Homework Answers
Answer : $ 27,000
Inventory Purchased During the Year = Cost of Goods Sold + Ending inventory - Beginning Inventory
= 25,000+19000-17000= 27,000 (Answer)
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Help Save & Exit Cortez Company updates its inventory records perpetually. The company's records showed a...
Cortez Company updates its inventory records perpetually. The company's records showed a beginning inventory of $19,000,...
Cortez Company updates its inventory records perpetually. The company's records showed a beginning inventory of $19,000, cost of goods sold of $27,000, and ending inventory of $21,000. How much inventory was purchased during the year? A) $25,000. B) $23,000. C) $15,500. D) $29,000.
Barron Industries has the following information: $690,000 78,000 580,000 Sales Revenue Ending inventory Cost of Goods...
Barron Industries has the following information: $690,000 78,000 580,000 Sales Revenue Ending inventory Cost of Goods Sold Beginning inventory 68,000 What is Barron's number of days to sell? (Round intermediate calculations to 2 decimal places. Assume 365 days a year.) Multiple Choice 49.1 days 45.9 days 41.3 days Cortez Company updates its inventory records perpetually. The company's records showed a beginning inventory of $19,000, cost of goods sold of $27,000, and ending inventory of $21,000. How much inventory was purchased...
Help Save & Exit Cortez Company sells chairs that are used at computer stations. Its beginning...
Help Save & Exit Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 50 units at $75 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 218 unit purchase at $85 per unit, the second was a 236-unit purchase at $90 per unit. During the period, it sold 340 chairs, Required Determine the amount of product costs that would be allocated to cost of goods...
Help Save & Exit Su Charter Company, which uses the perpetual inventory method, purchases different letters for...
Help Save & Exit Su Charter Company, which uses the perpetual inventory method, purchases different letters for resale. Character had a beginning inventory comprised of seven units at $6 per unit. The company purchased three units at $8 per unit in February, sold six units in October, and purchased four units at $9 per unit in December If Charter Company uses the LIFO method, what is the cost of goods sold for the vear? 005901 Multiple Choice eBook $42 $60...
Help Save & Exit Saved apter 26 The following data (in thousands of dollars) have been...
Help Save & Exit Saved apter 26 The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the just completed year Sales Raw materials inventory, beginning Raw materials inventory, ending Purchases of raw materials Direct labour Manufacturing overhead Administrative expenses Selling expenses Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending $990 $40 $70 $120 $200 $230 $150 $140 $70 $50 $120 $160...
Homework i Saved Help Save & Exit Check m The inventory records of Kuffel Co. reflected...
Homework i Saved Help Save & Exit Check m The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number Unit Total of Units Cost Cost 159 $32 $4,880 70 32 2,240 (100) 90 353,150 140 375, 180 (109) 36 1,800 (180) 50 Required: a. Assume that Kuffel Co. uses a periodic inventory system....
Help Save & Exit Submit A company had beginning inventory of 12 units at a cost...
Help Save & Exit Submit A company had beginning inventory of 12 units at a cost of $18 each on March 1. On March 2. it purchased 12 units at $30 each. On March 6 lt purchased 7 units at $23 each. On March 8, it sold 28 units for $66 each. Using the perpetual FIFO inventory method, what was the cost of the 28 units sold? Multiple Choice O $558 O $668 o $576 o $644 O $737 <...
Ch 14 Help Save & Exit Sub TB MC Qu. 14-132 A manufacturing company has... A...
Ch 14 Help Save & Exit Sub TB MC Qu. 14-132 A manufacturing company has... A manufacturing company has a beginning finished goods inventory of $29,000, cost of goods manufactured of $59,200, and an ending finished goods inventory of $28,300. The cost of goods sold for this company is: Multiple Choice ( $116,500 0 $58,500 O $1,900 0 O $87,500 $59,900. < Prev 4 of 10 !!! Next >
Help Save & Exit 7 Delta Diamonds uses a periodic inventory system. The company had five...
Help Save & Exit 7 Delta Diamonds uses a periodic inventory system. The company had five one-carat diamonds available for sale this year one was purchased on June 1 for $1,200, two were purchased on July 9 for $1,450 each, and two were purchased on September 23 for $1,550 each. On December 24, it soid one of the diamonds that was purchased on July 9. Using the FIFO method, its cost of goods sold for the year ended is: 00-5904...
Help Save & Exit Su A company reported the following: (8 00:59:19 Cost of Goods Sold...
Help Save & Exit Su A company reported the following: (8 00:59:19 Cost of Goods Sold General, Selling, and Administrative Expenses Income Tax Expense Inventory Net Income Sales Revenue Sales Discounts Sales Returns & Allowances $264, eee 13,000 7,800 27,500 82,400 375,290 4,900 2,900 eBook What is the amount of gross profit? Multiple Choice O $103.200 0 $95.000 0 0 $111.000 Por of New
Barron Industries has the following information: $690,000 78,000 580,000 Sales Revenue Ending inventory Cost of Goods Sold Beginning inventory 68,000 What is Barron's number of days to sell? (Round intermediate calculations to 2 decimal places. Assume 365 days a year.) Multiple Choice 49.1 days 45.9 days 41.3 days Cortez Company updates its inventory records perpetually. The company's records showed a beginning inventory of $19,000, cost of goods sold of $27,000, and ending inventory of $21,000. How much inventory was purchased...
Help Save & Exit Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 50 units at $75 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 218 unit purchase at $85 per unit, the second was a 236-unit purchase at $90 per unit. During the period, it sold 340 chairs, Required Determine the amount of product costs that would be allocated to cost of goods...
Help Save & Exit Su Charter Company, which uses the perpetual inventory method, purchases different letters for resale. Character had a beginning inventory comprised of seven units at $6 per unit. The company purchased three units at $8 per unit in February, sold six units in October, and purchased four units at $9 per unit in December If Charter Company uses the LIFO method, what is the cost of goods sold for the vear? 005901 Multiple Choice eBook $42 $60...
Help Save & Exit Saved apter 26 The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the just completed year Sales Raw materials inventory, beginning Raw materials inventory, ending Purchases of raw materials Direct labour Manufacturing overhead Administrative expenses Selling expenses Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending $990 $40 $70 $120 $200 $230 $150 $140 $70 $50 $120 $160...
Homework i Saved Help Save & Exit Check m The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019 Date 1/1 1/24 2/22 3/7 4/10 6/11 9/28 12/4 Transaction Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale Number Unit Total of Units Cost Cost 159 $32 $4,880 70 32 2,240 (100) 90 353,150 140 375, 180 (109) 36 1,800 (180) 50 Required: a. Assume that Kuffel Co. uses a periodic inventory system....
Help Save & Exit Submit A company had beginning inventory of 12 units at a cost of $18 each on March 1. On March 2. it purchased 12 units at $30 each. On March 6 lt purchased 7 units at $23 each. On March 8, it sold 28 units for $66 each. Using the perpetual FIFO inventory method, what was the cost of the 28 units sold? Multiple Choice O $558 O $668 o $576 o $644 O $737 <...
Ch 14 Help Save & Exit Sub TB MC Qu. 14-132 A manufacturing company has... A manufacturing company has a beginning finished goods inventory of $29,000, cost of goods manufactured of $59,200, and an ending finished goods inventory of $28,300. The cost of goods sold for this company is: Multiple Choice ( $116,500 0 $58,500 O $1,900 0 O $87,500 $59,900. < Prev 4 of 10 !!! Next >
Help Save & Exit 7 Delta Diamonds uses a periodic inventory system. The company had five one-carat diamonds available for sale this year one was purchased on June 1 for $1,200, two were purchased on July 9 for $1,450 each, and two were purchased on September 23 for $1,550 each. On December 24, it soid one of the diamonds that was purchased on July 9. Using the FIFO method, its cost of goods sold for the year ended is: 00-5904...
Help Save & Exit Su A company reported the following: (8 00:59:19 Cost of Goods Sold General, Selling, and Administrative Expenses Income Tax Expense Inventory Net Income Sales Revenue Sales Discounts Sales Returns & Allowances $264, eee 13,000 7,800 27,500 82,400 375,290 4,900 2,900 eBook What is the amount of gross profit? Multiple Choice O $103.200 0 $95.000 0 0 $111.000 Por of New
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