Homework Answers
Average cost per unit = Total cost of goods available/Total goods available
= 41164.2/6413
= $6.42 per unit
Number of units in ending inventory = 6413-5566 = 847 units
LIFO method states that Inventory purchased later will be sold first
Ending Inventory = 726*6 + 121*6.08
= $5091.68
Average cost = 847*6.42 = $5437.74
Add Answer to:
Exercise 8-11 Sheffleld Company's record of transactions for the month of April was as follows. Purchases...
Exercise 8-11 Sheffield Company's record of transactions for the month of April was as follows. Purchases...
Exercise 8-11 Sheffield Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 726 @ $6.00 April 3 605 @ $10.00 1,815 @ 6.08 9 1,694 @ 10.00 968 @ 6.40 11 726 @ 11.00 1,452 @ 6.60 23 1,452 @ 11.00 847 @ 6.80 27 1,089 @ 12.00 605 @ 7.00 5,566 6,413 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer...
Exercise 8-11 Tamarisk Company's record of transactions for the month of April was as follows. Purchases...
Exercise 8-11 Tamarisk Company's record of transactions for the month of April was as follows. Purchases April 1 (balance on hand) 1,200 @ $6.00 3,000 @ 6.08 1,600 @ 6.40 2,400 @ 6.50 1,400 @ 6.60 1,000 @ 6.79 10,600 Sales April 3 1,000 @ $10.00 9 2,800 @ 10.00 11 1,200 @ 11.00 23 2,400 @ 11.00 27 1,800 @ 12.00 9,200 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answert...
Exercise 8-11 Tamarisk Company's record of transactions for the month of April was as follows. Purchases...
Exercise 8-11 Tamarisk Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 1,200 @ $6.00 3,000 @ 6.08 1,600@ 2,400@6.50 1,400@ 6.60 April 3 1,000 @ $10.00 4 9 2,800@ 10.00 11 1,200 @ 8 6.40 11.00 23 2,400 @ 11.00 13 27 1,800 @ 21 12.00 9,200 29 1,000 @6.79 10,600 Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO...
Exercise 8-11 Sheffield Company’s record of transactions for the month of April was as follows. Purchases...
Exercise 8-11
Sheffield Company’s record of transactions for the month of April
was as follows.
Purchases
Sales
April 1
(balance on hand)
1,260
@
$6.00
April 3
1,050
@
$10.00
4
3,150
@
6.08
9
2,940
@
10.00
8
1,680
@
6.40
11
1,260
@
11.00
13
2,520
@
6.50
23
2,520
@
11.00
21
1,470
@
6.60
27
1,890
@
12.00
29
1,050
@
6.79
9,660
11,130
Assuming that periodic inventory records are kept in units
only, calculate the...
Exercise 8-11 Swifty Company’s record of transactions for the month of April was as follows. Purchases...
Exercise 8-11
Swifty Company’s record of transactions for the month of April was
as follows.
Purchases
Sales
April 1
(balance on hand)
420
@
$6.00
April 3
350
@
$10.00
4
1,050
@
6.08
9
980
@
10.00
8
560
@
6.40
11
420
@
11.00
13
840
@
6.50
23
840
@
11.00
21
490
@
6.60
27
630
@
12.00
29
350
@
6.79
3,220
3,710
Assuming that periodic inventory records are kept in units
only, calculate the...
Exercise 8-11 Sunland Company’s record of transactions for the month of April was as follows. Purchases...
Exercise 8-11
Sunland Company’s record of transactions for the month of April was
as follows.
Purchases
Sales
April 1
(balance on hand)
1,020
@
$6.00
April 3
850
@
$10.00
4
2,550
@
6.08
9
2,380
@
10.00
8
1,360
@
6.40
11
1,020
@
11.00
13
2,040
@
6.50
23
2,040
@
11.00
21
1,190
@
6.60
27
1,530
@
12.00
29
850
@
6.79
7,820
9,010
Assuming that periodic inventory records are kept in units
only, calculate the...
Vaughn Company's record of transactions for the month of April was as follows. Purchases April 1...
Vaughn Company's record of transactions for the month of April was as follows. Purchases April 1 (balance on hand) 1,140 @ $6.00 2,850 @ 6.08 1,520 @ 6.40 2,280 @ 6.50 1,330 @ 6.60 950 @ 6.79 10,070 Sales April 3 950 @ $10.00 9 2,660 @ 10.00 11 1,140 @ 11.00 23 2,280 @ 11.00 27 1,710 @ 12.00 8,740 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2...
Exercise 8-11 Kingbird Company’s record of transactions for the month of April was as follows. Purchases...
Exercise 8-11
Kingbird Company’s record of transactions for the month of April
was as follows.
Purchases
Sales
April 1
(balance on hand)
1,500
@
$6.00
April 3
1,250
@
$10.00
4
3,750
@
6.08
9
3,500
@
10.00
8
2,000
@
6.40
11
1,500
@
11.00
13
3,000
@
6.50
23
3,000
@
11.00
21
1,750
@
6.60
27
2,250
@
12.00
29
1,250
@
6.79
11,500
13,250
Assuming that periodic inventory records are kept in units only,, calculate the...
Nash Company's record of transactions for the month of April was as follows. Purchases Sales 360...
Nash Company's record of transactions for the month of April was as follows. Purchases Sales 360 S6.00 April 3 300@ $10.00 9 840 10.00 11 360 11.00 23 720 11.00 April 1 (balance on hand 900 6.08 4 8 480e 6.40 720 650 420 6.60 13 27 540@ 12.00 21 300 6.79 2.760 29 3.180 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal places, es. 2.76 Average-cost per...
Swifty Company’s record of transactions for the month of April was as follows. Purchases Sales April...
Swifty Company’s record of transactions for the month of April
was as follows.
Purchases
Sales
April 1
(balance on hand)
420
@
$6.00
April 3
350
@
$10.00
4
1,050
@
6.08
9
980
@
10.00
8
560
@
6.40
11
420
@
11.00
13
840
@
6.50
23
840
@
11.00
21
490
@
6.60
27
630
@
12.00
29
350
@
6.79
3,220
3,710
Assuming that periodic inventory records are kept in units
only, calculate the average-cost per...
Exercise 8-11 Sheffield Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 726 @ $6.00 April 3 605 @ $10.00 1,815 @ 6.08 9 1,694 @ 10.00 968 @ 6.40 11 726 @ 11.00 1,452 @ 6.60 23 1,452 @ 11.00 847 @ 6.80 27 1,089 @ 12.00 605 @ 7.00 5,566 6,413 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer...
Exercise 8-11 Tamarisk Company's record of transactions for the month of April was as follows. Purchases April 1 (balance on hand) 1,200 @ $6.00 3,000 @ 6.08 1,600 @ 6.40 2,400 @ 6.50 1,400 @ 6.60 1,000 @ 6.79 10,600 Sales April 3 1,000 @ $10.00 9 2,800 @ 10.00 11 1,200 @ 11.00 23 2,400 @ 11.00 27 1,800 @ 12.00 9,200 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answert...
Exercise 8-11 Tamarisk Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 1,200 @ $6.00 3,000 @ 6.08 1,600@ 2,400@6.50 1,400@ 6.60 April 3 1,000 @ $10.00 4 9 2,800@ 10.00 11 1,200 @ 8 6.40 11.00 23 2,400 @ 11.00 13 27 1,800 @ 21 12.00 9,200 29 1,000 @6.79 10,600 Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO...
Exercise 8-11
Sheffield Company’s record of transactions for the month of April
was as follows.
Purchases
Sales
April 1
(balance on hand)
1,260
@
$6.00
April 3
1,050
@
$10.00
4
3,150
@
6.08
9
2,940
@
10.00
8
1,680
@
6.40
11
1,260
@
11.00
13
2,520
@
6.50
23
2,520
@
11.00
21
1,470
@
6.60
27
1,890
@
12.00
29
1,050
@
6.79
9,660
11,130
Assuming that periodic inventory records are kept in units
only, calculate the...
Exercise 8-11
Swifty Company’s record of transactions for the month of April was
as follows.
Purchases
Sales
April 1
(balance on hand)
420
@
$6.00
April 3
350
@
$10.00
4
1,050
@
6.08
9
980
@
10.00
8
560
@
6.40
11
420
@
11.00
13
840
@
6.50
23
840
@
11.00
21
490
@
6.60
27
630
@
12.00
29
350
@
6.79
3,220
3,710
Assuming that periodic inventory records are kept in units
only, calculate the...
Exercise 8-11
Sunland Company’s record of transactions for the month of April was
as follows.
Purchases
Sales
April 1
(balance on hand)
1,020
@
$6.00
April 3
850
@
$10.00
4
2,550
@
6.08
9
2,380
@
10.00
8
1,360
@
6.40
11
1,020
@
11.00
13
2,040
@
6.50
23
2,040
@
11.00
21
1,190
@
6.60
27
1,530
@
12.00
29
850
@
6.79
7,820
9,010
Assuming that periodic inventory records are kept in units
only, calculate the...
Vaughn Company's record of transactions for the month of April was as follows. Purchases April 1 (balance on hand) 1,140 @ $6.00 2,850 @ 6.08 1,520 @ 6.40 2,280 @ 6.50 1,330 @ 6.60 950 @ 6.79 10,070 Sales April 3 950 @ $10.00 9 2,660 @ 10.00 11 1,140 @ 11.00 23 2,280 @ 11.00 27 1,710 @ 12.00 8,740 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2...
Exercise 8-11
Kingbird Company’s record of transactions for the month of April
was as follows.
Purchases
Sales
April 1
(balance on hand)
1,500
@
$6.00
April 3
1,250
@
$10.00
4
3,750
@
6.08
9
3,500
@
10.00
8
2,000
@
6.40
11
1,500
@
11.00
13
3,000
@
6.50
23
3,000
@
11.00
21
1,750
@
6.60
27
2,250
@
12.00
29
1,250
@
6.79
11,500
13,250
Assuming that periodic inventory records are kept in units only,, calculate the...
Nash Company's record of transactions for the month of April was as follows. Purchases Sales 360 S6.00 April 3 300@ $10.00 9 840 10.00 11 360 11.00 23 720 11.00 April 1 (balance on hand 900 6.08 4 8 480e 6.40 720 650 420 6.60 13 27 540@ 12.00 21 300 6.79 2.760 29 3.180 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal places, es. 2.76 Average-cost per...
Swifty Company’s record of transactions for the month of April
was as follows.
Purchases
Sales
April 1
(balance on hand)
420
@
$6.00
April 3
350
@
$10.00
4
1,050
@
6.08
9
980
@
10.00
8
560
@
6.40
11
420
@
11.00
13
840
@
6.50
23
840
@
11.00
21
490
@
6.60
27
630
@
12.00
29
350
@
6.79
3,220
3,710
Assuming that periodic inventory records are kept in units
only, calculate the average-cost per...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago