Salmone Company reported the following purchases and sales of
its only product. Salmone uses a perpetual inventory
system. Determine the cost assigned to cost of goods sold using
FIFO.
Date | Activities | Units Acquired at Cost | Units Sold at Retail |
May 1 | Beginning Inventory | 310 units @ $16 | |
5 | Purchase | 300 units @ $18 | |
10 | Sales | 220 units @ $26 | |
15 | Purchase | 180 units @ $19 | |
24 | Sales | 170 units @ $27 | |
$7,380
$6,400
$7,190
$6,590
$13,780
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual...
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO. Activities May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales Units Acquired at Cost Units Sold at Retail 310 units @ $16 300 units @ $18 220 units @ $26 180 units @ $19 170 units @ $27 Multiple Choice O $6,400 $7,190 $6,590 $7,380
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO. Week 6 Chapter 6 Quiz Help Save & Exit 15 Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO. Units Sold at Retail Units Acquired at Cost 200 units @ $15 245 units...
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO. Units Sold at Retail Units Acquired at Cost 330 units @ $18 310 units @ $20 Date Activities May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales 230 units @ $28 190 units @ $21 180 units @ $29 Multiple Choice $8,260 $8,380 $7,540 $8,590 O $7750 $7,750
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 210 units @ $16.00 5 Purchase 250 units @ $18.00 10 Sales 170 units @ $26.00 15 Purchase 130 units @ $19.00 24 Sales 120 units @ $27.00 a.$2,260 b.$3,180 c.$1,860 d.$3,580 e.$2,100
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO Units Sold at Retail Units Acquired at Cost 300 units@$15 295 units@$17 Activities Date May 1 Beginning Inventory Purchase 215 units $25 Sales 10 175 units $18 Purchase 15 165 units $26 Sales 24
Salmone Company reported the following purchases and sales of its only product Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO Units sold at Retail Date Activities May 1 Beginning Inventory 5 Purchase 10 Sales 15 Purchase 24 Sales Units Acquired at cost 180 units $13 235 units $15 115 units $16 155 units @ $23 105 units @ $24 Multiple Choice O $2,700 OSIS o $1.540 O S4060 0 $4,005
Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 150 units @ $10.00 5 Purchase 220 units @ $12.00 10 Sales 140 units @ $20.00 15 Purchase 100 units @ $13.00 24 Sales 150 units @ $21.00 $2,260 $3,180 $1,860 $3,580 $2,100
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 170 units @ $12 5 Purchase 230 units @ $14 10 Sales 150 units @ $22 15 Purchase 110 units @ $15 24 Sales 100 units @ $23 Multiple Choice $6,910 $3,160 $3,640 $3,750 $3,310
Salmone Company reported the following purchases and sales for its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 150 units @ $10.00 5 Purchase 220 units @ $12.00 10 Sales 140 units @ $20.00 15 Purchase 100 units @ $13.00 24 Sales 90 units @ $21.00 Multiple Choice $2,590 $2,980 $2,460 $2,860 $2,850
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to ending inventory using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 180 units @ $13 5 Purchase 235 units @ $15 10 Sales 155 units @ $23 15 Purchase 115 units @ $16 24 Sales 105 units @ $24 Multiple Choice $7,705 $3,540 $3,700 $4,060 $4,165