Multiple Choice Question 68 Oriole Company just began business and made the following four inventory purchases...
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Homework Answers
Average cost per unit = Total cost / Total available units
= 8036 / (220+270+270+220)
= 8.20 per unit
Cost of ending inventory = 280 units * 8.20
= 2296
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Multiple Choice Question 68
Oriole Company just began business and made the following four
inventory purchases...
Sheffield Corp. just began business and made the following four inventory purchases in June: June 1 165...
Sheffield Corp. just began business and made the following four
inventory purchases in June:
June 1
165 units
$1155
June 10
220 units
1760
June 15
220 units
1980
June 28
165 units
1650
$6545
A physical count of merchandise inventory on June 30 reveals that
there are 220 units on hand. Using the FIFO inventory method, the
amount allocated to ending inventory for June is
$1595.
$2200.
$2145.
$1541.
QUESTION 3 Charlene Cosmetics Company just began business and made the following four inventory purchases in...
QUESTION 3 Charlene Cosmetics Company just began business and made the following four inventory purchases in June: June 1 150 units $ 1,040 June 10 200 units 1,560 June 15 200 units 1,680 June 28 150 units 1,320 $5,600 A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. Using the average cost method, the amount allocated to the ending inventory on June 30 is $1,639. $1,824. $1,764. $1,680.
Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1...
Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1 June 10 June 15 June 28 156 units 208 units 208 units 156 units $1080 1620 1750 1370 $5820 A physical count of merchandise inventory (rounded to whole dollar) on June 30 reveals that there are 220 units on hand. The inventory method which results in the highest gross profit for June is not determinable. the LIFO method. the FIFO method the average cost...
ESOURCES Multiple Choice Question 57 A company just starting business made the following four inventory purchases i...
ESOURCES Multiple Choice Question 57 A company just starting business made the following four inventory purchases in June Date Number of units purchased Total cost June 1 $ 390 June 10 June 15 June 28 160 units 180 units 180 units 150 units A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the UFO inventory method, the value of the ending invertory on June 10 $1320 $680 $900. $1429
Pina Colada Corp. just began business and made the following four inventory purchases in June: June 1...
Pina Colada Corp. just began business and made the following four inventory purchases in June: June 1 171 units $1026 June 10 228 units 1596 June 15 228 units 1824 June 28 171 units 1539 $5985 A physical count of merchandise inventory on June 30 reveals that there are 228 units on hand. Using the average cost method, the amount allocated to the ending inventory on June 30 is $1710. $1824. $1597. $1995.
Question 3 Tamarisk, Inc. just began business and made the following four inventory purchases in June:...
Question 3 Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1 162 units $972 June 10 216 units 1512 June 15 216 units 1728 June 28 162 units 1458 $5670 A physical count of merchandise inventory on June 30 reveals that there are 216 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is $1944. $1890 $1297. $1350.
Swifty Corporation just began business and made the following four inventory purchases in June: June June...
Swifty Corporation just began business and made the following four inventory purchases in June: June June 10 June 15 June 28 123 units 164 units 164 units 123 units $738 1148 1312 1107 14305 A physical count of merchandise Inventory on June 30 reveals that there are 164 units on hand. Using the LIFO Inventory method, the value of the ending inventory on June 30 is $984, $1435 $1476 $1025
A company just starting business made the following four inventory purchases in June: June 1 150...
A company just starting business made the following four inventory purchases in June: June 1 150 units $ 490 June 10 200 units 785 June 15 200 units 830 June 28 150 units 810 $2.915 A physical count of merchandise inventory on June 30 reveals that there are 220 units on hand. Using the Periodic Inventory System. a. Using the LIFO inventory method, the value of the ending inventory on June 30 is? b. Using the Average Cost Inventory Method...
A company just starting business made the following four inventory purchases in June: Date Number of...
A company just starting business made the following four inventory purchases in June: Date Number of units purchased Total cost June 1 100 units $ 410 June 10 200 units 575 June 15 200 units 700 June 28 180 units 530 $2215 A physical count of merchandise inventory on June 30 reveals that there are 220 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is $755. $1265. $950. $845.
Question 3 Tamarisk, Inc. just began business and made the following four inventory purchases in June:...
Question 3 Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1 162 units $972 June 10 216 units 1512 June 15 216 units 1728 June 20102 units 1458 35670 A physical count of merchandise inventory on June 30 reveals that there are 216 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is O O O O $1890. $1297. $1350 $1944
Sheffield Corp. just began business and made the following four
inventory purchases in June:
June 1
165 units
$1155
June 10
220 units
1760
June 15
220 units
1980
June 28
165 units
1650
$6545
A physical count of merchandise inventory on June 30 reveals that
there are 220 units on hand. Using the FIFO inventory method, the
amount allocated to ending inventory for June is
$1595.
$2200.
$2145.
$1541.
QUESTION 3 Charlene Cosmetics Company just began business and made the following four inventory purchases in June: June 1 150 units $ 1,040 June 10 200 units 1,560 June 15 200 units 1,680 June 28 150 units 1,320 $5,600 A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. Using the average cost method, the amount allocated to the ending inventory on June 30 is $1,639. $1,824. $1,764. $1,680.
Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1 June 10 June 15 June 28 156 units 208 units 208 units 156 units $1080 1620 1750 1370 $5820 A physical count of merchandise inventory (rounded to whole dollar) on June 30 reveals that there are 220 units on hand. The inventory method which results in the highest gross profit for June is not determinable. the LIFO method. the FIFO method the average cost...
ESOURCES Multiple Choice Question 57 A company just starting business made the following four inventory purchases in June Date Number of units purchased Total cost June 1 $ 390 June 10 June 15 June 28 160 units 180 units 180 units 150 units A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the UFO inventory method, the value of the ending invertory on June 10 $1320 $680 $900. $1429
Question 3 Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1 162 units $972 June 10 216 units 1512 June 15 216 units 1728 June 28 162 units 1458 $5670 A physical count of merchandise inventory on June 30 reveals that there are 216 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is $1944. $1890 $1297. $1350.
Swifty Corporation just began business and made the following four inventory purchases in June: June June 10 June 15 June 28 123 units 164 units 164 units 123 units $738 1148 1312 1107 14305 A physical count of merchandise Inventory on June 30 reveals that there are 164 units on hand. Using the LIFO Inventory method, the value of the ending inventory on June 30 is $984, $1435 $1476 $1025
A company just starting business made the following four inventory purchases in June: June 1 150 units $ 490 June 10 200 units 785 June 15 200 units 830 June 28 150 units 810 $2.915 A physical count of merchandise inventory on June 30 reveals that there are 220 units on hand. Using the Periodic Inventory System. a. Using the LIFO inventory method, the value of the ending inventory on June 30 is? b. Using the Average Cost Inventory Method...
Question 3 Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1 162 units $972 June 10 216 units 1512 June 15 216 units 1728 June 20102 units 1458 35670 A physical count of merchandise inventory on June 30 reveals that there are 216 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is O O O O $1890. $1297. $1350 $1944
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