Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: January 1 Invento...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: January 1 Inventory 96 units @ $32 5 Sale 77 units 11 Purchase 107 units @ $36 21 Sale 90 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on January 21 and (b) the inventory on January 31. a. Cost of merchandise sold on January 21 $ b. Inventory on January 31 $
Homework Answers
| Unit | Unit Cost | Total Cost | |
| Jan 1 | 96 | 32 | 3072 |
| Jan 5 | 77 | ||
| Jan 11 | 107 | 36 | 3852 |
| Jan 21 | 90 | ||
a) Cost of merchandise sold on January 21 = 90*36 = 3240
b) Ending inventory = (17*36+19*32) = 1220
Add Answer to:
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: January 1 Invento...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: October...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: October 1 Inventory 80 units @ $31 5 Sale 64 units 11 Purchase 89 units @ $33 21 Sale 75 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on October 21 and (b) the inventory on October 31. a. Cost of merchandise sold on October 21 b. Inventory on October 31
Perpetual Inventory Using LIPO Beginning inventory, purchases, and sales for Item PK95 are as follows: January...
Perpetual Inventory Using LIPO Beginning inventory, purchases, and sales for Item PK95 are as follows: January 1 106 units @ $23 85 units Inventory Sale Purchase Sale 118 units @ $27 11 21 99 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) a. Cost of merchandise sold on January 21 b. Inventory on January 31
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are January 1 Inventory...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are January 1 Inventory 39 units @ $24 Sale 30 units 13 Purchase 41 units @ $28 28 Sale 16 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on January 28 and (b) the inventory on January 31. a. Cost of merchandise sold on January 28 EN b. Inventory on 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 $
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item C283 are as follows: March...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item C283 are as follows: March 1 Inventory 98 units $17 5 Sale 78 units 11 Purchase 109 units $21 21 Sale 92 units Assuming a perpetual inventory system and using the last in, first-out (LIFO) method, determine (a) the cost of merchandise sold on March 21 and (b) the inventory on March 31. a. Cost of merchandise sold on March 21 b. Inventory on March 31
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: October...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item ER27 are as follows: October 1 Inventory 86 units @ $35 5 Sale 69 units 11 Purchase 95 units @ $39 21 Sale 80 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on October 21 and (b) the inventory on October 31. a. Cost of merchandise sold on October 21 $ b. Inventory on October 31 $
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: July...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: July 1 Inventory 55 units @ $23 9 Sale 43 units 13 Purchase 49 units @ $26 28 Sale 17 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on July 28 and (b) the inventory on July 31. a. Cost of merchandise sold on July 28 $ b. Inventory on July 31 $
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item E R27 are as follows:...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item E R27 are as follows: October 1 Inventory86 units @ $35 5 Sale 11 Purchase 21 Sale 69 units 95 units@ $39 80 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on October 21 and (b) the inventory on October 31. a. Cost of merchandise sold on October 21 b. Inventory on October 31 Feedbadk
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: October...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: October 1 Inventory 94 units $27 5 Sale 75 units 11 Purchase 104 units $30 21 Sale 87 units Assuming a perpetual inventory system and using the last-in, first-out (LIF0) method, determine (a) the cost of merchandise sold on October 21 and (b) the inventory on October 31 a. Cost of merchandise sold on October 21 b. Inventory on October 31
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: August...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: August 1 Inventory 76 units @ $23 9 Sale 62 units 13 Purchase 87 units @ $26 28 Sale 20 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on August 28 and (b) the inventory on August 31. a. Cost of merchandise sold on August 28 $ b. Inventory on August 31 $...
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item PK95 are as follows: October 1 Inventory 80 units @ $31 5 Sale 64 units 11 Purchase 89 units @ $33 21 Sale 75 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on October 21 and (b) the inventory on October 31. a. Cost of merchandise sold on October 21 b. Inventory on October 31
Perpetual Inventory Using LIPO Beginning inventory, purchases, and sales for Item PK95 are as follows: January 1 106 units @ $23 85 units Inventory Sale Purchase Sale 118 units @ $27 11 21 99 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) a. Cost of merchandise sold on January 21 b. Inventory on January 31
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales for Item PK95 are January 1 Inventory 39 units @ $24 Sale 30 units 13 Purchase 41 units @ $28 28 Sale 16 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on January 28 and (b) the inventory on January 31. a. Cost of merchandise sold on January 28 EN b. Inventory on January 31
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item C283 are as follows: March 1 Inventory 98 units $17 5 Sale 78 units 11 Purchase 109 units $21 21 Sale 92 units Assuming a perpetual inventory system and using the last in, first-out (LIFO) method, determine (a) the cost of merchandise sold on March 21 and (b) the inventory on March 31. a. Cost of merchandise sold on March 21 b. Inventory on March 31
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item E R27 are as follows: October 1 Inventory86 units @ $35 5 Sale 11 Purchase 21 Sale 69 units 95 units@ $39 80 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on October 21 and (b) the inventory on October 31. a. Cost of merchandise sold on October 21 b. Inventory on October 31 Feedbadk
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item HM46 are as follows: October 1 Inventory 94 units $27 5 Sale 75 units 11 Purchase 104 units $30 21 Sale 87 units Assuming a perpetual inventory system and using the last-in, first-out (LIF0) method, determine (a) the cost of merchandise sold on October 21 and (b) the inventory on October 31 a. Cost of merchandise sold on October 21 b. Inventory on October 31
Most questions answered within 3 hours.
-
A distribution center for a sporting goods retailer places
orders with manufacturers for a variety of...
asked 13 minutes ago -
Suppose you have a bag of Skittles with 27 blue Skittles, 18
green
Skittles, 32 red...
asked 16 minutes ago -
Sketch the circuit diagram for an inverting amplifier, and give
component values that will produce a...
asked 19 minutes ago -
Develop in C language the function whose prototype is described
below. Please, send the entire code,...
asked 37 minutes ago -
What single payment today would replace a payment stream of
$50,000 that will be paid today,...
asked 30 minutes ago -
please c++ with functions *Modify the Guessing Game Write the
secret number to a file. Then...
asked 31 minutes ago -
Question about ACID/BASE. Equal volumes of 0.230 M weak base (Kb
= 4.0× 10–9) and 0.230...
asked 36 minutes ago -
The charges and coordinates of two charged particles held fixed
in an xy plane are q1...
asked 38 minutes ago -
A particle of mass M = 7.5 kg is at a position r = (-3 i...
asked 38 minutes ago -
Please answer the question below with complete explanation and a
light rays drawing of the concave...
asked 41 minutes ago -
On January 4th, Stevens Manufacturing received an
order for 30 uniforms. The following information pertained to...
asked 50 minutes ago -
what is the present value of a 3 year growing annuity with the
first payment of...
asked 57 minutes ago