Inventory 35 $8 $ 280 15 Purchases 30 11 330 24 Purchases 12 480 Totais $1090 Instructions Compute the ending inventory at May 31 and cost of goods sold using the (1) FIFO and 2) Weighted Average methods. Prove the amount allocated to cost of goods sold under each method on...
Concord Co, uses a periodic inventory system. Its records show the following for the month of...
Concord Co, uses a periodic inventory system. Its records show the following for the month of May, in which 72 units were sold. Unit Units Cost Total Cost May 1 Inventory 37 $11 $407 15 Purchases 350 24 Purchases 480 $1237 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31$ Cost of goods sold
Coronado Co. uses a periodic inventory system. Its records show the following for the month of...
Coronado Co. uses a periodic inventory system. Its records show
the following for the month of May, in which 74 units were
sold.
Units
Unit Cost
Total Cost
May 1
Inventory
34
$10
$340
15
Purchases
29
13
377
24
Purchases
33
14
462
Totals
96
$1,179
Compute the ending inventory at May 31 and cost of goods sold using
the FIFO and LIFO methods.
FIFO
LIFO
Ending inventory at May 31
$
$
Cost of goods sold
$
$
Ballas Co. uses a periodic inventory system. Its records show the following for the month of...
Ballas Co. uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold. Unit Cost Units Total Cost $240 A May 1 15 24 Inventory Purchases Purchases 30 25 35 $8 11 12 275 420 Totals 90 $935 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO * Ending inventory at May 31 **** ** Cost of goods sold
Ballas Co. uses a periodic inventory system. Its records show the following for the month of...
Ballas Co. uses a periodic inventory system. Its records show
the following for the month of May, in which 148 units were
sold.
Unit Units Cost Total Cost May 1 Inventory65 15 Purchases55 24 Purchases 76 196 $9 12 13 $585 660 988 $2,233 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 Cost of goods sold
Windsor, Inc. uses a periodic inventory system. Its records show the following for the month of...
Windsor, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 88 units were sold. Unit Cost $14 May 1 Inventory 15 Purchases 24 Purchases Totals Units 41 34 47 Total Cost $574 578 846 $1,998 122 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 $ Cost of goods sold
Kingbird, Inc. uses a periodic inventory system. Its records show the following for the month of...
Kingbird, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 130 units were sold. May 1 15 24 Unit Cost $13 1 6 Units 60 50 70 180 Inventory Purchases Purchases Totals Total Cost $780 800 1,190 $2,770 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 Cost of goods sold
The controller of Greene Yard Company is applying the lower-of-cost-or-net realizable basis of valuing its ending...
The controller of Greene Yard Company is applying the lower-of-cost-or-net realizable basis of valuing its ending inventory. The following information is available Market Value Cost Lawnmowers: Self-propelled $16,800 $17,000 Push type Total 19,500 36,300 18,000 35,000 Snowblowers: Manual Self-start Total 30,000 21,000 51,000 $85,800 $86,000 29,800 19,700 49,500 Total inventory Compute the value of the ending inventory by applying the lower-of-cost-or-net realizable basis Total ending inventory
56.5 Horne Inc. uses a periodic inventory system. Its records show the following for the month...
56.5 Horne Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold. Units Date May 1 30 Explanation Inventory Purchase Purchase Total Unit Cost $ 9 10 Total Cost $270 250 418 15 38 $938 Instructions Calculate the ending inventory at May 31 using the (a) FIFO, (b) LIFO, and (c) average- cost methods. (For average-cost, round the average unit cost to three decimal places.) Prove the amount...
Sandhill Co, uses a periodic inventory system. Its records show the following for the month of...
Sandhill Co, uses a periodic inventory system. Its records show the following for the month of May, in which 79 units were sold. Unit Cost Date May 1 Explanation Inventory Units 30 $8 15 15 Purchase Total Cost $240 225 360 $825 24 Purchase 36 10 Total 91 Calculate the ending inventory at May 31 using the FIFO, LIFO and average cost methods. (Round answers to decimal places, s. 125.) FIFO LIFO AVERAGE-COST The ending inventory at May 31 $
London Co. uses a periodic inventory system is records show the following for the month of May, in which 80 units were sold. Unit Cost Total Cost May 1 Inventory 35 $8 $ 280 15 Purchases 30 11 330 24 Purchases 12 480 Totais $1090 Instructions Compute the ending inventory at May 31 and cost of goods sold using the (1) FIFO and 2) Weighted Average methods. Prove the amount allocated to cost of goods sold under each method on...
Concord Co, uses a periodic inventory system. Its records show the following for the month of May, in which 72 units were sold. Unit Units Cost Total Cost May 1 Inventory 37 $11 $407 15 Purchases 350 24 Purchases 480 $1237 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31$ Cost of goods sold
Coronado Co. uses a periodic inventory system. Its records show
the following for the month of May, in which 74 units were
sold.
Units
Unit Cost
Total Cost
May 1
Inventory
34
$10
$340
15
Purchases
29
13
377
24
Purchases
33
14
462
Totals
96
$1,179
Compute the ending inventory at May 31 and cost of goods sold using
the FIFO and LIFO methods.
FIFO
LIFO
Ending inventory at May 31
$
$
Cost of goods sold
$
$
Ballas Co. uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold. Unit Cost Units Total Cost $240 A May 1 15 24 Inventory Purchases Purchases 30 25 35 $8 11 12 275 420 Totals 90 $935 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO * Ending inventory at May 31 **** ** Cost of goods sold
Ballas Co. uses a periodic inventory system. Its records show
the following for the month of May, in which 148 units were
sold.
Unit Units Cost Total Cost May 1 Inventory65 15 Purchases55 24 Purchases 76 196 $9 12 13 $585 660 988 $2,233 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 Cost of goods sold
Windsor, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 88 units were sold. Unit Cost $14 May 1 Inventory 15 Purchases 24 Purchases Totals Units 41 34 47 Total Cost $574 578 846 $1,998 122 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 $ Cost of goods sold
Kingbird, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 130 units were sold. May 1 15 24 Unit Cost $13 1 6 Units 60 50 70 180 Inventory Purchases Purchases Totals Total Cost $780 800 1,190 $2,770 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 Cost of goods sold
The controller of Greene Yard Company is applying the lower-of-cost-or-net realizable basis of valuing its ending inventory. The following information is available Market Value Cost Lawnmowers: Self-propelled $16,800 $17,000 Push type Total 19,500 36,300 18,000 35,000 Snowblowers: Manual Self-start Total 30,000 21,000 51,000 $85,800 $86,000 29,800 19,700 49,500 Total inventory Compute the value of the ending inventory by applying the lower-of-cost-or-net realizable basis Total ending inventory
56.5 Horne Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 74 units were sold. Units Date May 1 30 Explanation Inventory Purchase Purchase Total Unit Cost $ 9 10 Total Cost $270 250 418 15 38 $938 Instructions Calculate the ending inventory at May 31 using the (a) FIFO, (b) LIFO, and (c) average- cost methods. (For average-cost, round the average unit cost to three decimal places.) Prove the amount...
Sandhill Co, uses a periodic inventory system. Its records show the following for the month of May, in which 79 units were sold. Unit Cost Date May 1 Explanation Inventory Units 30 $8 15 15 Purchase Total Cost $240 225 360 $825 24 Purchase 36 10 Total 91 Calculate the ending inventory at May 31 using the FIFO, LIFO and average cost methods. (Round answers to decimal places, s. 125.) FIFO LIFO AVERAGE-COST The ending inventory at May 31 $
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