Note - As we are allowed to process one question at at time as per HomeworkLib policy.
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1. FIFO Method -
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2. Weighted Average Method -
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marks) QUESTION 5 Kegin Company sells many products. Whamo is one of its popular items. Below...
Kegin Company sells many products. Whamo is one of its popular items. Below is an analysis of the inventorY purchases and sales of Whamo for the month of March. Kegin Company uses the perpetual inventory system. Purchases Sales Unit Cost Units Selling Price/Unit 3/1 Beginning inventory $40 00T 3/3 Purchase $50 09 3/4 Sales 0$ 3/10 Purchase $55 007 3/16 Sales 06$ 08 3/19 Sales 06$ 09 3/25 Sales 06$ Purchase 3/30 09$ Instructions (a) Using the FIFO assumption, calculate...
Grouper Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Grouper Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 150 $55 3/3 Purchase $60 3/4 Sales $120 3/10 Purchase $65 3/16 Sales 135 $130 Sales $130 3/19 3/25 Sales $130 3/30 Purchase 60 $75 Using the FIFO assumption, calculate the amount charged...
Woodson Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Woodson Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 100 $40 3/3 Purchase 60 $50 3/4 Sales 60 $80 3/10 Purchase 200 $55 3/16 Sales 90 $90 3/19 Sales 70 $90 3/25 Sales 60 $90 3/30 Purchase 40 $60 Instructions (a) Using...
QUESTION 4 Mariam is in business as a retailer. The following balances were extracted from the books of Mariam Enterprise as at 31 Dec 2019. RM Capital at Jan 2019 190,000 Drawing 21,000 Land and buildings at cost) 150,000 Fixtures and Fittings ( M23,000 Computer equipment at cos 40,000 Accumulated depreciation Fixtures and Fillings 19,000 Computer gent 12.000 % loan 50,000 Lcan interest paid 2.000 10,000 Kash 4,070 Account receivables 0.00 ecount payables 31,000 Sales 365.000 Purchases 115,00 Goods returned...
Brenda Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Brenda Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit Beginning inventory $40 Purchase $51 Sales Purchase 195 $60 3/1 3/3 3/4 3/10 3/16 3/19 3/25 3/30 Sales Sales Sales Purchase This app $55 Using the FIFO assumption, calculate the amount charged to cost of goods...
The dexter company sells many products. Whamo is one of its popular items. below is an analysis of the inventory purchases and sales of Whamo for the month of March. Dexter Company uses the periodic inventory system. Purchase Units / Unit Cost /Sales Units / Selling Price& Unit 1-Mar Beg Inventory 100 (PR) 60 (UC) 3- Mar 60(PU) 75 (UC) 4-Mar 70 (SU) 120 (SP/U) 10- Mar 200(PU) 82 (UC) 16- Mar 80(SU) 130 (SP/U) 19- Mar 80 (SU) 130...
Lisa Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Lisa Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory $38 3/3 Purchase $50 3/4 Sales $80 3/10 Purchase $50 3/16 Sales $90 $95 3/19 Sales 3/25 Sales $90 3/30 Purchase 35 $65 Using the FIFO assumption, calculate the amount charged to cost...
Culver Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Culver Company uses the periodic inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 90 $40 $40 3/3 Purchase $50 3/4 Sales 53 $90 3/10 Purchase $55 $55 3/16 Sales $100 3/19 Sales $100 $100 3/25 Sales 3/30 Purchase 37 $60 Using the LIFO assumption, calculate the...
Culver Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Culver Company uses the periodic inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 90 $40 $40 3/3 Purchase $50 3/4 Sales 53 $90 3/10 Purchase $55 $55 3/16 Sales $100 3/19 Sales $100 $100 3/25 Sales 3/30 Purchase 37 $60 Solution Purchases Sales Units Unit Cost...
Coggin Company sells many products. Printers are one of its most popular items. Below is an analysis of the inventory purchases and sales of printers for the month of May. Coggin Company uses the perpetual inventory system. Coggin is located in Madrid, Spain. Inventory Coggin Company sells many products. Printers are one of its most popular items. Below is an analysis of the inventory purchases and sales of printers for the month of May. Coggin Company uses the perpetual inventory...