Homework Answers
| Date | Particulars | Cost of goods purchased | Cost of goods sold | Ending Inventory |
| Aug. 1 | Beginning inventory | 50*$40=$2,000 | ||
| Aug. 3 | Sale | 40*$40=$1,600 | 10*$40=$400 | |
| Aug. 8 | Purchases | 80*$44=$3,520 |
10*$40=$400 80*$44=$3,520 |
|
| Aug. 21 | Sale |
10*$40=$400 60*$44=$2,640 |
20*$44=$880 | |
| Aug. 30 | Purchase | 10*$48=$480 |
20*$44=$880 10*$48=$480 |
Ending inventory = $880 + $480 = $1,360
Add Answer to:
Ornamental Iron Works, which uses the FIFO method, began August with 50 units of iron inventory...
Iron Man began August with 75 units of iron inventory that cost $20 each. During August,...
Iron Man began August with 75 units of iron inventory that cost $20 each. During August, the company completed the following inventory transactions: (Click the icon to view the transactions.) i Data Table Units Unit Cost Unit Sales Price $ 59 Aug. 3 Sale 8 Purchase 21 Sale $ 28 70 60 75 30 Purchase Print Done Requirem Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare a perpetual inventory...
Omamental Iron Works began August with 70 units of iron inventory that cost $25 each. During...
Omamental Iron Works began August with 70 units of iron inventory that cost $25 each. During August, the company completed the following inventory transactions (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been...
Steel Mill began August with 50 units of iron inventory that cost $35 each. During August,...
Steel Mill began August with 50 units of iron inventory that cost $35 each. During August, the company completed the following inventory transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered...
!!!!!!!!!!!!!! PLEASE ANSWER ALL PARTS !!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!! PLEASE ANSWER ALL PARTS !!!!!!!!!!!!!!!!!!!!!! Iron Man began August...
!!!!!!!!!!!!!! PLEASE ANSWER ALL PARTS
!!!!!!!!!!!!!!!!!!!!!!
!!!!!!!!!!!!!! PLEASE ANSWER ALL PARTS
!!!!!!!!!!!!!!!!!!!!!!
Iron Man began August with 75 units of iron inventory that cost $20 each. During August, the company completed the following inventory transactions: (Click the icon to view the transactions.) i Data Table Units Unit Cost Unit Sales Price $ 59 Aug. 3 Sale 8 Purchase 21 Sale $ 28 70 60 75 30 Purchase Print Done Requirem Requirements 1. Prepare a perpetual inventory record for the merchandise...
29A Accounting for inventory using the perpetual inventory system/FIFO, LIFO, and weighted average, and comparing FIFO,...
29A Accounting for inventory using the perpetual inventory system/FIFO, LIFO, and weighted average, and comparing FIFO, LIFO, and weighted-average Iron Man began August with 65 units of iron inventory that cost $30 each. During August, the company completed the following inventory transactions: Units Unit Cost Unit Sale Price $ 81 Aug. 3 8 85 $50 Sale Purchase Sale Purchase 75 45 Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare...
Iron R Us began August with 65 units of bronventory that cost $30 each. During August,...
Iron R Us began August with 65 units of bronventory that cost $30 each. During August, the company completed the lowing inventory transactions 110 (Click the icon to view the transactions) Read the requirements Requirement 1. Prepare a perpetual ventory record for the merchandise inventory using the FIFO Inventory costing method Start by entering the beginning inventory balances Enter the transactions in chronological order, calculating new Inventory on hand balances after each transaction Once perpetual record, calculate the quantity and...
method would it choose? P6-29A Accounting for inventory using the perpetual inventory system- FIFO, LIFO, and...
method would it choose? P6-29A Accounting for inventory using the perpetual inventory system- FIFO, LIFO, and weighted average, and comparing FIFO, LIFO, and weighted average Steel Mill began August with 50 units of iron inventory that cost $35 each. During August, the company completed the following inventory transactions: 5. Units Unit Cost Unit Sales Price $85 45 Aug. 3 8 Sale Purchase 90 $54 21 Sale 88 30 Purchase 15 58 Requirements 1. Prepare a perpetual inventory record for the...
A company began August with 75 units of inventory that cost $20 each. Assume a perpetual inventory system. During Augus...
A company began August with 75 units of inventory that cost $20 each. Assume a perpetual inventory system. During August, the company had the following transactions: E (Click the icon to view the transactions.) Determine the company's cost of goods sold for August using each of the inventory costing methods indicated. (For weighted-average calculations, round per unit costs to the nearest cent and all other amounts to the nearest dollar.) i Data Table The cost of goods sold amount for...
Please complete all of P6-29A 06-29A Accounting for inventory using the perpetual inventory system-FIFO, LIFO, and...
Please complete all of P6-29A
06-29A Accounting for inventory using the perpetual inventory system-FIFO, LIFO, and weighted average, and comparing FIFO, LIFO, and weighted-average Iron Man began August with 65 units of iron inventory that cost $30 each. During August, the company completed the following inventory transactions: Units Unit Cost Unit Sale Price Sale 50 $ 81 $ 50 Aug. 3 8 21 30 Purchase Sale Purchase 80 Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using...
Steel Mill began August with 60 units of iron inventory that cost $ 25 each. During...
Steel Mill began August with 60 units of iron inventory that
cost $ 25 each. During August the company completed the following
inventory transactions:
Units
Unit Cost
Unit Sales Price
Aug.
3
Sale
45
$72
8
Purchase
65
$41
21
Sale
55
86
30
Purchase
20
56
Requirement 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory...
Iron Man began August with 75 units of iron inventory that cost $20 each. During August, the company completed the following inventory transactions: (Click the icon to view the transactions.) i Data Table Units Unit Cost Unit Sales Price $ 59 Aug. 3 Sale 8 Purchase 21 Sale $ 28 70 60 75 30 Purchase Print Done Requirem Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare a perpetual inventory...
Omamental Iron Works began August with 70 units of iron inventory that cost $25 each. During August, the company completed the following inventory transactions (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been...
Steel Mill began August with 50 units of iron inventory that cost $35 each. During August, the company completed the following inventory transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered...
!!!!!!!!!!!!!! PLEASE ANSWER ALL PARTS
!!!!!!!!!!!!!!!!!!!!!!
!!!!!!!!!!!!!! PLEASE ANSWER ALL PARTS
!!!!!!!!!!!!!!!!!!!!!!
Iron Man began August with 75 units of iron inventory that cost $20 each. During August, the company completed the following inventory transactions: (Click the icon to view the transactions.) i Data Table Units Unit Cost Unit Sales Price $ 59 Aug. 3 Sale 8 Purchase 21 Sale $ 28 70 60 75 30 Purchase Print Done Requirem Requirements 1. Prepare a perpetual inventory record for the merchandise...
29A Accounting for inventory using the perpetual inventory system/FIFO, LIFO, and weighted average, and comparing FIFO, LIFO, and weighted-average Iron Man began August with 65 units of iron inventory that cost $30 each. During August, the company completed the following inventory transactions: Units Unit Cost Unit Sale Price $ 81 Aug. 3 8 85 $50 Sale Purchase Sale Purchase 75 45 Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare...
Iron R Us began August with 65 units of bronventory that cost $30 each. During August, the company completed the lowing inventory transactions 110 (Click the icon to view the transactions) Read the requirements Requirement 1. Prepare a perpetual ventory record for the merchandise inventory using the FIFO Inventory costing method Start by entering the beginning inventory balances Enter the transactions in chronological order, calculating new Inventory on hand balances after each transaction Once perpetual record, calculate the quantity and...
method would it choose? P6-29A Accounting for inventory using the perpetual inventory system- FIFO, LIFO, and weighted average, and comparing FIFO, LIFO, and weighted average Steel Mill began August with 50 units of iron inventory that cost $35 each. During August, the company completed the following inventory transactions: 5. Units Unit Cost Unit Sales Price $85 45 Aug. 3 8 Sale Purchase 90 $54 21 Sale 88 30 Purchase 15 58 Requirements 1. Prepare a perpetual inventory record for the...
A company began August with 75 units of inventory that cost $20 each. Assume a perpetual inventory system. During August, the company had the following transactions: E (Click the icon to view the transactions.) Determine the company's cost of goods sold for August using each of the inventory costing methods indicated. (For weighted-average calculations, round per unit costs to the nearest cent and all other amounts to the nearest dollar.) i Data Table The cost of goods sold amount for...
Please complete all of P6-29A
06-29A Accounting for inventory using the perpetual inventory system-FIFO, LIFO, and weighted average, and comparing FIFO, LIFO, and weighted-average Iron Man began August with 65 units of iron inventory that cost $30 each. During August, the company completed the following inventory transactions: Units Unit Cost Unit Sale Price Sale 50 $ 81 $ 50 Aug. 3 8 21 30 Purchase Sale Purchase 80 Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using...
Steel Mill began August with 60 units of iron inventory that
cost $ 25 each. During August the company completed the following
inventory transactions:
Units
Unit Cost
Unit Sales Price
Aug.
3
Sale
45
$72
8
Purchase
65
$41
21
Sale
55
86
30
Purchase
20
56
Requirement 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory...
Most questions answered within 3 hours.
-
Use the following set of observed frequencies to test the
independence of the two variables. Variable...
asked 10 minutes ago -
Two kg of ice at -15 °C are placed in a 2 kg bath of water...
asked 10 minutes ago -
Describe the following with suitable
examples.
1- Security Policy Heterogeneity
2-Security Model Heterogeneity
3-Security Mechanism Heterogeneity...
asked 11 minutes ago -
Please Identify the Term "Determinism" in Psychology
asked 9 minutes ago -
The table below represents the number of republicans, democrats
and independent voting on a specific issue....
asked 15 minutes ago -
List and compare different forms of passive transport and active
transport.
asked 23 minutes ago -
In Netherland Dwarf rabbits, dwarf size is determined by allele
N, and normal-size by allele n....
asked 29 minutes ago -
During Heaton Company’s first two years of operations, it
reported absorption costing net operating income as...
asked 43 minutes ago -
Consider testing the
hypotheses:
H0: p = 0.56
H1: p > 0.56
where p is
the...
asked 47 minutes ago -
In a two-factor analysis of variance a main effect is defined as
____.
a. the unique...
asked 54 minutes ago -
A bank's loan officer rates applicants for credit. The ratings
are normally distributed with a mean...
asked 54 minutes ago -
Fill in the following information for Adipic Acid: molecular
weight, g or ml, mole, melting point,...
asked 1 hour ago