Homework Answers
| 1) | answer $1120 | ||||||
| 2440/610*280 | |||||||
| 1120 | |||||||
| 2) | 220 | * | 4.3 | = | 946 | ||
| 600 | * | 4.3 | = | 2580 | |||
| 680 | * | 7 | = | 4760 | |||
| 1500 | 8286 | ||||||
| 8286/1500*500 | |||||||
| 2762 | answer | ||||||
| 3) | sold units = (230+120+120)-200 | ||||||
| 270 | units | answer | |||||
| 4) | Ending inventory(FIFO) | ||||||
| 120*5.3+80*5.4 | |||||||
| 1068 | answer | ||||||
| 5) | ending inventory (LIFO) | ||||||
| 170*5 | |||||||
| 850 | answer | ||||||
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A company just starting business made the following four inventory purchases in June: Number of units...
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ompany uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Units Per unit price Total Balance, 1/1/18 200 $5.00 $1,000 Purchase, 1/15/18 100 5.30 530 Purchase, 1/28/18 100 5.50 550 An end of the month (1/31/18) inventory showed that 200 units were on hand. If the company uses LIFO, what is the value of the ending inventory? a $1000 b. $1040 c. S1060 d. S1080 14. Effie Company uses a...
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ompany uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: Units Per unit price Total Balance, 1/1/18 200 $5.00 $1,000 Purchase, 1/15/18 100 5.30 530 Purchase, 1/28/18 100 5.50 550 An end of the month (1/31/18) inventory showed that 200 units were on hand. If the company uses LIFO, what is the value of the ending inventory? a $1000 b. $1040 c. S1060 d. S1080 14. Effie Company uses a...
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