Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.20 each. During the period, the company purchased inventory items as follows. Glasgow sold 350 units after purchase 3 for $10.40 each.
Purchase | No. of Items | Cost | ||||
1 | 330 | $ | 2.70 | |||
2 | 135 | $ | 2.80 | |||
3 | 55 | $ | 3.20 |
Glasgow's ending inventory under LIFO would be:
a. 635
b. 700
c. 800
d. 550
Ending inventory = Units available for sale - Sales
= (80+330+135+55)-350
= 250
As goods are soulf under lifo ending inventory belongs to first available units
= (80*2.20) + (170*2.70)
= 635
Option A
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.20 each. During...
Glasgow Enterprises
started the period with 60 units in beginning inventory that cost
$2.20 each. During the period, the company purchased inventory
items as follows. Glasgow sold 290 units after purchase 3 for
$10.40 each.
Purchase
No. of Items
Cost
1
270
$
2.70
2
185
$
2.80
3
55
$
3.20
Glasgow's cost of
goods sold under FIFO would be:
Multiple Choice
$638.
$834.
$928.
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.20...
Glasgow Enterprises started the period with 70 units in beginning inventory that cost $2.70 each. During the period, the company purchased inventory items as follows, Glasgow sold 240 units after purchase 3 for $10.80 each. Purchase No. of Items 220 160 60 Cost $3.20 $3.30 $3.70 1 Glasgow's ending inventory under LIFO would be Multiple Choice $891
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Purchase No. of Items 390 105 55 Cost $2.50 $2.60 $3.00 3 Glasgow sold 300 units after purchase 3 for $8.10 each. What is Glasgow's ending inventory under LIFO? Multiple Choice $930 $806 $745 $620
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.00 each. During the period, the company purchased Inventory Items as follows. Glasgow sold 230 units after purchase 3 for $10.00 each Purchase No. of Items 210 Cost $2.50 82.60 53.00 155 Glasgow's cost of goods sold under FIFO would be Multiple Choice Ο φ620 Ο οοο. Ο Ο οιοο. Ο
[The following information applies to the questions displayed below.] Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.70 each. During the period, the company purchased inventory items as follows: Purchase No. of Items Cost 1 250 $ 3.20 2 110 $ 3.30 3 60 $ 3.70 Glasgow sold 270 units after purchase 3 for $10.20 each. What is Glasgow's ending inventory under LIFO?
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Purchase 1 2 3 No. of Items 390 105 55 Cost $2.50 $2.60 $3.00 Glasgow sold 300 units after purchase 3 for $8.10 each. What is Glasgow's cost of goods sold under FIFO? Multiple Choice $720 o $600 $900 $802 < Prev 24 25 26 Next > of 28 Q Search or enter website name...
[The following information applies to the questions displayed below.] Glasgow Enterprises started the period with 70 units in beginning inventory that cost $2.70 each. During the period, the company purchased inventory items as follows: Purchase No. of Items Cost 1 220 $ 3.20 2 160 $ 3.30 60 $ 3.70 Glasgow sold 240 units after purchase 3 for $10.20 each. What is Glasgow's ending inventory under LIFO?
[The following information applies to the questions displayed below.] Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.70 each. During the period, the company purchased inventory items as follows: Purchase No. of Items Cost 1 250 $ 3.20 2 110 $ 3.30 3 60 $ 3.70 Glasgow sold 270 units after purchase 3 for $10.20 each. What is Glasgow's cost of goods sold under FIFO?
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Purchase No. of Itens Cost 1 390 $2.50 2 105 $2.60 3 55 $3.00 Glasgow sold 300 units after purchase 3 for $8.10 each What is Glasgow's ending inventory under weighted average rounded)? Multiple Choice $778 o $785 $753 O $686 < Prev 26 of 28 !!! Next > G Q Search or enter website...
lasgow Enterprises started the period with 80 units in beginning inventory that cost $1.90 each. During the period, the company purchased inventory items as follows. Glasgow sold 265 units after purchase 3 for $1.90 each. Purchase No. of Items Cost 1 400 $ 2.40 2 100 $ 2.50 3 60 $ 2.90 Glasgow's ending inventory under weighted average would be approximately: a. 900 b. 636 c. 786 d. 907