Answer: $429
Explanation
Cost of goods sold for the 17 units that were sold = (15 units * $25) + (2 units * $27)
= $375 + 54
= $429
17. A company has beginning inventory of 15 units at a cost of $25 each on...
A company has beginning inventory of 19 units at a cost of $19 each on February 1. On February 3, it purchases 29 units at $21 each. 25 units are sold on February 5. Using the FIFO periodic inventory method, what is the cost of the 25 units that are sold? Multiple Choice $487 $504 $491 $494 $475
A company has beginning inventory of 12 units at a cost of $28 each on February 1. On February 3, it purchases 38 units at $30 each. 17 units are sold on February 5. Using the periodic FIFO inventory method, what is the cost of the 17 units that are sold?
A company has beginning inventory of 42 units at a cost of $13.00 each on October 1. On October 5, it purchases 27 units at $14.00 per unit. On October 12 it purchases 37 units at $15.00 per unit. On October 15, it sells 81 units. Using the FIFO periodic inventory method, what is the value of the inventory at October 15 after the sale?
Saved Help Save & Exit Submit A company has beginning inventory of 12 units at a cost of $28 each on February 1. On February 3, it purchases 38 units at $30 each. 17 units are sold on February 5. Using the periodic FIFO inventory method, what is the cost of the 17 units that are sold? Multiple Choice Ο Ο $490 Ο $486 Ο Ο $504 Ο () $514 Ο 4476 31 of 47 Next >
A company has beginning inventory of 32 units at a cost of $12.00 each on October 1. On October 5, it purchases 22 units at $13.00 per unit. On October 12 it purchases 32 units at $14.00 per unit. On October 15, it sells 66 units. Using the FIFO periodic inventory method, what is the value of the inventory at October 15 after the sale?
A company had beginning inventory of 11 units at a cost of $17 each on March 1. On March 2, it purchased 11 units at $28 each. On March 6 it purchased 5 units at $22 each. On March 8, it sold 26 units for $65 each. Using the FIFO perpetual inventory method, what was the cost of the 26 units sold?
Pacific Company starts the year with a beginning inventory of 4,400 units at $7 per unit. The company purchases 6,400 units at $6 each in February and 3,400 units at $8 each in March. Pacific sells 1,650 units during this quarter. Pacific has a perpetual inventory system and uses the FIFO inventory costing method. What is the cost of goods sold for the quarter? Multiple Choice $11,550 $9,900 $12,375 $13,200 Alphabet Company, which uses the periodic inventory method, purchases different...
Units Unit Cost July 1 Beginning Inventory 2000 $35 July 5 Sold 1000 July 13 Purchased 6000 37 July 17 Sold 3000 July 25 Purchased 8000 39 July 27 Sold 5000 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. FIFO LIFO Weight Average Cost...
help with questions 8-9
September 1, the beginning inventory for Burkemper Company was 110 units at $100 each. Purchases and sales during September were: Purchases During Sept 2016 Sept7 120 units @ $112 Sept 17 70 units @ $ 88 Sept 25 100 units @ $ 84 Sales During Sept 2016 Sept 12 70 units Sept 22 110 units Sept 29 90 units What is the cost of ending inventory for Burkemper Company on September 30 if the periodic LIFO...
Company A uses the periodic inventory system. The beginning inventory consisted of 360 units that cost $65 each. During the month of febuary, the company made two purchases: on febuary 15, they bought 450 units at $68 each; on febuary 25, they bought 270 units at $70 each. Company A also sold 900 units during the month Using LIFO, what is the amount of ending inventory.