Homework Answers
Only incorrect answers are attempted and solved.
Answer 1:
Value of ending inventory at the end of September using FIFO periodic:
Ending inventory in units = 545
Answer 2:
Value of ending inventory at the end of September using LIFO periodic:
Answer 3:
Value of ending inventory at the end of September using FIFO perpetual:
Kindly note FIFO perpetual ending inventory will remain same as FIFO periodic inventory.
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what did I do wrong? please explain ACC 113 Project 10 During the month of September...
please I need help for my project ACC 112 Project 1B The below represents the comparative...
please I need help for my project
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Help I S 8 Purchased 435 units @ $170 per unit. 12 Sold 250 units. 17...
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ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation...
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ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation...
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ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation...
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ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 14,000 12,000 Income tax expense 35,000 23,000 Total expenses $1,083,000 $959,000 Net income $155,000 $47,000 $959 2015 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 Assets 2016...
I got the FIFO correct, but keep getting the wrong numbers for LIFO and Average-Cost. Rounding...
I got the FIFO correct, but keep getting the wrong numbers for
LIFO and Average-Cost. Rounding errors? Idk, please help.
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Bridgeport Corp. reports the following for the month of June. Explanation Units Unit Cost Total Cost...
Bridgeport Corp. reports the following for the month of June. Explanation Units Unit Cost Total Cost June 1 Inventory 12 Purchases 2,310 23 Purchases 1,358 30 Inventory 240 $ 580 Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (For calculation purposes, round to 3 decimal places, e.g. 5.275. Round answers to decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory The cost of goods sold Click...
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The following information is taken from the inventory records of the CNB Company for the month of September: Begi...
The following information is taken from the inventory records of the CNB Company for the month of September: Beginning inventory, 9/1/2018 Purchases: 8,000 units e $10.00 6,000 units $10.70 9,000 units $12.60 9/7 9/25 Sales 8,000 units 9,000 units 9/10 9/29 6,000 units were on bhand at the end of September. Required: 1. Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory. 2. Repeat...
please I need help for my project
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,178,000 $1,034,000 Expenses: Cost of goods sold $808,000 $710,000 Selling and administrative 209,000 225,000 Interest expense 12,000 14,000 Income tax expense 33,400 23,000 Total expenses $1,062,400 $972,000 Net income $115,600 $62,000 2015 $37,000 28,600 149,400 138,800 353,800 782,000...
Help I S 8 Purchased 435 units @ $170 per unit. 12 Sold 250 units. 17 Sold 130 units. 25 Purchased 190 units 30 Sold 110 units. $200 per unit. final I answers, you must enter your answers with commas.) 20,900 190 Sept. 25 Purchases Total Units Sold L answers in a new window to help you complete the next section e these steps each time you have finished a section. Do not click on the "Submit Answers" button until...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 14,000 12,000 Income tax expense 35,000 23,000 Total expenses $1,083,000 $959,000 Net income $155,000 $47,000 || 2015 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 Assets 2016...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31,2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 14,000 12,000 Income tax expense 35,000 23,000 Total expenses $1,083,000 $959,000 Net income $155,000 $47,000 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 Assets 2016 2015 Current assets:...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 12,000 14,000 Income tax expense 35,000 23,000 Total expenses $959,000 $1,083,000 $47,000 $155,000 Net income Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 2015 2016 Assets Current...
ACC 112 Project 1B The below represents the comparative financial statements of Kamla Corporation. Kamla Corporation Comparative Income Statement For the Years Ended December 31, 2016 and 2015 2016 2015 Net sales (all on account) $1,238,000 $1,006,000 Expenses: Cost of goods sold $826,000 $706,000 Selling and administrative 208,000 218,000 Interest expense 14,000 12,000 Income tax expense 35,000 23,000 Total expenses $1,083,000 $959,000 Net income $155,000 $47,000 $959 2015 Kamla Corporation Comparative Balance Sheet December 31, 2016 and 2015 Assets 2016...
I got the FIFO correct, but keep getting the wrong numbers for
LIFO and Average-Cost. Rounding errors? Idk, please help.
Blossom Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Blossom Company's purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory $115 $1,495 Sept. 12 Purchases 118 5,310 Sept. 19 Purchases 5,831 Sept. 26 Purchases 3,000 Totals...
Bridgeport Corp. reports the following for the month of June. Explanation Units Unit Cost Total Cost June 1 Inventory 12 Purchases 2,310 23 Purchases 1,358 30 Inventory 240 $ 580 Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (For calculation purposes, round to 3 decimal places, e.g. 5.275. Round answers to decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory The cost of goods sold Click...
Kingbird, Inc. had a beginning inventory on January 1 of 330 units of Product 4-18-15 at a cost of $22 per unit. During the year, the following purchases were made. Mar. 15 880 units at $25 Sept. 4 770 units at $28 July 20 550 units at $26 Dec. 2 220 units at $31 2,200 units were sold. Kingbird, Inc. uses a periodic inventory system. ▼ (a) Your answer is correct. Determine the cost of goods available for sale. The...
The following information is taken from the inventory records of the CNB Company for the month of September: Beginning inventory, 9/1/2018 Purchases: 8,000 units e $10.00 6,000 units $10.70 9,000 units $12.60 9/7 9/25 Sales 8,000 units 9,000 units 9/10 9/29 6,000 units were on bhand at the end of September. Required: 1. Assuming that CNB uses a periodic inventory system and employs the average cost method, determine cost of goods sold for September and September's ending inventory. 2. Repeat...
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