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Problem #1 ABC Company uses a perpetual inventory system and the information for Product LG58x is...
Top Light Company uses a perpetual inventory system. The company began inventory at a cost of...
Top Light Company uses a perpetual inventory system. The company began inventory at a cost of $12 per unit. During 2019, Top Light had the following purchases and sales of lamps PURCHASE/ SOLD UNITS &COST/UNIT OR SELLING PRICE/ UNIT 2,000 units@$18/unit 2,500 units @$30/ unit 3,500 units@$23/unit 2,000 units@$33/unit DATE Purchased Feb 13 Sold Purchased Sold April 24 June 6 October 18 Required: 1. Calculate the cost of goods sold and ending inventory using FIFO Inventory Balance Cost/ unit Cost...
[The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system....
[The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Units Acquired at Cost 240 units e$53.80 per unit 295 units e $58.80 per unit. 400 units e $88.80 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 155 units & $63.80 per unit...
Inventory Costing Methods-Perpetual Method Arrow Company is a retailer that uses the perpetual inventory system. August...
Inventory Costing Methods-Perpetual Method Arrow Company is a retailer that uses the perpetual inventory system. August 1 Beginning inventory 5 Purchased 8 Purchased 11 Sold 80 units of Product A @ $1,600 total cost 100 units of Product A @ $2,116 total cost 200 units of Product A @ $4,416 total cost 170 units of Product A @ $4,800 total sale Calculate the inventory cost of item A on August 11 (after the sale) using (a) first-in, first-out, (b) last-in,...
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions...
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Acquired at Cost 60 units$50.20 per unit 205 units$55.20 per unit Activities Units Sold at Retail Date 1 Beginning inventory 5 Purchase 9 Sales Mar. Mar. 220 units@$85.20 per unit Mar. 65 units$60.20 per unit 110 units $62.20 per unit Mar. 18 Purchase Mar. 25 Purchase 90 units $95.20 per unit Mar. 29 Sales 440 units 310 units Totals 3. Compute...
Inventory Costing Methods—Perpetual Method The Luann Company uses the perpetual inventory system. The following July data...
Inventory Costing Methods—Perpetual Method The Luann Company uses the perpetual inventory system. The following July data are for an item in Luann’s inventory: July 1 Beginning inventory 30 Units@ $9 per unit 10 Purchased 50 Units@ $11 per unit 15 sold 60 Units 26 Purchased 25 Units@ $13 per unit Calculate the cost of goods sold for the July 15 sale using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Round your final answers to the...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 78 units @ $99 10 Sale 52 units 15 Purchase 46 units @ $104 20 Sale 31 units 24 Sale 25 units 30 Purchase 39 units @ $108 The business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the...
eBook Show Me How Calculator Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for...
eBook Show Me How Calculator Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 180 units at $40 10 Sale 140 units 15 Purchase 210 units at $42 20 Sale 170 units 24 Sale 60 units 30 Purchase 240 units at $46 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after...
Inventory Costing Methods-Perpetual Method Shiloh Company uses the perpetual inventory system for its merchandise inventory. The...
Inventory Costing Methods-Perpetual Method Shiloh Company uses the perpetual inventory system for its merchandise inventory. The June 1 inventory for one of the items in the merchandise inventory consisted of 60 units with a unit cost of $60. Transactions for this item during June were as follows: June 5 Purchased 40 units @ $70 per unit 13 Sold 50 units @ 110 per unit 25 Purchased 30 units @ 72 per unit 29 Sold 20 units Required a. Calculate the...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 36 units @ $41 10 Sale 24 units Purchase 46 units @ $43 26 units 20 24 Sale Sale 8 units 30 Purchase 32 units @ $46 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 49 units @ $52 10 Sale 32 units 15 Purchase 63 units @ $55 20 Sale 36 units 24 Sale 9 units 30 Purchase 24 units @ $58 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data...
Top Light Company uses a perpetual inventory system. The company began inventory at a cost of $12 per unit. During 2019, Top Light had the following purchases and sales of lamps PURCHASE/ SOLD UNITS &COST/UNIT OR SELLING PRICE/ UNIT 2,000 units@$18/unit 2,500 units @$30/ unit 3,500 units@$23/unit 2,000 units@$33/unit DATE Purchased Feb 13 Sold Purchased Sold April 24 June 6 October 18 Required: 1. Calculate the cost of goods sold and ending inventory using FIFO Inventory Balance Cost/ unit Cost...
[The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Units Acquired at Cost 240 units e$53.80 per unit 295 units e $58.80 per unit. 400 units e $88.80 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 155 units & $63.80 per unit...
Inventory Costing Methods-Perpetual Method Arrow Company is a retailer that uses the perpetual inventory system. August 1 Beginning inventory 5 Purchased 8 Purchased 11 Sold 80 units of Product A @ $1,600 total cost 100 units of Product A @ $2,116 total cost 200 units of Product A @ $4,416 total cost 170 units of Product A @ $4,800 total sale Calculate the inventory cost of item A on August 11 (after the sale) using (a) first-in, first-out, (b) last-in,...
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Acquired at Cost 60 units$50.20 per unit 205 units$55.20 per unit Activities Units Sold at Retail Date 1 Beginning inventory 5 Purchase 9 Sales Mar. Mar. 220 units@$85.20 per unit Mar. 65 units$60.20 per unit 110 units $62.20 per unit Mar. 18 Purchase Mar. 25 Purchase 90 units $95.20 per unit Mar. 29 Sales 440 units 310 units Totals 3. Compute...
eBook Show Me How Calculator Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 180 units at $40 10 Sale 140 units 15 Purchase 210 units at $42 20 Sale 170 units 24 Sale 60 units 30 Purchase 240 units at $46 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for portable game players are as follows: Apr. 1 Inventory 36 units @ $41 10 Sale 24 units Purchase 46 units @ $43 26 units 20 24 Sale Sale 8 units 30 Purchase 32 units @ $46 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, presenting the data in...
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