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R A G A just starting in business purchased three merchandise inventory items at the followina rices First marchas...
store supplies inventory Question 2 2 pts A company just starting in business purchased three merchandise...
store supplies inventory Question 2 2 pts A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $65; Second purchase $78; Third purchase $68. If the company sold two units for a total of $200 and used FIFO costing, the gross profit for the period would be $55 $57 O O $62 O $68 Question 3 2 pts At May 1, 2016, Bibby Company had beginning
9) A company just starting business made the following four inventory purchases in June: June 1...
9) A company just starting business made the following four inventory purchases in June: June 1 June 10 June 15 June 28 150 units 200 units 200 units 150 units $ 390 585 630 510 $2,115 A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is a. $683. b. $755. C. $825. d. $1,360.
A Company just starting a business made the following four inventory purchases in June: June 1...
A Company just starting a business made the following four inventory purchases in June: June 1 120 Units Purchased Cost $390, June 10 230 Units Purchased Cost $575, June 15 230 Units Purchased Cost $620, June 28 120 Units Purchased Cost $520, A physical count of merchandise inventory on June 30 reveals that there are 260 units on hand. The inventory method which results in the highest gross profit for June is : - the lifo method - the weighted...
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 $390 June 10 200 units $598 June 15 200 units $630 June 28 150 units $510 Total $ 2,128 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is? Using the FIFO inventory method, the value of the ending inventory...
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
Setion questions point cach total of 20 points pny just starting business made the following four...
Setion questions point cach total of 20 points pny just starting business made the following four inventory purchases in June Per Unit Cost Total Costs 150 units $ 390 200 units 598 June 15 630 June 28 150 units 510 $2.128 June June 10 200 units • Calculate per unit cost. A physical count of merchandise inventory Lun 30 reveals that there are 200 units on hand. Using the LIFO inventory method. calculate the value of the ending inventory on...
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.
A company just starting business made the following four inventory purchases in June cases in June:...
A company just starting business made the following four inventory purchases in June cases in June: $ 390 June June June June 1 10 15 28 150 units 200 units 200 units 150 units 598 630 510 $2.128 that there are 200 units on hand. The inventory A physical count of merchandise inventory method which results in the highest gross profit for June is the FIFO method b. the LIFO method. c. the weighted average unit cost method. d. not...
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 June 1 150...
A company just starting business made the following four inventory purchases in June June 1 150 units at $2.60 $ 390 June 10 200 units at $3.00 600 June 15 200 units at $3.20 640 June 28 150 units at $3.50 525 $2.155 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Instructions: Answer the following independent questions and show computations supporting your answers 1. Assume that the company uses the LIFO...
store supplies inventory Question 2 2 pts A company just starting in business purchased three merchandise inventory items at the following prices. First purchase $65; Second purchase $78; Third purchase $68. If the company sold two units for a total of $200 and used FIFO costing, the gross profit for the period would be $55 $57 O O $62 O $68 Question 3 2 pts At May 1, 2016, Bibby Company had beginning
9) A company just starting business made the following four inventory purchases in June: June 1 June 10 June 15 June 28 150 units 200 units 200 units 150 units $ 390 585 630 510 $2,115 A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is a. $683. b. $755. C. $825. d. $1,360.
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
Setion questions point cach total of 20 points pny just starting business made the following four inventory purchases in June Per Unit Cost Total Costs 150 units $ 390 200 units 598 June 15 630 June 28 150 units 510 $2.128 June June 10 200 units • Calculate per unit cost. A physical count of merchandise inventory Lun 30 reveals that there are 200 units on hand. Using the LIFO inventory method. calculate the value of the ending inventory on...
A company just starting business made the following four inventory purchases in June cases in June: $ 390 June June June June 1 10 15 28 150 units 200 units 200 units 150 units 598 630 510 $2.128 that there are 200 units on hand. The inventory A physical count of merchandise inventory method which results in the highest gross profit for June is the FIFO method b. the LIFO method. c. the weighted average unit cost method. d. not...
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 June 1 150 units at $2.60 $ 390 June 10 200 units at $3.00 600 June 15 200 units at $3.20 640 June 28 150 units at $3.50 525 $2.155 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Instructions: Answer the following independent questions and show computations supporting your answers 1. Assume that the company uses the LIFO...
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