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Problem 8-08 (Part Level Submission)
Charles’s Televisions produces television sets in three categories:
portable, midsize, and flat-screen. On January 1, 2020, Charles
adopted dollar-value LIFO and decided to use a single inventory
pool. The company’s January 1 inventory consists of:
Category
Quantity
Cost per Unit
Total Cost
Portable
7,800
$100
$ 780,000
Midsize
10,400
250
2,600,000
Flat-screen
3,900
400
1,560,000
22,100
$4,940,000
During 2020, the company had the following purchases and
sales.
Category
Quantity
Purchased
Cost per Unit
Quantity
Sold...
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Problem 8-08 (Part Level Submission)
Charles’s Televisions produces television sets in three categories:
portable, midsize, and flat-screen. On January 1, 2020, Charles
adopted dollar-value LIFO and decided to use a single inventory
pool. The company’s January 1 inventory consists of:
Category
Quantity
Cost per Unit
Total Cost
Portable
7,800
$100
$ 780,000
Midsize
10,400
250
2,600,000
Flat-screen
3,900
400
1,560,000
22,100
$4,940,000
During 2020, the company had the following purchases and
sales.
Category
Quantity
Purchased
Cost per Unit
Quantity
Sold...
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Charles’s Televisions produces television sets in three
categories: portable, midsize, and flat-screen. On January 1, 2020,
Charles adopted dollar-value LIFO and decided to use a single
inventory pool. The company’s January 1 inventory consists
of:
Category
Quantity
Cost per Unit
Total Cost
Portable
7,800
$100
$ 780,000
Midsize
10,400
250
2,600,000
Flat-screen
3,900
400
1,560,000
22,100
$4,940,000
During 2020, the company had the following purchases and
sales.
Category
Quantity
Purchased
Cost per Unit
Quantity
Sold
Selling Price
per Unit
Portable...
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Company A's Televisions produces television sets in three
categories: portable, midsize, and flat-screen. On January 1, 2017,
Company A adopted dollar-value LIFO and decided to use a single
inventory pool. The company’s January 1 inventory consists
of:
Category
Quantity
Cost per Unit
Total Cost
Portable
5,800
$120
$ 696,000
Midsize
8,100
300
2,430,000
Flat-screen
3,200
480
1,536,000
17,100
$4,662,000
During 2017, the company had the following purchases and
sales.
Category
Quantity
Purchased
Cost per Unit
Quantity
Sold
Selling Price
per...
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Newman’s Televisions produces television sets in three
categories: portable, midsize, and flat-screen. On January 1, 2017,
Newman adopted dollar-value LIFO and decided to use a single
inventory pool. The company’s January 1 inventory consists
of:
Category
Quantity
Cost per Unit
Total Cost
Portable
6,000
$132
$ 792,000
Midsize
8,400
330
2,772,000
Flat-screen
2,900
528
1,531,200
17,300
$5,095,200
During 2017, the company had the following purchases and
sales.
Category
Quantity
Purchased
Cost per Unit
Quantity
Sold
Selling Price
per Unit
Portable...
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Problem 8-8 Morgan's Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2017, Morgan adopted dollar-value LIFO and decided to une a single inventory pool. The company's January 1 inventory consists of: Category Quantity Cost per Unit Total Cost Portable Midsize Flat-screen 5,700 8,100 3.100 16,900 115 655,500 288 2,332,800 460 1,426,000 $4,414,300 During 2017, the company had the following purchases and sales Quantity Quantity Selling Price Category Purchased Cost per Unit Sold Portable Midsize...
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Problem 21-03A a-c (Video) (Part Level Submission) Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON'S ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2020 Time Charges Material Loading Charges $108,000 Shop employees' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Overhead (supplies, depreciation, advertising, utilities) 23,500 26,000 $157,500 $25,400 13,600 16,000 $55,000 Total budgeted costs Sutton's budgets 5,000 hours of repair time in 2020 and will bill a profit...
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Problem 6-08A 1-a2 (Part Level Submission) Concord Inc. is a retailer operating in British Columbia. Concord uses the perpetual inventory method. All sales returns from result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; amounts are settled in cash. You are provided with the following information for Concord Inc. for the month of January 2020. Unit Cost or Selling Date Description Quantity Price January 1 Beginning inventory 100 $14...
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Problem 6-08A a1-a2 (Part Level Submission)
Bonita Inc. is a retailer operating in British Columbia. Bonita
uses the perpetual inventory method. All sales returns from
customers result in the goods being returned to inventory; the
inventory is not damaged. Assume that there are no credit
transactions; all amounts are settled in cash. You are provided
with the following information for Bonita Inc. for the month of
January 2020.
Date
Description
Quantity
Unit Cost or Selling Price
January
1
Beginning inventory...
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Problem 6-08A a1-a2 (Part Level Submission)
Swifty Inc. is a retailer operating in British Columbia. Swifty
uses the perpetual inventory method. All sales returns from
customers result in the goods being returned to inventory; the
inventory is not damaged. Assume that there are no credit
transactions; all amounts are settled in cash. You are provided
with the following information for Swifty Inc. for the month of
January 2020.
Problem 6-08A a1-a2 (Part Level Submission) Swifty Inc. is a retailer operating...
Problem 8-08 (Part Level Submission)
Charles’s Televisions produces television sets in three categories:
portable, midsize, and flat-screen. On January 1, 2020, Charles
adopted dollar-value LIFO and decided to use a single inventory
pool. The company’s January 1 inventory consists of:
Category
Quantity
Cost per Unit
Total Cost
Portable
7,800
$100
$ 780,000
Midsize
10,400
250
2,600,000
Flat-screen
3,900
400
1,560,000
22,100
$4,940,000
During 2020, the company had the following purchases and
sales.
Category
Quantity
Purchased
Cost per Unit
Quantity
Sold...
Problem 8-08 (Part Level Submission)
Charles’s Televisions produces television sets in three categories:
portable, midsize, and flat-screen. On January 1, 2020, Charles
adopted dollar-value LIFO and decided to use a single inventory
pool. The company’s January 1 inventory consists of:
Category
Quantity
Cost per Unit
Total Cost
Portable
7,800
$100
$ 780,000
Midsize
10,400
250
2,600,000
Flat-screen
3,900
400
1,560,000
22,100
$4,940,000
During 2020, the company had the following purchases and
sales.
Category
Quantity
Purchased
Cost per Unit
Quantity
Sold...
Charles’s Televisions produces television sets in three
categories: portable, midsize, and flat-screen. On January 1, 2020,
Charles adopted dollar-value LIFO and decided to use a single
inventory pool. The company’s January 1 inventory consists
of:
Category
Quantity
Cost per Unit
Total Cost
Portable
7,800
$100
$ 780,000
Midsize
10,400
250
2,600,000
Flat-screen
3,900
400
1,560,000
22,100
$4,940,000
During 2020, the company had the following purchases and
sales.
Category
Quantity
Purchased
Cost per Unit
Quantity
Sold
Selling Price
per Unit
Portable...
Problem 8-8 Morgan's Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2017, Morgan adopted dollar-value LIFO and decided to une a single inventory pool. The company's January 1 inventory consists of: Category Quantity Cost per Unit Total Cost Portable Midsize Flat-screen 5,700 8,100 3.100 16,900 115 655,500 288 2,332,800 460 1,426,000 $4,414,300 During 2017, the company had the following purchases and sales Quantity Quantity Selling Price Category Purchased Cost per Unit Sold Portable Midsize...
Problem 21-03A a-c (Video) (Part Level Submission) Sutton's Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON'S ELECTRONIC REPAIR SHOP Budgeted Costs for the Year 2020 Time Charges Material Loading Charges $108,000 Shop employees' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Overhead (supplies, depreciation, advertising, utilities) 23,500 26,000 $157,500 $25,400 13,600 16,000 $55,000 Total budgeted costs Sutton's budgets 5,000 hours of repair time in 2020 and will bill a profit...
Problem 6-08A 1-a2 (Part Level Submission) Concord Inc. is a retailer operating in British Columbia. Concord uses the perpetual inventory method. All sales returns from result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; amounts are settled in cash. You are provided with the following information for Concord Inc. for the month of January 2020. Unit Cost or Selling Date Description Quantity Price January 1 Beginning inventory 100 $14...
Problem 6-08A a1-a2 (Part Level Submission)
Bonita Inc. is a retailer operating in British Columbia. Bonita
uses the perpetual inventory method. All sales returns from
customers result in the goods being returned to inventory; the
inventory is not damaged. Assume that there are no credit
transactions; all amounts are settled in cash. You are provided
with the following information for Bonita Inc. for the month of
January 2020.
Date
Description
Quantity
Unit Cost or Selling Price
January
1
Beginning inventory...
Problem 6-08A a1-a2 (Part Level Submission)
Swifty Inc. is a retailer operating in British Columbia. Swifty
uses the perpetual inventory method. All sales returns from
customers result in the goods being returned to inventory; the
inventory is not damaged. Assume that there are no credit
transactions; all amounts are settled in cash. You are provided
with the following information for Swifty Inc. for the month of
January 2020.
Problem 6-08A a1-a2 (Part Level Submission) Swifty Inc. is a retailer operating...