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Homework: Chapter 10 Calculator Print Item Calculate the cost of goods sold dollar value for A67...
Calculate the cost of goods sold dollar value for A67 Company for the month, considering the...
Calculate the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual Inventory updating. Provide calculations for weighted average (AVG). Round your Intermediate calculations to 2 decima places and final answers to the nearest dollar amount. Number of Units Unit Cost Sales 810 $60 Beginning inventory Purchased 610 62 Sold 400 $80 Sold 350 90 Ending Inventory 670 AVG (perpetual) Inventory Cost of Goods Sold...
1. Calculate the ending inventory and cost of goods sold for January using the FIFO and...
1. Calculate the ending inventory and cost of goods sold for January using the FIFO and perpetual method: #units Costunit TotalCOGS #units Costunit Total inventory Date 01/01/20 Beginning inventory 01/20/20 Sold 20 units 15 40 100.00 105.00 1,500.00 4,200.00 5,700.00 55 - 01/25/20 Purchased 30 units @ $107.50 01/31/20 Sold 32 units Inventory COGS 2. Calculate the ending inventory and cost of goods sold for January using the LIFO and perpetual method: #units Costunit Total COGS #units Costunit Total inventory...
Cost of Goods Available for Sale Cost of Goods Sold- January 5 Cost of Goods Sold- January 12 Cos...
We were unable to transcribe this imageWe were unable to transcribe this imageCost of Goods Available for Sale Cost of Goods Sold- January 5 Cost of Goods Sold- January 12 Cost of Goods Sold- January 20 Inventory Balance Perpetual LIFO: #of Unit Cost of Goods #of units Cost per unit # of units | Cost per Ending Inventory Cost of | # of units Cost per unit Cost of Goods Soldsold | # of units Cost per unit Cost of...
Chapter 7 Homework Assignment (pan eBook Show Me How Calculator Print Item Beginning inventory, purchases, and...
Chapter 7 Homework Assignment (pan eBook Show Me How Calculator Print Item Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 79 units @ $48 10 Sale 53 units 15 Purchase 42 units @ $51 20 Sale 32 units 24 Sale 23 units 30 Purchase 22 units @ $53 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...
Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross...
Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic Weighted Average Answer Units Date Transaction 1-Jan Beginning Inventory 28-Mar Purchase 22-Aug Purchase 14-Oct Purchase Unit Cost $60 $66 $70 Total Cost $600 $1,320 $1,400 $1,900 $5,220 $76 The Company sold 45 Units for $100 each on October 28. (Dollars) Beginning Inventory Purchases Cost of Goods Available for Sale Gross Sales COGS Gross Profit Ending Inventory, Sales
calculate the cost of goods available for sale, ending inventory, and cost of goods sold if...
calculate the cost of goods
available for sale, ending inventory, and cost of goods sold if
Aircarf uses (a) FIFO, (b) LIFO, or (c) weighted average
cost.
Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic inventory system. The following are the transactions for the month of July Units Unit Cost July 1 July 5 July 13...
Given the following data, calculate the cost of goods sold for the 04/15 sale using the...
Given the following data, calculate the cost of goods sold for the 04/15 sale using the weighted average method for a perpetual inventory system, rounding to the nearest dollar. 1/1 Beginning inventory 50 units at $10 per unit 3/5 Purchases 30 units at $14 per unit 4/15 Sale 20 units at $30 per unit 5/30 Purchases 25 units at $15 per unit 10/25 Purchases 20 units at $16 per unit 11/15 Sale 60 units at $32 per unit 12/31 Ending...
Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost...
Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of goods sold for the month of November of Beamer Company using the data below. Nov. $80 each 1 Purchased 4 Sold 11 Purchased 12 Sold 22 Purchased 23 Sold 600 units 200 units 350 units 275 units 175 units 155 units $82 each $84 each 1. Calculate the inventory valuation at the end of November 2. Calculate the cost of goods sold for...
The beginning inventory was 440 units at a cost of $10 per unit. Goods available for...
The beginning inventory was 440 units at a cost of $10 per unit. Goods available for sale during the year were 1,720 units at a total cost of $19,020. In May 740 units were purchased at a total cost of $8,140. The only other purchase transaction occurred during October. Ending ibventory was 760 units. Required: a. Calculate the number of units purchased in October and the cost per unit purchased in October. Purchased in October Number of units Cost per...
Chapter 6 - Part II SOLUTIONS Winter 2020 . Calculate the ending inventory and cost of...
Chapter 6 - Part II SOLUTIONS Winter 2020 . Calculate the ending inventory and cost of goods sold for January using the FIFO and perpetual method: # units Cost/unit Total COGS # units Cost/unit Total inventory Date 02/01/20 Beginning inventory 2,873 1,709 4,582 96.35 102.17 276.813.55 174,608.53 451,422.08 02/05/20 Sold 2,500 units 02/12/20 Purchased 3,000 units @ $102.58 02/22/20 Sold 4,750 units 02/26/20 Purchased 2,000 units @ $102.65 02/22/20 Sold 1,950 units Inventory- COGS . Calculate the lower of cost...
Calculate the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual Inventory updating. Provide calculations for weighted average (AVG). Round your Intermediate calculations to 2 decima places and final answers to the nearest dollar amount. Number of Units Unit Cost Sales 810 $60 Beginning inventory Purchased 610 62 Sold 400 $80 Sold 350 90 Ending Inventory 670 AVG (perpetual) Inventory Cost of Goods Sold...
1. Calculate the ending inventory and cost of goods sold for January using the FIFO and perpetual method: #units Costunit TotalCOGS #units Costunit Total inventory Date 01/01/20 Beginning inventory 01/20/20 Sold 20 units 15 40 100.00 105.00 1,500.00 4,200.00 5,700.00 55 - 01/25/20 Purchased 30 units @ $107.50 01/31/20 Sold 32 units Inventory COGS 2. Calculate the ending inventory and cost of goods sold for January using the LIFO and perpetual method: #units Costunit Total COGS #units Costunit Total inventory...
We were unable to transcribe this imageWe were unable to transcribe this imageCost of Goods Available for Sale Cost of Goods Sold- January 5 Cost of Goods Sold- January 12 Cost of Goods Sold- January 20 Inventory Balance Perpetual LIFO: #of Unit Cost of Goods #of units Cost per unit # of units | Cost per Ending Inventory Cost of | # of units Cost per unit Cost of Goods Soldsold | # of units Cost per unit Cost of...
Chapter 7 Homework Assignment (pan eBook Show Me How Calculator Print Item Beginning inventory, purchases, and sales data for portable DVD players are as follows: Apr. 1 Inventory 79 units @ $48 10 Sale 53 units 15 Purchase 42 units @ $51 20 Sale 32 units 24 Sale 23 units 30 Purchase 22 units @ $53 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...
Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic Weighted Average Answer Units Date Transaction 1-Jan Beginning Inventory 28-Mar Purchase 22-Aug Purchase 14-Oct Purchase Unit Cost $60 $66 $70 Total Cost $600 $1,320 $1,400 $1,900 $5,220 $76 The Company sold 45 Units for $100 each on October 28. (Dollars) Beginning Inventory Purchases Cost of Goods Available for Sale Gross Sales COGS Gross Profit Ending Inventory, Sales
calculate the cost of goods
available for sale, ending inventory, and cost of goods sold if
Aircarf uses (a) FIFO, (b) LIFO, or (c) weighted average
cost.
Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a periodic inventory system. The following are the transactions for the month of July Units Unit Cost July 1 July 5 July 13...
Given the following data, calculate the cost of goods sold for the 04/15 sale using the weighted average method for a perpetual inventory system, rounding to the nearest dollar. 1/1 Beginning inventory 50 units at $10 per unit 3/5 Purchases 30 units at $14 per unit 4/15 Sale 20 units at $30 per unit 5/30 Purchases 25 units at $15 per unit 10/25 Purchases 20 units at $16 per unit 11/15 Sale 60 units at $32 per unit 12/31 Ending...
Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of goods sold for the month of November of Beamer Company using the data below. Nov. $80 each 1 Purchased 4 Sold 11 Purchased 12 Sold 22 Purchased 23 Sold 600 units 200 units 350 units 275 units 175 units 155 units $82 each $84 each 1. Calculate the inventory valuation at the end of November 2. Calculate the cost of goods sold for...
The beginning inventory was 440 units at a cost of $10 per unit. Goods available for sale during the year were 1,720 units at a total cost of $19,020. In May 740 units were purchased at a total cost of $8,140. The only other purchase transaction occurred during October. Ending ibventory was 760 units. Required: a. Calculate the number of units purchased in October and the cost per unit purchased in October. Purchased in October Number of units Cost per...
Chapter 6 - Part II SOLUTIONS Winter 2020 . Calculate the ending inventory and cost of goods sold for January using the FIFO and perpetual method: # units Cost/unit Total COGS # units Cost/unit Total inventory Date 02/01/20 Beginning inventory 2,873 1,709 4,582 96.35 102.17 276.813.55 174,608.53 451,422.08 02/05/20 Sold 2,500 units 02/12/20 Purchased 3,000 units @ $102.58 02/22/20 Sold 4,750 units 02/26/20 Purchased 2,000 units @ $102.65 02/22/20 Sold 1,950 units Inventory- COGS . Calculate the lower of cost...
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