Homework Answers
1 D 200
2 B 700
Table
| FIFO | LIFO | Average cost | Specific ID | |
| Cost of goods available for sale | 35200 | 35200 | 35200 | 35200 |
| Cost of ending inventory | 11800 | 9200 | 10560 | 10600 |
| COGS | 23400 | 26000 | 24640 | 24600 |
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ACC122 EXAM 5 PAGE 2 OF 8 2. What is the total number of units sold...
Sales Units Unit Cost Unit Price Total Date May 1 Purchases Units 100 200 Total $400...
Sales Units Unit Cost Unit Price Total Date May 1 Purchases Units 100 200 Total $400 1,000 100 $10 $1,000 15 100 ON 600 1,050 150 200 $2,200 160 710 1.280 $4,330 300 $3,200 If Santa Fe uses FIFO costing, how much was the Ending inventory balance? Santa Fe Tile Company had the following inventory purchases and sales during the month of May. The company use the periodic inventory method. Purchases Sales Date Units Unit Cost Total Units Unit Price...
ork Chapter #6 Help Save & Number of Units Cost Total Cont Date Transaction Jan. 1...
ork Chapter #6 Help Save & Number of Units Cost Total Cont Date Transaction Jan. 1 Beginning inventory Mar. 14 Purchase Jun. 9 Purchase Nov.11 Purchase 1,020 1.053 $4,103 For the entire year, the company sells 110 units of inventory for $39 each. 12:37 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost cost per Ending # of units Cost...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totalled 240 units. Unit Cost $ 8 Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units 120 380 200 Total Cost $ 960 3,420 2,200 11 Required: 1. Calculate the...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies...
Oahu Kiki tracks the number of units purchased and sold
throughout each accounting period but applies its inventory costing
method at the end of each month, as if it uses a periodic inventory
system. Assume Oahu Kiki's records show the following for the month
of January Sales totaled units
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a...
Pina Colada Limited uses a periodic inventory system. On June 24, the company sold 600 units....
Pina Colada Limited uses a periodic inventory system. On June 24, the company sold 600 units. The following additional information is available: Units Unit Cost Total Cost June 1 inventory 200 $12 $2,400 June 15 purchase 400 15 6,000 June 23 purchase 400 16 6,400 1,000 $14,800 Correct answer iconYour answer is correct. Calculate the June 30 inventory and the June cost of goods sold, using the weighted average cost formula. (Round weighted average cost per unit to 2 decimal...
Mojo Industries tracks the number of units purchased and sold throughout each ad method at the...
Mojo Industries tracks the number of units purchased and sold throughout each ad method at the end of each period, as if it uses a periodic Inventory system. Assum Information at the end of the accounting period, January 31. The inventory's selling Unit Cost $3.00 Total cost $ 600 points TEAations Invory, January 1 Sale, January 10 Purchase, January 12 Sale, January 17 Purchase, January 26 Units 200 (150) 250 (100) 50 3.50 875 8 014300 4.50 225 Assume that...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 320 units. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units Unit Cost Total Cost 180 $ 70 $12,600 490 8 0 3 9,200 280 100 28,000 Required: 1....
Use the following data of Dolphin Sales, Inc.: Unit Total Units Units Cost Cost Sold Beginning...
Use the following data of Dolphin Sales, Inc.: Unit Total Units Units Cost Cost Sold Beginning inventory 14 $6 $84 Purchase on Apr 25 33 8 264 Purchase on Nov 16 14 10 140 Sales 45 ? ? Dolphin Sales cost of ending inventory using the average cost method is A. $156. B. $100. C. $128. D. $450.
the number that is covered is $12.50 Part 2: During 2018, Kaplan Co. sold 19,000 units...
the number that is covered is
$12.50
Part 2: During 2018, Kaplan Co. sold 19,000 units of its product. The following units were on hand or purchased during the year UnitsCost per Total Cost $137,500 $178,100 $296,000 10,000 $15.35 $153,500 $765,100 Beginning inventory (1/1/2018) Purchase #1: (3/2/18) Purchase #2: (7/15/18) Purchase #3: (11/31/18) 11,000 13,000 20,000 $13.70 $14.80 Total Available for Sale 54,000 Less Sold Ending Inventory Required: In the table above, fill in the number of units sold and...
[The following information applies to the questions displayed below.] 10 During the year, a company has...
[The following information applies to the questions displayed below.] 10 During the year, a company has the following inventory transactions. Number Unit Date Transaction of Units Cost Total Cost Jan. 1 Beginning inventory $ 12 $ 120 Mar. 4 Purchase 15 11 165 Jun. 9 Purchase 20 200 Nov.11 Purchase 160 $ 645 10 : 65 For the entire year, the company sells 50 units of inventory for $20 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods...
Sales Units Unit Cost Unit Price Total Date May 1 Purchases Units 100 200 Total $400 1,000 100 $10 $1,000 15 100 ON 600 1,050 150 200 $2,200 160 710 1.280 $4,330 300 $3,200 If Santa Fe uses FIFO costing, how much was the Ending inventory balance? Santa Fe Tile Company had the following inventory purchases and sales during the month of May. The company use the periodic inventory method. Purchases Sales Date Units Unit Cost Total Units Unit Price...
ork Chapter #6 Help Save & Number of Units Cost Total Cont Date Transaction Jan. 1 Beginning inventory Mar. 14 Purchase Jun. 9 Purchase Nov.11 Purchase 1,020 1.053 $4,103 For the entire year, the company sells 110 units of inventory for $39 each. 12:37 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost cost per Ending # of units Cost...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totalled 240 units. Unit Cost $ 8 Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units 120 380 200 Total Cost $ 960 3,420 2,200 11 Required: 1. Calculate the...
Oahu Kiki tracks the number of units purchased and sold
throughout each accounting period but applies its inventory costing
method at the end of each month, as if it uses a periodic inventory
system. Assume Oahu Kiki's records show the following for the month
of January Sales totaled units
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a...
Mojo Industries tracks the number of units purchased and sold throughout each ad method at the end of each period, as if it uses a periodic Inventory system. Assum Information at the end of the accounting period, January 31. The inventory's selling Unit Cost $3.00 Total cost $ 600 points TEAations Invory, January 1 Sale, January 10 Purchase, January 12 Sale, January 17 Purchase, January 26 Units 200 (150) 250 (100) 50 3.50 875 8 014300 4.50 225 Assume that...
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki's records show the following for the month of January. Sales totaled 320 units. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units Unit Cost Total Cost 180 $ 70 $12,600 490 8 0 3 9,200 280 100 28,000 Required: 1....
the number that is covered is
$12.50
Part 2: During 2018, Kaplan Co. sold 19,000 units of its product. The following units were on hand or purchased during the year UnitsCost per Total Cost $137,500 $178,100 $296,000 10,000 $15.35 $153,500 $765,100 Beginning inventory (1/1/2018) Purchase #1: (3/2/18) Purchase #2: (7/15/18) Purchase #3: (11/31/18) 11,000 13,000 20,000 $13.70 $14.80 Total Available for Sale 54,000 Less Sold Ending Inventory Required: In the table above, fill in the number of units sold and...
[The following information applies to the questions displayed below.] 10 During the year, a company has the following inventory transactions. Number Unit Date Transaction of Units Cost Total Cost Jan. 1 Beginning inventory $ 12 $ 120 Mar. 4 Purchase 15 11 165 Jun. 9 Purchase 20 200 Nov.11 Purchase 160 $ 645 10 : 65 For the entire year, the company sells 50 units of inventory for $20 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods...
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