Homework Answers
Ending inventory = Total units available for sales - Units sold
= 1000-550 = 450 unts
Ending inventory = 260*43+(450-260)*40 = $18,780
Cost of goods sold = Total costs - Ending inventory
= $38,680 - $18,780
= $19,900
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Blossom Company uses a periodic inventory system. For April, when the company sold 550 units, the...
Bonita Company uses a periodic inventory system. For April, when the company sold 550 units, the...
Bonita Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Unit Cost $19 April 1 inventory April 15 purchase April 23 purchase Units 300 410 290 1,000 Total Cost $ 5,700 9,430 7,250 $22,380 25 Compute the April 30 inventory and the April cost of goods sold using the LIFO method. Ending inventory Cost of goods sold
Brief Exercise 8-5 Blossom Company uses a periodic inventory system. For April, when the company sold...
Brief Exercise 8-5
Blossom Company uses a periodic inventory system. For April,
when the company sold 400 units, the following information is
available.
Units
Unit Cost
Total Cost
April 1 inventory
220
$11
$ 2,420
April 15 purchase
450
13
5,850
April 23 purchase
330
14
4,620
1,000
$12,890
Compute the April 30 inventory and the April cost of goods sold
using the FIFO method.
Ending inventory
$
Cost of goods sold
$
Metlock Company uses a periodic inventory system. For April, when the company sold 650 units, the...
Metlock Company uses a periodic inventory system. For April, when the company sold 650 units, the following information is available. Total Cost April 1 inventory April 15 purchase April 23 purchase Units 310 390 300 1,000 Unit Cost $20 24 26 $ 6,200 9,360 7,800 $23,360 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold $
Sheridan Company uses a periodic inventory system. For April, when the company sold 450 units, the...
Sheridan Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 280 $17 $ 4,760 April 15 purchase 420 20 8,400 April 23 purchase 300 22 6,600 1,000 $19,760 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $enter a dollar amount Cost of goods sold $enter a dollar amount
Blue Company uses a periodic inventory system. For April, when the company sold 500 units, the...
Blue Company uses a periodic inventory system. For April, when the company sold 500 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 290 $32 $9,280 April 15 purchase 430 38 16,340 April 23 purchase 280 11,760 1,000 $37,380 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold $
Wildhorse Company uses a periodic inventory system. For April, when the company sold 400 units, the...
Wildhorse Company uses a periodic inventory system. For April,
when the company sold 400 units, the following information is
available.
Units
Unit Cost
Total Cost
April 1 inventory
220
$11
$ 2,420
April 15 purchase
450
13
5,850
April 23 purchase
330
14
4,620
1,000
$12,890
Compute the April 30 inventory and the April cost of goods sold
using the FIFO method.
Ending inventory
$
Cost of goods sold
$
Skysong Company uses a periodic inventory system. For April, when the company sold 600 units, the...
Skysong Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Units Unit Cost $16 270 April 1 inventory April 15 purchase April 23 purchase 410 19 21 Total Cost $ 4,320 7,790 6,720 $18,830 320 1,000 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold $
Buffalo Company uses a periodic inventory system. For April, when the company sold 500 units, the following informa...
Buffalo Company uses a periodic inventory system. For April, when the company sold 500 units, the following information is available. Unit Cost $32 April 1 inventory April 15 purchase April 23 purchase Units 290 430 280 1,000 Total Cost $ 9,280 16,340 11,760 42 $37,380 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory Cost of goods sold
Current Attempt in Progress Oriole Company uses a periodic inventory system. For April, when the company...
Current Attempt in Progress Oriole Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Units Unit Cost Total Cost 270 April 1 inventory April 15 purchase April 23 purchase 440 290 1,000 $30 36 39 $ 8,100 15,840 11,310 $35,250 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory Cost of goods sold $ $
Riverbed Company uses a periodic inventory system. For April, when the company sold 600 units, the...
Riverbed Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 270 $30 $ 8,100 April 15 purchase 440 36 15,840 April 23 purchase 290 39 11,310 1,000 $35,250 Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost per unit $35.25 Compute the April 30 inventory and the April cost of goods sold using the...
Bonita Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Unit Cost $19 April 1 inventory April 15 purchase April 23 purchase Units 300 410 290 1,000 Total Cost $ 5,700 9,430 7,250 $22,380 25 Compute the April 30 inventory and the April cost of goods sold using the LIFO method. Ending inventory Cost of goods sold
Brief Exercise 8-5
Blossom Company uses a periodic inventory system. For April,
when the company sold 400 units, the following information is
available.
Units
Unit Cost
Total Cost
April 1 inventory
220
$11
$ 2,420
April 15 purchase
450
13
5,850
April 23 purchase
330
14
4,620
1,000
$12,890
Compute the April 30 inventory and the April cost of goods sold
using the FIFO method.
Ending inventory
$
Cost of goods sold
$
Metlock Company uses a periodic inventory system. For April, when the company sold 650 units, the following information is available. Total Cost April 1 inventory April 15 purchase April 23 purchase Units 310 390 300 1,000 Unit Cost $20 24 26 $ 6,200 9,360 7,800 $23,360 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold $
Blue Company uses a periodic inventory system. For April, when the company sold 500 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 290 $32 $9,280 April 15 purchase 430 38 16,340 April 23 purchase 280 11,760 1,000 $37,380 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold $
Wildhorse Company uses a periodic inventory system. For April,
when the company sold 400 units, the following information is
available.
Units
Unit Cost
Total Cost
April 1 inventory
220
$11
$ 2,420
April 15 purchase
450
13
5,850
April 23 purchase
330
14
4,620
1,000
$12,890
Compute the April 30 inventory and the April cost of goods sold
using the FIFO method.
Ending inventory
$
Cost of goods sold
$
Skysong Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Units Unit Cost $16 270 April 1 inventory April 15 purchase April 23 purchase 410 19 21 Total Cost $ 4,320 7,790 6,720 $18,830 320 1,000 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold $
Buffalo Company uses a periodic inventory system. For April, when the company sold 500 units, the following information is available. Unit Cost $32 April 1 inventory April 15 purchase April 23 purchase Units 290 430 280 1,000 Total Cost $ 9,280 16,340 11,760 42 $37,380 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory Cost of goods sold
Current Attempt in Progress Oriole Company uses a periodic inventory system. For April, when the company sold 600 units, the following information is available. Units Unit Cost Total Cost 270 April 1 inventory April 15 purchase April 23 purchase 440 290 1,000 $30 36 39 $ 8,100 15,840 11,310 $35,250 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory Cost of goods sold $ $
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