Homework Answers
Answer - (c) $2498
Explanation
Total units sold = 1380
As per periodic FIFO method firstly 1000 bottles will out @$1.70 which means $1700 and then balance 380 bottles will be out from 600 bottles and which cost at 380 * $2.10 = $798 and the total cost would be $1700 + $798 = $2498
Add Answer to:
(3) Pale Ale lin began accounting period w/ 1000 bottles in Inventory at a cost of...
The Rama company began the accounting period' wl 5000 units in inventory at a cost of...
The Rama company began the accounting period' wl 5000 units in inventory at a cost of $23 each. During the period the company purshaced an additional 16,000 units at $16 each & sold 12, 200 Unts. The company uses periodic inventory procedure. cost of ending inventony using FIFO IS A) 140,000 BJ 230, 200 C 195, 200 D) 175,800 .
The accounting records of Old Towne Electronics show the following data. Beginning inventory 3,110 units...
The accounting records of Old Towne Electronics show the
following data.
Beginning inventory
3,110
units at
$5
Purchases
7,800
units at
$8
Sales
9,060
units at
$10
Determine cost of goods sold during the period under a periodic
inventory system using the FIFO method. (Round answer
to 0 decimal places, e.g. 1,250.)
FIFO
Cost of goods sold during the period
$
Determine cost of goods sold during the period under a periodic
inventory system using the LIFO method. (Round answer...
The accounting records of Teal Mountain Electronics show the following data. Beginning inventory 2,000 units at...
The accounting records of Teal Mountain Electronics show the following data. Beginning inventory 2,000 units at $6 Purchases 8,000 units at $7 Sales 9,000 units at $10 Determine cost of goods sold during the period under a periodic inventory system using the FIFO method. (Round answer to 0 decimal places, e.g. 1,250.) FIFO Cost of goods sold during the period Question Part Score Determine cost of goods sold during the period under a periodic inventory system using the LIFO method....
Emily Company uses a periodic inventory system. At the end of the annual accounting period, December...
Emily Company uses a periodic inventory system. At the end of the
annual accounting period, December 31 of the current year, the
accounting records provided the following information for product
2:
Required information [The following information applies to the questions displayed below.] Emily Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2: Units 2,830 Unit Cost $13 Inventory, December...
Causwell Company began 2018 with 17,000 units of inventory on hand. The cost of each unit...
Causwell Company began 2018 with 17,000 units of inventory on hand. The cost of each unit was $5.00. During 2018 an additional 35,000 units were purchased at a single unit cost, and 27,000 units remained on hand at the end of 2018 (25,000 units therefore were sold during 2018). Causwell uses a periodic inventory system. Cost of goods sold for 2018, applying the average cost method, is $142,500. The company is interested in determining what cost of goods sold would...
Causwell Company began 2021 with 17,000 units of inventory on hand. The cost of each unit...
Causwell Company began 2021 with 17,000 units of inventory on hand. The cost of each unit was $5.00. During 2021 an additional 35,000 units were purchased at a single unit cost, and 27,000 units remained on hand at the end of 2021 (25,000 units therefore were sold during 2021). Causwell uses a periodic inventory system. Cost of goods sold for 2021, applying the average cost method, is $142,500. The company is interested in determining what cost of goods sold would...
Causwell Company began 2021 with 26,000 units of inventory on hand. The cost of each unit...
Causwell Company began 2021 with 26,000 units of inventory on hand. The cost of each unit was $5.00. During 2021 an additional 46,000 units were purchased at a single unit cost, and 36,000 units remained on hand at the end of 2021 (36,000 units therefore were sold during 2021). Causwell uses a periodic inventory system. Cost of goods sold for 2021, applying the average cost method, is $221,400. The company is interested in determining what cost of goods sold would...
Only part (b) The accounting records of Marin Electronics show the following data. Beginning inventory 3,500...
Only part (b)
The accounting records of Marin Electronics show the following data. Beginning inventory 3,500 units at $4 Purchases 9,000 units at $6 Sales 9,700 units at $10 (a) Your answer is correct. Determine cost of goods sold during the period under a periodic inventory system using the FIFO method. (Round answer to o decimal places, e.g. 1,250.) FIFO Cost of goods sold during the period 51200 (b) Determine cost of goods sold during the period under a periodic...
The accounting records of Marin Electronics show the following data. Beginning inventory 3,500 units at $4...
The accounting records of Marin Electronics show the following data. Beginning inventory 3,500 units at $4 Purchases 9,000 units at $6 Sales 9,700 units at $10 (a) Determine cost of goods sold during the period under a periodic inventory system using the FIFO method. (Round answer to 0 decimal places, e.g. 1,250.) FIFO Cost of goods sold during the period
Nittany Company uses a periodic Inventory system. At the end of the annual accounting period, December...
Nittany Company uses a periodic Inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following Information for product 1: Units Unit Cost 2, eee $5 Inventory, December 31, prior year For the current year: Purchase, March 21 Purchase, August 1 Inventory, December 31, current year 5,000 3. eee 4.999 Required: Compute ending Inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost...
The Rama company began the accounting period' wl 5000 units in inventory at a cost of $23 each. During the period the company purshaced an additional 16,000 units at $16 each & sold 12, 200 Unts. The company uses periodic inventory procedure. cost of ending inventony using FIFO IS A) 140,000 BJ 230, 200 C 195, 200 D) 175,800 .
The accounting records of Old Towne Electronics show the
following data.
Beginning inventory
3,110
units at
$5
Purchases
7,800
units at
$8
Sales
9,060
units at
$10
Determine cost of goods sold during the period under a periodic
inventory system using the FIFO method. (Round answer
to 0 decimal places, e.g. 1,250.)
FIFO
Cost of goods sold during the period
$
Determine cost of goods sold during the period under a periodic
inventory system using the LIFO method. (Round answer...
The accounting records of Teal Mountain Electronics show the following data. Beginning inventory 2,000 units at $6 Purchases 8,000 units at $7 Sales 9,000 units at $10 Determine cost of goods sold during the period under a periodic inventory system using the FIFO method. (Round answer to 0 decimal places, e.g. 1,250.) FIFO Cost of goods sold during the period Question Part Score Determine cost of goods sold during the period under a periodic inventory system using the LIFO method....
Emily Company uses a periodic inventory system. At the end of the
annual accounting period, December 31 of the current year, the
accounting records provided the following information for product
2:
Required information [The following information applies to the questions displayed below.] Emily Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2: Units 2,830 Unit Cost $13 Inventory, December...
Only part (b)
The accounting records of Marin Electronics show the following data. Beginning inventory 3,500 units at $4 Purchases 9,000 units at $6 Sales 9,700 units at $10 (a) Your answer is correct. Determine cost of goods sold during the period under a periodic inventory system using the FIFO method. (Round answer to o decimal places, e.g. 1,250.) FIFO Cost of goods sold during the period 51200 (b) Determine cost of goods sold during the period under a periodic...
The accounting records of Marin Electronics show the following data. Beginning inventory 3,500 units at $4 Purchases 9,000 units at $6 Sales 9,700 units at $10 (a) Determine cost of goods sold during the period under a periodic inventory system using the FIFO method. (Round answer to 0 decimal places, e.g. 1,250.) FIFO Cost of goods sold during the period
Nittany Company uses a periodic Inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following Information for product 1: Units Unit Cost 2, eee $5 Inventory, December 31, prior year For the current year: Purchase, March 21 Purchase, August 1 Inventory, December 31, current year 5,000 3. eee 4.999 Required: Compute ending Inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost...
Most questions answered within 3 hours.
-
Kylie is a single mom with two dependent children,
Tanner, age 7 and Olivia, age 11....
asked 14 minutes ago -
Phosphorous + bromine = phosphorous tribromide. If 35.0 g of
bromine are reacted and 27.9 grams...
asked 1 hour ago -
Derive the long wavelength limit of the Planck energy density
distribution
asked 1 hour ago -
Calculate the pH of each of the following solutions.
0.50 M HBr
3.1×10−4 M KOH
4.2×10−5...
asked 5 hours ago -
For the year ended December 31, Depot Max’s cost of merchandise
sold was $85,600. Inventory at the...
asked 5 hours ago -
Week 10 - Professional Memo Assignment
Professional Memo Assignment
Your mission for this week, should you...
asked 5 hours ago -
Write a Python program that stores the data for each
player on the team, and it...
asked 5 hours ago -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 5 hours ago -
Is Ca(OH)2 a Bronsted base, Lewis base, or both? Why?
asked 5 hours ago -
1A- Why don’t voters complain about U.S. tariffs on imported
sugar?
Because sugar is only a...
asked 5 hours ago -
Cash Payback Period
Primera Banco is evaluating two capital investment proposals for
a drive-up ATM kiosk,...
asked 5 hours ago -
Create a button in Swift (Xcode) that will create a charge,
create a charge using Stripe's...
asked 5 hours ago