Homework Answers
| Qty | rate | Amt | ||
| Purchase | 1200 | 115 | 138000 | |
| Purchase | 890 | 97 | 86330 | |
| Purchase | 450 | 63 | 28350 | |
| Purchase | 200 | 74 | 14800 | |
| 2740 | 267480 | |||
| ending inventory | 992 | |||
| Unit sold = | 1748 | |||
| Ending LIFO inventory value | 158176 | |||
| =1200*115+208*97 | ||||
| Cost of goods sold | 109304 | |||
| 267480-158176 | ||||
| COGS as % of sales | 25.24% | |||
| 109304/433121 | ||||
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QUESTION 6 Compute the ending LIFO inventory and cost of goods sold assuming: $433,121 in sales...
Q.4. Use the format in Exhibit 9-1 to compute the ending LIFO inventory and cost of...
Q.4. Use the format in Exhibit 9-1 to compute the ending LIFO inventory and cost of goods sold assuming: $550,000 in sales Beginning inventory 1125 units @ $175 Purchases of 890 units @ $150 450 units @ $165 200 units @ $140 Ending inventory 892 units What is the dollar value of the ending inventory. In your answer, format the number using commas as needed. Do not include a dollar sign. Round to nearest whole dollar (no decimal and no...
inventory calcuations d. Compute the cost of ending inventory using the LIFO method Units Sold Cost...
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FIFO & LIFO Inventory Study the FIFO and LIFO explanations in Chapter 8. 1) Compute ending...
FIFO & LIFO Inventory Study the FIFO and LIFO explanations in Chapter 8. 1) Compute ending FIFO inventory and cost of goods sold. Assume $90,000 sales; beginning inventory 500 units @$50; purchases of 400 units @$50; 100 units @$65; 400 units @$80. 2) Compute the cost of goods sold percentage of sales. 3) Compute ending LIFO inventory and cost of goods sold, using same assumptions. 4) Compute the cost of goods sold percentage of sales. 5) Comment on the difference...
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E7-6 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost...
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Assuming that the periodic inventory method is used, compute the cost of goods sold and ending...
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1. Calculate cost of ending inventory and cost of goods sold using periodic FIFO, LIFO, and...
1. Calculate cost of ending inventory and cost of goods sold using periodic FIFO, LIFO, and Weighted Average Cost methods X FILE 5.a. HOME % Calibri INSERT PAGE LAYOUT Inventory costing methods - Excel FORMULAS DATA REVIEW ? x VIEW - 6 Sign In Paste B IU - -A- Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard D66 1 Better Bottles, Inc., uses a periodic inventory system and has the following information available: of Units...
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