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Oxendine Company's inventory records for the month of November reveal the following Units Unit Cost $18.00...
X LO5.6.7 Problem 5-12A Inventory Costing we Story Company's inventory records for the month of November...
X LO5.6.7 Problem 5-12A Inventory Costing we Story Company's inventory records for the month of November reveal the following: Inventory. November 1 300 units @ $27.00 November 4, purchase 375 units @ $26.50 November 7. sale 450 units @ $63.00 November 13, purchase 330 units @ $26.00 November 18, purchase 225 units @ $25.40 November 22, solo 570 units @ $63.75 November 24, purchase 300 units @ $25.00 November 28, solo 165 units @ $64.50 Selling and administrative expenses for...
Patricia Company reports the following for the month of June. Date Explanation Units Unit Cost Total...
Patricia Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 340 $5 $1,700 12 Purchase 640 6 3,840 23 Purchase 840 7 5,880 Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 710 units occurred on June 15 for a selling price of $8 and a sale of 740 units on June...
Grouper Company's inventory records show the following data for the month of September: Units Unit Cost...
Grouper Company's inventory records show the following data for the month of September: Units Unit Cost $3.20 Inventory, September 1 Purchases: September 8 460 3.60 September 18 300 3.70 A physical inventory on September 30 shows 150 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. Ending inventory $ Cost of goods sold $
Shellhammer Company's inventory records show the following data for the month of September: Units Unit Cost...
Shellhammer Company's inventory records show the following data
for the month of September:
Units
Unit Cost
Inventory,
September 1
100
$3.34
Purchases:
September 8
450
3.50
September 18
350
3.70
A physical inventory on September 30 shows 200 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses LIFO inventory costing and a periodic inventory
system.
Ending inventory
$
Cost of goods sold
$
Bonita Company reports the following for the month of June. Date Explanation Units Unit Cost Total...
Bonita Company reports the following for the month of
June.
Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
200
$3
$600
12
Purchase
400
6
2,400
23
Purchase
400
7
2,800
30
Inventory
50
Assume a sale of 500 units occurred on June 15 for a selling price
of $8 and a sale of 450 units on June 27 for $9.
Your answer is correct.
Calculate cost of goods available for sale.
The cost of goods available for...
Skysong, Inc. reports the following for the month of June. Date Explanation Units Unit Cost Total...
Skysong, Inc. reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 250 $8 $2,000 12 Purchase 500 9 4,500 23 Purchase 375 10 3,750 30 Inventory 125 Assume a sale of 550 units occurred on June 15 for a selling price of $11 and a sale of 450 units on June 27 for $12. Calculate the cost of the ending inventory and the cost of goods sold for each cost flow...
The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inv...
The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 50 $ 10 July 13 Purchase 250 13 July 25 Sold (100 ) $ 15 July 31 Ending Inventory 200 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. FIFO (Periodic) Units Cost per Unit Total Beginning Inventory 50 $10.00 $500...
Exercise 6. A company's inventory records indicate the following data for the month of April: April 1 April 5 April...
Exercise 6. A company's inventory records indicate the following data for the month of April: April 1 April 5 April 9 April 14 April 20 April 30 Beginning Purchase Sale Purchase Sale Purchase 350 units at $18 each 290 units at $20 each 500 units at $55 each 250 units at $22 each 200 units at $55 each 240 units at $25 each Compute inventory and cost of goods sold in a perpetual system using the methods of FIFO, LIFO,...
26. A company's inventory records indicate the following data for the month of April. April 1...
26. A company's inventory records indicate the following data for the month of April. April 1 April 5 April 9 April 14 April 20 April 30 Beginning Purchase Sale Purchase Sale Purchase 100 units at $ 10 each 100 units at $ 11 each 150 units at $ 10 each 50 units at $ 12 each 60 units at $ 10 each 100 units at $ 13 each 1. If the company uses the first-in, first-out (FIFO) method and the...
Kaleta Company uses the perpetual inventory system and reports the following for the month of June....
Kaleta Company uses the perpetual inventory system and reports
the following for the month of June.
Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
200
$5
$1,000
12
Purchase
400
6
2,400
23
Purchase
300
7
2,100
30
Inventory
100
Assume a sale of 440 units occurred on June 15 for a selling price
of $8 and a sale of 360 units on June 27 for $9.
Calculate the cost of the ending inventory and the cost of...
X LO5.6.7 Problem 5-12A Inventory Costing we Story Company's inventory records for the month of November reveal the following: Inventory. November 1 300 units @ $27.00 November 4, purchase 375 units @ $26.50 November 7. sale 450 units @ $63.00 November 13, purchase 330 units @ $26.00 November 18, purchase 225 units @ $25.40 November 22, solo 570 units @ $63.75 November 24, purchase 300 units @ $25.00 November 28, solo 165 units @ $64.50 Selling and administrative expenses for...
Grouper Company's inventory records show the following data for the month of September: Units Unit Cost $3.20 Inventory, September 1 Purchases: September 8 460 3.60 September 18 300 3.70 A physical inventory on September 30 shows 150 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. Ending inventory $ Cost of goods sold $
Shellhammer Company's inventory records show the following data
for the month of September:
Units
Unit Cost
Inventory,
September 1
100
$3.34
Purchases:
September 8
450
3.50
September 18
350
3.70
A physical inventory on September 30 shows 200 units on hand.
Calculate the value of ending inventory and cost of goods sold if
the company uses LIFO inventory costing and a periodic inventory
system.
Ending inventory
$
Cost of goods sold
$
Bonita Company reports the following for the month of
June.
Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
200
$3
$600
12
Purchase
400
6
2,400
23
Purchase
400
7
2,800
30
Inventory
50
Assume a sale of 500 units occurred on June 15 for a selling price
of $8 and a sale of 450 units on June 27 for $9.
Your answer is correct.
Calculate cost of goods available for sale.
The cost of goods available for...
Exercise 6. A company's inventory records indicate the following data for the month of April: April 1 April 5 April 9 April 14 April 20 April 30 Beginning Purchase Sale Purchase Sale Purchase 350 units at $18 each 290 units at $20 each 500 units at $55 each 250 units at $22 each 200 units at $55 each 240 units at $25 each Compute inventory and cost of goods sold in a perpetual system using the methods of FIFO, LIFO,...
26. A company's inventory records indicate the following data for the month of April. April 1 April 5 April 9 April 14 April 20 April 30 Beginning Purchase Sale Purchase Sale Purchase 100 units at $ 10 each 100 units at $ 11 each 150 units at $ 10 each 50 units at $ 12 each 60 units at $ 10 each 100 units at $ 13 each 1. If the company uses the first-in, first-out (FIFO) method and the...
Kaleta Company uses the perpetual inventory system and reports
the following for the month of June.
Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
200
$5
$1,000
12
Purchase
400
6
2,400
23
Purchase
300
7
2,100
30
Inventory
100
Assume a sale of 440 units occurred on June 15 for a selling price
of $8 and a sale of 360 units on June 27 for $9.
Calculate the cost of the ending inventory and the cost of...
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