Swifty Inc. uses a perpetual inventory system. Its records show the following for the month of May.
Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula.
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Swifty Inc. uses a perpetual inventory system. Its records show the following for the month of May.
With an explanation please Marigold Inc. uses a perpetual inventory system. Its records show the following...
With an explanation please
Marigold Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Total Date Explanation Units Cost Cost May 1 Inventory 29 $9 $261 May 15 Purchase 24 10 240 May 18 Sale (49) May 24 Purchase 38 11 418 Total 42 $919 42 $919 (a) Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. Cost of goods sold $...
Question B, please. Marigold Inc. uses a perpetual inventory system. Its records show the following for...
Question B, please.
Marigold Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Total Date Explanation Units Cost Cost May 1 Inventory 29 $9 $261 May 15 Purchase 24 10 240 May 18 Sale (49) May 24 Purchase 38 11 418 Total 42 $919 42 $919 Your answer is correct. Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. Cost of goods...
Sheffield Inc. uses a perpetual inventory system. Its records show the following for the month of...
Sheffield Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Total Date Explanation Units Cost Cost May 1 Inventory 29 $7 $203 May 15 Purchase 26 8 208 May 18 Sale (44) May 24 Purchase 41 9 369 Total 52 $780 52 (b) Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (For average, use 3 decimal places, e.g. 15.235 in...
Bramble Inc. uses a perpetual inventory system. Its records show the following for the month of...
Bramble Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Date Explanation Units Cost May 1 Inventory 33 $9 May 15 Purchase 25 10 May 18 Sale (45) May 24 Purchase 42 11 Total 55 Total Cost $297 250 462 $1,009 Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (For average, use 3 decimal places, e.g. 15.235 in your calculations...
Windsor, Inc. uses a periodic inventory system. Its records show the following for the month of...
Windsor, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 88 units were sold. Unit Cost $14 May 1 Inventory 15 Purchases 24 Purchases Totals Units 41 34 47 Total Cost $574 578 846 $1,998 122 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 $ Cost of goods sold
Kingbird, Inc. uses a periodic inventory system. Its records show the following for the month of...
Kingbird, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 130 units were sold. May 1 15 24 Unit Cost $13 1 6 Units 60 50 70 180 Inventory Purchases Purchases Totals Total Cost $780 800 1,190 $2,770 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 Cost of goods sold
Concord Co, uses a periodic inventory system. Its records show the following for the month of...
Concord Co, uses a periodic inventory system. Its records show the following for the month of May, in which 72 units were sold. Unit Units Cost Total Cost May 1 Inventory 37 $11 $407 15 Purchases 350 24 Purchases 480 $1237 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31$ Cost of goods sold
Coronado Co. uses a periodic inventory system. Its records show the following for the month of...
Coronado Co. uses a periodic inventory system. Its records show
the following for the month of May, in which 74 units were
sold.
Units
Unit Cost
Total Cost
May 1
Inventory
34
$10
$340
15
Purchases
29
13
377
24
Purchases
33
14
462
Totals
96
$1,179
Compute the ending inventory at May 31 and cost of goods sold using
the FIFO and LIFO methods.
FIFO
LIFO
Ending inventory at May 31
$
$
Cost of goods sold
$
$
Ballas Co. uses a periodic inventory system. Its records show the following for the month of...
Ballas Co. uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold. Unit Cost Units Total Cost $240 A May 1 15 24 Inventory Purchases Purchases 30 25 35 $8 11 12 275 420 Totals 90 $935 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO * Ending inventory at May 31 **** ** Cost of goods sold
Ballas Co. uses a periodic inventory system. Its records show the following for the month of...
Ballas Co. uses a periodic inventory system. Its records show
the following for the month of May, in which 148 units were
sold.
Unit Units Cost Total Cost May 1 Inventory65 15 Purchases55 24 Purchases 76 196 $9 12 13 $585 660 988 $2,233 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 Cost of goods sold
With an explanation please
Marigold Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Total Date Explanation Units Cost Cost May 1 Inventory 29 $9 $261 May 15 Purchase 24 10 240 May 18 Sale (49) May 24 Purchase 38 11 418 Total 42 $919 42 $919 (a) Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. Cost of goods sold $...
Question B, please.
Marigold Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Total Date Explanation Units Cost Cost May 1 Inventory 29 $9 $261 May 15 Purchase 24 10 240 May 18 Sale (49) May 24 Purchase 38 11 418 Total 42 $919 42 $919 Your answer is correct. Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. Cost of goods...
Sheffield Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Total Date Explanation Units Cost Cost May 1 Inventory 29 $7 $203 May 15 Purchase 26 8 208 May 18 Sale (44) May 24 Purchase 41 9 369 Total 52 $780 52 (b) Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (For average, use 3 decimal places, e.g. 15.235 in...
Bramble Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Date Explanation Units Cost May 1 Inventory 33 $9 May 15 Purchase 25 10 May 18 Sale (45) May 24 Purchase 42 11 Total 55 Total Cost $297 250 462 $1,009 Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (For average, use 3 decimal places, e.g. 15.235 in your calculations...
Windsor, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 88 units were sold. Unit Cost $14 May 1 Inventory 15 Purchases 24 Purchases Totals Units 41 34 47 Total Cost $574 578 846 $1,998 122 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 $ Cost of goods sold
Kingbird, Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 130 units were sold. May 1 15 24 Unit Cost $13 1 6 Units 60 50 70 180 Inventory Purchases Purchases Totals Total Cost $780 800 1,190 $2,770 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 Cost of goods sold
Concord Co, uses a periodic inventory system. Its records show the following for the month of May, in which 72 units were sold. Unit Units Cost Total Cost May 1 Inventory 37 $11 $407 15 Purchases 350 24 Purchases 480 $1237 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31$ Cost of goods sold
Coronado Co. uses a periodic inventory system. Its records show
the following for the month of May, in which 74 units were
sold.
Units
Unit Cost
Total Cost
May 1
Inventory
34
$10
$340
15
Purchases
29
13
377
24
Purchases
33
14
462
Totals
96
$1,179
Compute the ending inventory at May 31 and cost of goods sold using
the FIFO and LIFO methods.
FIFO
LIFO
Ending inventory at May 31
$
$
Cost of goods sold
$
$
Ballas Co. uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold. Unit Cost Units Total Cost $240 A May 1 15 24 Inventory Purchases Purchases 30 25 35 $8 11 12 275 420 Totals 90 $935 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO * Ending inventory at May 31 **** ** Cost of goods sold
Ballas Co. uses a periodic inventory system. Its records show
the following for the month of May, in which 148 units were
sold.
Unit Units Cost Total Cost May 1 Inventory65 15 Purchases55 24 Purchases 76 196 $9 12 13 $585 660 988 $2,233 Totals Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 Cost of goods sold
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