A company has cost of goods available for sale of $250,000, sales of \$287,000 , and...
Homework Answers
gross profit%=gross profit/Net sales
gross profit=(287,000*30%)=$86100
gross profit=Sales-Cost of goods sold
Cost of goods sold=287,000-86100
=$200900
Cost of goods sold=cost of goods available for sale-ending
inventory
ending inventory=250,000-200900
=$49100.
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company has cost of goods available for sale of $250,000, sales of
\$287,000 , and...
A retail company has goods available for sale of $210,000 at cost and $350,000 at retail...
A retail company has goods available for sale of $210,000 at cost and $350,000 at retail price. It also had sales of $300,000 for the period. What is the estimated cost of ending inventory using the retail method? $35,000 $30,000 $50,000 $170,000 A company has $75,000 (at cost) of goods available for sale. Sales are $80,000, and the gross profit (markup) rate is 30%. What is estimated cost of ending inventory, using the gross profit method? $19,000 $42,000 $24,000 $51,000...
Jefferson Company has net sales of $301,000 and cost of goods available for sale of $270,100....
Jefferson Company has net sales of $301,000 and cost of goods available for sale of $270,100. If the gross profit ratio is typically 30%, the estimated cost of the ending Inventory under the gross profit method would be: Multiple Choice $30,900 $90.300 O $59.400 a $179,800 $110,000
If net sales are $390,000. cost of goods available for sale is $340,000, and gross profit...
If net sales are $390,000. cost of goods available for sale is $340,000, and gross profit percentage is 35% What is the amount of ending inventory? Ending inventory
Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross...
Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic Weighted Average Answer Units Date Transaction 1-Jan Beginning Inventory 28-Mar Purchase 22-Aug Purchase 14-Oct Purchase Unit Cost $60 $66 $70 Total Cost $600 $1,320 $1,400 $1,900 $5,220 $76 The Company sold 45 Units for $100 each on October 28. (Dollars) Beginning Inventory Purchases Cost of Goods Available for Sale Gross Sales COGS Gross Profit Ending Inventory, Sales
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Calculating Cost of Goods Available for Sale, Ending
Inventory, Sales, Cost of Goods Sold, and Gross Profit under
Periodic LIFOLIFO (Periodic)
Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross...
Calculating Cost of Goods Available for Sale, Ending
Inventory, Sales, Cost of Goods Sold, and Gross Profit under
Periodic FIFO, LIFO, and Weighted Average
Cost
FIFO (PERIODIC)
Unit Selling Price July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cost 40 $10 200 (100) 140 $14 Units Cost per Unit Total Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Units from Beginning Inventory Units from July 13 Purchase...
Calculating Cost of Goods Available for Sale, EndingInventory, Sales, Cost of Goods Sold, and Gross...
Calculating Cost of Goods Available for Sale, Ending
Inventory, Sales, Cost of Goods Sold, and Gross Profit under
Periodic Weighted Average CostWeighted Average (Periodic)
Questions: 1. Ending Inventory? 2. Total cost available for sale? 3. Total number of units available...
Questions:
1. Ending Inventory?
2. Total cost available for sale?
3. Total number of units available for sale?
4. Ending inventory if the company uses LIFO?
5. Gross profit if the company uses FIFO?
6. Cost of goods sold if the company uses average cost?
7. Ending inventory if the company uses average cost?
8. gross profit if the company uses average cost?
Aurora Co. has beginning inventory of 15,000 units at a cost of $34,000. Total sales of 225,000...
Determine the cast of goods available for sale. The cost of goods available for sale 1...
Determine the cast of goods available for sale. The cost of goods available for sale 1 9 1434 SHOW SOLUTION LINK TO TEXT VIDEO: SIMILAR PROBLEM Attempts: 1 of 3 used Collapse question part (61) Your answer is correct. Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Average cost per unit 24.88 SHOW SOLUTION LINK TO TEXT VIDEO: SIMILAR PROBLEM Attempts: 2 of 3 used (62) x Your answer is incorrect. Try again. Determine (1)...
thanks for helping Ending inventory is subtracted from cost of goods available for sale to compute:...
thanks for helping
Ending inventory is subtracted from cost of goods available for sale to compute: Oa. gross profit. Ob. cost of goods sold. Oc. beginning inventory. Od. net sales.
Jefferson Company has net sales of $301,000 and cost of goods available for sale of $270,100. If the gross profit ratio is typically 30%, the estimated cost of the ending Inventory under the gross profit method would be: Multiple Choice $30,900 $90.300 O $59.400 a $179,800 $110,000
If net sales are $390,000. cost of goods available for sale is $340,000, and gross profit percentage is 35% What is the amount of ending inventory? Ending inventory
Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic Weighted Average Answer Units Date Transaction 1-Jan Beginning Inventory 28-Mar Purchase 22-Aug Purchase 14-Oct Purchase Unit Cost $60 $66 $70 Total Cost $600 $1,320 $1,400 $1,900 $5,220 $76 The Company sold 45 Units for $100 each on October 28. (Dollars) Beginning Inventory Purchases Cost of Goods Available for Sale Gross Sales COGS Gross Profit Ending Inventory, Sales
Calculating Cost of Goods Available for Sale, Ending
Inventory, Sales, Cost of Goods Sold, and Gross Profit under
Periodic LIFOLIFO (Periodic)
Calculating Cost of Goods Available for Sale, Ending
Inventory, Sales, Cost of Goods Sold, and Gross Profit under
Periodic FIFO, LIFO, and Weighted Average
Cost
FIFO (PERIODIC)
Unit Selling Price July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cost 40 $10 200 (100) 140 $14 Units Cost per Unit Total Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Units from Beginning Inventory Units from July 13 Purchase...
Calculating Cost of Goods Available for Sale, Ending
Inventory, Sales, Cost of Goods Sold, and Gross Profit under
Periodic Weighted Average CostWeighted Average (Periodic)
Questions:
1. Ending Inventory?
2. Total cost available for sale?
3. Total number of units available for sale?
4. Ending inventory if the company uses LIFO?
5. Gross profit if the company uses FIFO?
6. Cost of goods sold if the company uses average cost?
7. Ending inventory if the company uses average cost?
8. gross profit if the company uses average cost?
Aurora Co. has beginning inventory of 15,000 units at a cost of $34,000. Total sales of 225,000...
Determine the cast of goods available for sale. The cost of goods available for sale 1 9 1434 SHOW SOLUTION LINK TO TEXT VIDEO: SIMILAR PROBLEM Attempts: 1 of 3 used Collapse question part (61) Your answer is correct. Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Average cost per unit 24.88 SHOW SOLUTION LINK TO TEXT VIDEO: SIMILAR PROBLEM Attempts: 2 of 3 used (62) x Your answer is incorrect. Try again. Determine (1)...
thanks for helping
Ending inventory is subtracted from cost of goods available for sale to compute: Oa. gross profit. Ob. cost of goods sold. Oc. beginning inventory. Od. net sales.
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