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Question 4 (10 marks) You will have the responsibility to become an expert on one inventory...
o bous up or sale, they cleaned and WOULUI 3980. Determine the cost of inventory. C2...
o bous up or sale, they cleaned and WOULUI 3980. Determine the cost of inventory. C2 Company reported the following January purchases and sales data for its only product Date Exercise 6-3 Perpetual: Inventory costing methods Units Acquired at Cost Units Sold at Retail 140 units @ $6.00 = $ 840 100 units @ $15 Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 Activities Beginning inventory ............ Sales. Purchase Sales..... Purchase Totals.. 60 units @ $5.00 = 300...
Laker Company reported the following January purchases and sales data for its only product. Date Activities...
Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Exercise 6-3 Perpetual: Inventory costing methods P1 Units Sold at Retail 140 units @ $6.00 = $ 840 100 units @ $15 Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 Beginning inventory ... Sales... Purchase .. Sales..... Purchase .. Totals 60 units @ $5.00 = 300 80 units @ $15 180 units @ $4.50 = 810 380 units...
Question 5: (9 marks) The following is Grapevine's January inventory purchase and sale transactions. Grapevine uses...
Question 5: (9 marks) The following is Grapevine's January inventory purchase and sale transactions. Grapevine uses a perpetual inventory system. Cost per 750 ml Bottle $10 Selling price per 750 ml Bottle Qty 100 Date 1-Jan 12-Jan 15-Jan 16-Jan 25-Jan Transaction Beginning Inventory Purchase Sale Purchase Sale 500 400 $25 300 2 310 Required (parts a, b, c & d): Assume that Grapevine uses a weighted average inventory system. Compute Grapevine's ending inventory in dollars and units, cost of goods...
INVENTORY ITEM 621AB UNITS DATE COST Beginning Inventory $6 $7 Jan 1 120 Purchase 200 Jan...
INVENTORY ITEM 621AB UNITS DATE COST Beginning Inventory $6 $7 Jan 1 120 Purchase 200 Jan 7 Sale Jan 10 250 Purchase $8 Jan 15 300 Jan 17 Purchase $9 200 Sale 325 Jan 20 Sale Jan 25 100 Jan 28 Purchase $10 175 Smith Corporation uses a perpetual inventory system. Determine the costs assigned to Cost of Goods Sold and Ending Inventory using both FIFO and LIFO methods. DATE ITEM RED16 UNITS COST Beginning Inventory $10 Jan 1 100...
Hemming uses a perpetual inventory system. Assume that ending inventory is made up of 55 units...
Hemming uses a perpetual inventory system. Assume that ending
inventory is made up of 55 units from the March 14 purchase, 70
units from the July 30 purchase, and all 165 units from the October
26 purchase. Using the specific identification method, calculate
the following.
Hemming Co. reported the following current-year purchases and sales for its only product. Units Sold at Retail Units Acquired at Cost 265 units @ $12.60 = $ 3,339 225 units @ $42.60 Date Activities Jan....
montate ending Inventory Overstate beginning inventory Overstate ending inventory Cost per un 112 6. During January,...
montate ending Inventory Overstate beginning inventory Overstate ending inventory Cost per un 112 6. During January, a company na ary. a company that uses a perpetual inventory system had begu purchases, and sales as follows: Date Item Units Beginning inventory 100 50 Jan 5 Sale Jan 10 Purchase 25 Jan 15 Sale 35 Sale Jan 25 16 70 Prepare a schedule to show the cost of goods sold and ending inventory using the mos average method of costing rounding calculations...
Montoure Company uses a perpetual Inventory system. It entered into the following calendar-year purchases and sales...
Montoure Company uses a perpetual Inventory system. It entered into the following calendar-year purchases and sales transactions Units sold at Retail Unite Aequired at Cost 680 units 540 per unit 320 units @ $35 per unit 100 units $23 per unit Date Activities Jan. Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 720 unitse $75 per unit 130 units 490 units $45 per unit $41 per unit...
4 The company uses a perpetual inventory system. a. Determine the costs assigned to ending inventory...
4 The company uses a perpetual inventory system. a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross margin for each method. pints Complete this question by entering your answers in the tabs below. eBook Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold...
1. Complete the table to determine the cost assigned to ending inventory and cost of goods...
1. Complete the table to determine the cost
assigned to ending inventory and cost of goods sold using specific
identification.
2. Determine the cost assigned to ending inventory
and to cost of goods sold using weighted average.
3. Determine the cost assigned to ending inventory
and to cost of goods sold using FIFO.
4. Determine the cost assigned to ending inventory
and to cost of goods sold using LIFO.
Laker Company reported the following January purchases and sales data for...
4. Determine the costs assigned to ending inventory and to cost of goods SUIU USM LIPU....
4. Determine the costs assigned to ending inventory and to cost of goods SUIU USM LIPU. ded Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased #of Cost Trost Date Cost of Goods Sold # of units Cost Cost of sold per unit Goods Sold per units Inventory Balance Cost Inventory...
o bous up or sale, they cleaned and WOULUI 3980. Determine the cost of inventory. C2 Company reported the following January purchases and sales data for its only product Date Exercise 6-3 Perpetual: Inventory costing methods Units Acquired at Cost Units Sold at Retail 140 units @ $6.00 = $ 840 100 units @ $15 Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 Activities Beginning inventory ............ Sales. Purchase Sales..... Purchase Totals.. 60 units @ $5.00 = 300...
Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Exercise 6-3 Perpetual: Inventory costing methods P1 Units Sold at Retail 140 units @ $6.00 = $ 840 100 units @ $15 Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 Beginning inventory ... Sales... Purchase .. Sales..... Purchase .. Totals 60 units @ $5.00 = 300 80 units @ $15 180 units @ $4.50 = 810 380 units...
Question 5: (9 marks) The following is Grapevine's January inventory purchase and sale transactions. Grapevine uses a perpetual inventory system. Cost per 750 ml Bottle $10 Selling price per 750 ml Bottle Qty 100 Date 1-Jan 12-Jan 15-Jan 16-Jan 25-Jan Transaction Beginning Inventory Purchase Sale Purchase Sale 500 400 $25 300 2 310 Required (parts a, b, c & d): Assume that Grapevine uses a weighted average inventory system. Compute Grapevine's ending inventory in dollars and units, cost of goods...
INVENTORY ITEM 621AB UNITS DATE COST Beginning Inventory $6 $7 Jan 1 120 Purchase 200 Jan 7 Sale Jan 10 250 Purchase $8 Jan 15 300 Jan 17 Purchase $9 200 Sale 325 Jan 20 Sale Jan 25 100 Jan 28 Purchase $10 175 Smith Corporation uses a perpetual inventory system. Determine the costs assigned to Cost of Goods Sold and Ending Inventory using both FIFO and LIFO methods. DATE ITEM RED16 UNITS COST Beginning Inventory $10 Jan 1 100...
Hemming uses a perpetual inventory system. Assume that ending
inventory is made up of 55 units from the March 14 purchase, 70
units from the July 30 purchase, and all 165 units from the October
26 purchase. Using the specific identification method, calculate
the following.
Hemming Co. reported the following current-year purchases and sales for its only product. Units Sold at Retail Units Acquired at Cost 265 units @ $12.60 = $ 3,339 225 units @ $42.60 Date Activities Jan....
montate ending Inventory Overstate beginning inventory Overstate ending inventory Cost per un 112 6. During January, a company na ary. a company that uses a perpetual inventory system had begu purchases, and sales as follows: Date Item Units Beginning inventory 100 50 Jan 5 Sale Jan 10 Purchase 25 Jan 15 Sale 35 Sale Jan 25 16 70 Prepare a schedule to show the cost of goods sold and ending inventory using the mos average method of costing rounding calculations...
Montoure Company uses a perpetual Inventory system. It entered into the following calendar-year purchases and sales transactions Units sold at Retail Unite Aequired at Cost 680 units 540 per unit 320 units @ $35 per unit 100 units $23 per unit Date Activities Jan. Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals 720 unitse $75 per unit 130 units 490 units $45 per unit $41 per unit...
4 The company uses a perpetual inventory system. a. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. b. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. c. Compute the gross margin for each method. pints Complete this question by entering your answers in the tabs below. eBook Required A Required B Required C Determine the costs assigned to ending inventory and to cost of goods sold...
1. Complete the table to determine the cost
assigned to ending inventory and cost of goods sold using specific
identification.
2. Determine the cost assigned to ending inventory
and to cost of goods sold using weighted average.
3. Determine the cost assigned to ending inventory
and to cost of goods sold using FIFO.
4. Determine the cost assigned to ending inventory
and to cost of goods sold using LIFO.
Laker Company reported the following January purchases and sales data for...
4. Determine the costs assigned to ending inventory and to cost of goods SUIU USM LIPU. ded Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Determine the costs assigned to ending inventory and to cost of goods sold using FIFO. Perpetual FIFO: Goods Purchased #of Cost Trost Date Cost of Goods Sold # of units Cost Cost of sold per unit Goods Sold per units Inventory Balance Cost Inventory...
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