I just want to know how to solve it Questions 6, 7, and 8 are based...
from the first image answer the questions. This needs to be turned in tommorrow so I would really appreciate if its done by today. thanks Before you begin, print out all the pages in this workbook. Northgate Products Corp. sells gadgets and uses the perpetual inventory system. During the month of January 2019, the number of gadgets purchased and sold was as follows: Balance in inventory Purchased Sold Total $ $2 Date Unit cost Units Total $ Unit cost Total...
i need a detail explanation of how to solve this problem because i dont understand it. thank you Current Attempt in Progress Inventory information for Part 311 of Vaughn Corp. discloses the following information for the month of June. June 1 11 Balance Purchased 297 units @ $14 803 units @ $17 505 units @ $19 June 10 15 27 Sold Sold Sold 204 units @ $35 497 units @ $36 296 units @ $39 20 Purchased Assuming that the...
flow methods : FIFO, LIFO, Average Cost CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 6-7 Lisa Company had 256 units in beginning inventory at a total cost of $26,112. The company purchased 512 units at a total cost of $66,560. At the end of the year, Lisa had 205 units in ending inventory. (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers...
Inventory Costing Methods Morrison Inc. reported the following information for the month of August: Inventory, August 1 61 units @ $26 Purchase: August 7 56 units @ $27 August 18 65 units @ $29 August 27 43 units @ $30 During August, Morrison sold 143 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods sold for August under the following assumptions. Assumption Cost of Goods Sold Ending Inventory 1....
4.Inventory Costing Methods Morrison Inc. reported the following information for the month of May: Inventory, May 1 57 units @ $26 Purchase: May 7 46 units @ $28 May 18 71 units @ $30 May 27 38 units @ $32 During May, Morrison sold 137 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods sold for May under the following assumptions. Assumption Cost of Goods Sold Ending Inventory 1....
To the expert: I don't know what you mean by "more requirements, cut it" The requirements are A, B C and D 4. Inventory transactions for Hal Easton Stores are summarized in the table below. The company uses the LIFO perpetual method for both financial and tax reporting. (Click the icon to view the inventory transactions.) The inventory footnote from Hal Easton Stores' annual report indicates that the difference between the LIFO costs and the current (FIFO) costs of inventory...
I need the four blank boxes answered with the solutions on how to do them Inventory Costing Methods Morrison Inc. reported the following information for the month of October: Inventory, October 1 67 units @ $22 Purchase: October 7 55 units @ $24 October 18 58 units @ $25 October 27 45 units @ $27 During October, Morrison sold 144 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods...
To the expert: I don't know what you mean by "more requirements, cut it" The requirements are A, B C and D 4. Inventory transactions for Hal Easton Stores are summarized in the table below. The company uses the LIFO perpetual method for both financial and tax reporting. (Click the icon to view the inventory transactions.) The inventory footnote from Hal Easton Stores' annual report indicates that the difference between the LIFO costs and the current (FIFO) costs of inventory...
Exercise 8-10 Inventory information for Part 311 of Sandhill Corp, discloses the following information for the month of June. June 1 Balance 304 units $13 June 10 Sold 205 units $30 11 Purchased 804 units $15 15 Sold 504 units @ $32 20 Purchased 498 units @ $16 27 Sold 295 units $34 Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (2) (1) LIFO FIFO...
Exercise 8-13 (Algo) Inventory cost flow methods; periodic system (LO8-1, 8-4) Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Aug.1 Inventory on hand-2,900 units; cost $6.20 each. 8 Purchased 14,500 units for $6.40 each. 14 Sold 11,600 units for $12.90 each. 18 Purchased 8,700 units for $6.50 each. 25 Sold 10.600 units for $11.90 each. 28 Purchased 4,900 units for $5.80 each. 31 Inventory on hand-8, 800 units. Required: Using calculations...