Answer: Option ( C ) 145
Explanation:
Sales Revenue = 25 units * $8 = $200
Cost of goods sold = (20 * 2) + (5 * 3) = $55
Profit = Sales revenue - Cost of goods sold
Profit = $200 - $55 = $145 (Answer)
ABC company has the following inventory information. The product sells $8 for each. How much is...
ABC company has the following inventory information. What amount is the ending inventor cost of goods sold if FIFO is used? Quantity Price 1-Jun Beginning Inventory 20 2 8-Jun Purchase 15 3 14-Jun Sale 25 7 20-Jun Purchase 20 4 Select one: O a. 55 O b. 170 O c. 70 O d. 110
ABC company has the following inventory information. What amount is the ending inventory if FIFO is used? Quantity Price 1-Jun Beginning Inventory 20 2 8-Jun Purchase 15 3 14-Jun Sale 25 7 20-Jun Purchase 20 4 Select one: O a. 110 O b. 170 O c. 70 O d. 55
ABC company has the following inventory information. What amount is the ending inventory if weighted average method is used? Quantity Price 1-Jun Beginning Inventory 20 21 8-Jun Purchase 15 3 14-Jun Sale 25 7 20-Jun Purchase 20 4 Select one: O a. 170 O b. 90 O c. 55 O d. 110
ABC company has the following inventory information. What amount is the ending inventory if LIFO is used? Quantity Price 1-Jun Beginning Inventory 20 2 8-Jun Purchase 15 3 14-Jun Sale 25 7 20-Jun Purchase 20 4 Select one: O a. 50 O b. 90 O c. 70 O d. 55
ABC company has the following inventory information. What amount is the ending inventory if LIFO is used? Quantity Price 1-Jun Beginning Inventory 20 2 15 3 8-Jun Purchase 25 7 14-Jun Sale 20 4 20-Jun Purchase Select one: a. 50 b. 90 O c. 70 d. 55
[The following information applies to the questions displayed below.] 10 During the year, a company has the following inventory transactions. Number Unit Date Transaction of Units Cost Total Cost Jan. 1 Beginning inventory $ 12 $ 120 Mar. 4 Purchase 15 11 165 Jun. 9 Purchase 20 200 Nov.11 Purchase 160 $ 645 10 : 65 For the entire year, the company sells 50 units of inventory for $20 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods...
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ork Chapter #6 Help Save & Number of Units Cost Total Cont Date Transaction Jan. 1 Beginning inventory Mar. 14 Purchase Jun. 9 Purchase Nov.11 Purchase 1,020 1.053 $4,103 For the entire year, the company sells 110 units of inventory for $39 each. 12:37 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost cost per Ending # of units Cost...
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