your Question 30 (Mandatory) (3 points)Table for the remainder of the problems on this exam is to be downloaded,Problem: The ending inventory consists of 20,000 units, 3000 of the endinginventory units are from the beginning inventory, 10,000 are from the April purchaseand 7,000 are from the June purchase. The cost of the ending inventory using thespecific inventory method isA) 15.900B) 11,300OC)C) 13,100OD) 13.930

Step 1: Identify the Specific Identification MethodThe problem specifies using the specific…

Answered: Question 30 (Mandatory) (3 points)…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter20: Accounting For Inventory

Section20.2: Determining The Cost Of Merchandise Inventory

Problem 1WT

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Use the following data to calculate the cost of ending inventory using the II f o method. September 1st beginning inventory 15 units at $20 Each. September 10th purchase 20 units at $25 each. September 20th Purchase 25 units at $28 each. September 30th ending inventory 30 units. which is the best Answer? A. $825 b. $750 C. $675 D $600.
Use data below to calculate the cost of ending inventory using the LIFO periodic inventory system method.January 1 Beginning Inventory 20 units at $20 eachJanuary 10 Purchase 24 units at $25 eachJanuary 31 Purchase 25 units at $28 eachOn January 31, ending Inventory consisted of 32 units. a. $750 b. $680 c. $700 d. $600
If the begning inventory is 0 and purchases during the period are as follows: Date of purchase Units Unit Cost 1st April 120 2 7th April 80 2 12 - Aug 50 3 9th Sept 100 5 3rd Nov 150 6 2nd Feb 120 5 31st March Ending Inventory 220 What will be the COGS for the period using FIFO method Question 1Answer a. 1250 b . 1150 c. 1350 d. 1450 which is write ans plz explai step by step
Solve the problem using the information given in the table and the first- in, first-out inventory method. Round to the nearest dollar. 45 units are in the ending inventory.Beginning inventory: 35 units at $6.14June 3: 45 units at $6.62August 5: 30 writs at $7.08 Determine the cost of ending inventory Answer: ($312)
Name: MBAA 501-Exam #1 - Chapters 1, 6 & 7 Class: Beginning inventory to 1800 10 units at $60 2 First purchase 25 units at $65 Second purchase 30 units at $68 Third purchase 15 units at $75 Date: The firm uses the periodic system, and there are 25 units of the commodity on hand at the end of the year. 27. What is the amount of inventory at the end of the year using the LIFO method? a. $1,685 b. $1,575 c. $1,805 d. $3,815 necurate statement?
(Question EX 7-12 page 381 - Immediate Accounting I 16E Textbook) Periodic Inventory by three methods The units of an item available for sale during the year were as follows: Jan 1 Inventory 1,000 units at $120 Feb. 17 Purchase 1,375 units at $128 July 21 Purchase 1,500 units at $136 Nov. 23 Purchase 1,125 units at $140 There are 1,200 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost by (a) The FIFO Method; (b) The LIFO Method; and (c) The Weighted Average Cost Method.
What is the per unit value of ending inventory on August 31? Answers should be rounded to the nearest cent. Multiple Choice A) $18.00 B)$17.42 C)$19.63 D)$14.00 E)$15.80
2: Record the inventory transaction in the month of june 2020, Under LIFO , FIFO and AVG find the closing inventory at the end of the month. In this question value (x) is your UNIVERSITY ROLL NUMBER Date Transaction Details 1-June Balance 800 units @ 10 Per unit 3-June Purchase 100 Units @ (X) Per unit (157) 8-June Unit Sold 100 19-June Purchase 400 Units @ (X) Per Unit (157 25-June Unit Sold 800
Help Save &Exit Subr Seved Foctoring Enabled: Exam 2 (Chapters 6,7,8,9) Spring 2.. Mercury Company has only one Inventory pool. On December 31, 2018, Mercury adopted the dollar-value LIFO Inventory method. The Inventory on that date using the dollar-value LIFO method was $211,000. Inventory data are as follows: 18 Ending Inventory at Year-End Costs $254,100 336,950 339,600 Ending Inventory at Base Year Costa $242,000 293,000 283,000 Year 2019 2020 2021 Required: Compute the inventory at December 31, 2019, 2020, and 2021, using the dollar-value LIFO method. (Round "Year end cost Index" to 2 declmal places.) 13 Ending Inventory DVL Cost Inventory Layers Converted to Cost Inventory Layers Converted to Base Year Cost Inventory at Year- End Cost Year-End Cost Index Inventory Layers at Base Year Cost Inventory Layers at Base Year Cost Year-End Cost Index Inventory Layers Converted to Cost Date Base 12/31/2018 Base 12/31/2019 2019 %3D Base 12/31/2020 2019 2020 Base 12/31/2021 2019 2020
Sunrise Flowers sells flowers to a customer on credit for $130 on October 18, with a cost of sale to Sunrise of $50. What entry to recognize this sale is required if Sunrise Flowers uses a perpetual inventory system?
Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory system, what is the cost of ending inventory under FIFO at April 30? a. $32,500 b. $38,400 c. $63,600 d. $69,500
On January 1 of Year 1, Dorso Company adopted the dollar-value LIFO method of inventory costing. Dorsos December 31 ending inventory records are as follows: Year 1: Current cost, 20,000; Index, 100 Year 2: Current cost, 33,600; Index, 120 Using the dollar-value LIFO method, compute Dorsos December 31 ending inventory for Year 2.

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