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Problem 2 (10 pts.): Julian Junkets uses a perpetual system of inventory and has the following inventory information...
perpetual inventory using LIFO Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method,...
perpetual inventory using LIFO
Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on July 21 and (b) the inventory on July 31. a. Cost of merchandise sold on July 21 b. Inventory on July 31 * Show Me How Calculator Printiem Perpetual Inventory Using UFO Beginning inventory, purchases, and sales for Item C283 are as follows July 1 Inventory 106 units $21 5 Sale 85 units 11 Purchase 118...
(d) Inventory Calculations Keaton Accessories uses a perpetual inventory system. The company's beginning inventory of a...
(d) Inventory Calculations Keaton Accessories uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Quantity Total Cost Unit Cost Beginning Inventory (Jan. 1) $11,200 160 $70 Purchase (Jan. 9) 80 75 6,000 6,080 Purchase (Jan. 21) 80 76 $23,280 320 Total On January 24, Keaton sold 180 units of this product. The other 140 units remain in inventory at January 31. goods sold using each...
eBook Show Me HowB Calculator Print ltem FIFO and LIFO Costs Under Perpetual Inventory System The...
eBook Show Me HowB Calculator Print ltem FIFO and LIFO Costs Under Perpetual Inventory System The following units of a particular item were available for sale during the year: Beginning inventory Sale First purchase Sale Second purchase Sale The firm uses the perpetual inventory system, and there are 5 a. What is the total cost of the ending inventory according to FIFO? 3,600 units at $4.00 2,400 units at $8.00 8,000 units at $4.20 6,000 units at $8.00 7,500 units...
Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following information:...
Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following information: Jan 1 Beginning inventory 1,100 units @ $3.90 Jan 12 Purchase 1,200 units @ $3.70 Jan 18 Sales 1,300 units @ $5.40 Jan 21 Purchase 1,100 units @ $4.00 Jan 25 Purchase 900 units @ $3.80 Jan 31 Sales 1,250 units @ $5.40 TB MC Qu. 05-55 Assuming Chase uses a LIFO cost flow... 1. Assuming Chase uses a LIFO cost flow method, what...
Required information SB Beech Soda, Inc. uses a perpetual inventory... Beech Soda, Inc. uses a perpetual...
Required information SB Beech Soda, Inc. uses a perpetual inventory... Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Quantity Unit Cost Total 3 Cost $ 300 336 Beginning inventory (Jan. 1) Purchase (Jan. 11) Purchase (Jan. 20) Total $1.257 On January 14, Beech Soda, Inc. sold 29 units of this product. The other 34 units remained in inventory at January 31....
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: July...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: July 1 Inventory 82 units @ $29 5 Sale 66 units 11 Purchase 91 units @ $32 21 Sale 76 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on July 21 and (b) the inventory on July 31. a. Cost of merchandise sold on July 21 $ b. Inventory on July 31 $
[The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system....
[The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Units Acquired at Cost 240 units e$53.80 per unit 295 units e $58.80 per unit. 400 units e $88.80 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 155 units & $63.80 per unit...
Chase Company uses the perpetual inventory method. The inventory records for Chase reflected the following information:...
Chase Company uses the perpetual inventory method. The inventory records for Chase reflected the following information: January 1 January 12 January 18 January 21 January 25 January 31 Beginning inventory Purchase Sales Purchase Purchase Sales 400 units @ $2.50 500 units @ $2.30 600 units @ $4.00 400 units @ $2.60 200 units @ $2.40 550 units @ $4.00 Assuming Chase uses a FIFO cost flow method, what is the cost of goods sold for the sales transaction on January...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: July...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: July 1 Inventory 88 units @ $33 8 Sale 70 units 15 Purchase 98 units @ $35 27 Sale 82 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on July 27 and (b) the inventory on July 31. a. Cost of goods sold on July 27 $ b. Inventory on July 31 $
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: July...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: July 1 Inventory 82 units $21 8 Sale 66 units 15 Purchase 91 units @ $23 27 Sale 76 units Assuming a perpetual inventory system and using the last-In, first-out (LIFO) method, determine (a) the cost of goods sold on July 27 and (b) the inventory on July 31. a. Cost of goods sold on July 27 b. Inventory on July 31
perpetual inventory using LIFO
Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on July 21 and (b) the inventory on July 31. a. Cost of merchandise sold on July 21 b. Inventory on July 31 * Show Me How Calculator Printiem Perpetual Inventory Using UFO Beginning inventory, purchases, and sales for Item C283 are as follows July 1 Inventory 106 units $21 5 Sale 85 units 11 Purchase 118...
(d) Inventory Calculations Keaton Accessories uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Quantity Total Cost Unit Cost Beginning Inventory (Jan. 1) $11,200 160 $70 Purchase (Jan. 9) 80 75 6,000 6,080 Purchase (Jan. 21) 80 76 $23,280 320 Total On January 24, Keaton sold 180 units of this product. The other 140 units remain in inventory at January 31. goods sold using each...
eBook Show Me HowB Calculator Print ltem FIFO and LIFO Costs Under Perpetual Inventory System The following units of a particular item were available for sale during the year: Beginning inventory Sale First purchase Sale Second purchase Sale The firm uses the perpetual inventory system, and there are 5 a. What is the total cost of the ending inventory according to FIFO? 3,600 units at $4.00 2,400 units at $8.00 8,000 units at $4.20 6,000 units at $8.00 7,500 units...
Required information SB Beech Soda, Inc. uses a perpetual inventory... Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Quantity Unit Cost Total 3 Cost $ 300 336 Beginning inventory (Jan. 1) Purchase (Jan. 11) Purchase (Jan. 20) Total $1.257 On January 14, Beech Soda, Inc. sold 29 units of this product. The other 34 units remained in inventory at January 31....
[The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Units Acquired at Cost 240 units e$53.80 per unit 295 units e $58.80 per unit. 400 units e $88.80 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 155 units & $63.80 per unit...
Chase Company uses the perpetual inventory method. The inventory records for Chase reflected the following information: January 1 January 12 January 18 January 21 January 25 January 31 Beginning inventory Purchase Sales Purchase Purchase Sales 400 units @ $2.50 500 units @ $2.30 600 units @ $4.00 400 units @ $2.60 200 units @ $2.40 550 units @ $4.00 Assuming Chase uses a FIFO cost flow method, what is the cost of goods sold for the sales transaction on January...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: July 1 Inventory 82 units $21 8 Sale 66 units 15 Purchase 91 units @ $23 27 Sale 76 units Assuming a perpetual inventory system and using the last-In, first-out (LIFO) method, determine (a) the cost of goods sold on July 27 and (b) the inventory on July 31. a. Cost of goods sold on July 27 b. Inventory on July 31
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