Taking exam, please help! calculate ending inventory and cogs using the following inventory costing methods. THANKYOU
Homework Answers
Calculate following :
Average cost per unit = 18219/201 = 90.64 per unit
Ending inventory = 72*90.64 = 6526
Cost of goods sold = 129*90.64 = 11693
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Taking exam, please help! calculate ending inventory
and cogs using the following inventory costing methods.
THANKYOU...
Consider the following information for Maynor Company, which uses a periodic inventory system: Consider the following...
Consider the following information for Maynor Company, which
uses a periodic inventory system:
Consider the following information for Maynor Company, which uses a periodic inventory system Transaction Beginning Inventory Purchase Purchase Purchase Units Unit Cost Total Cost 12 January 1 March 28 August 22 October 14 Goods Available for Sale 24 29 87 $ 62 68 72 78 $744 1,496 1,728 2,262 $6,230 The company sold 29 units on May 1 and 24 units on October 28 Required: Calculate the...
Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Beginning Inventory...
Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Beginning Inventory Purchase Purchase Purchase Units 16 26 Unit Cost $66 72 Total Cost $1,056 1,872 January 1 March 28 August 22 October 14 32 76 2,432 82 3,034 Goods Available for Sale $8,394 The company sold 37 units on May 1 and 32 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing...
Consider the following information for Maynor Company, which uses a periodic inventory system: Units 22 Transaction...
Consider the following information for Maynor Company, which uses a periodic inventory system: Units 22 Transaction Beginning Inventory Purchase Purchase Purchase Unit Cost $72 78 January 1 March 28 August 22 October 14 Total Cost $ 1,584 2,496 3,608 4,312 Goods Available for Sale 147 $12,000 The company sold 49 units on May 1 and 44 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following invento, costing methods. (Round...
hapter 610) Consider the following information for Maynor Company, which uses a periodic inventory system Total...
hapter 610) Consider the following information for Maynor Company, which uses a periodic inventory system Total Cost Unit Cost $ 60 January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase 1,320 1.400 $5,220 The company sold 25 units on May 1 and 20 units on October 28 Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. (Round the per unit cost...
Problem 6-68BInventory Costing Methods Objective 3Apply the four inventory costing methods to compute ending inventory and...
Problem 6-68BInventory Costing Methods Objective 3Apply the four inventory costing methods to compute ending inventory and cost of goods sold under a perpetual inventory system. 4Analyze the financial reporting and tax effects of the various inventory costing methods. 6Evaluate inventory management using the gross profit and inventory turnover ratios. Terpsichore Company uses a perpetual inventory system. For 2018 and 2019, Terpsichore has the following data: Activity Units Purchase Price (per unit) Sale Price (per unit) 2018 Beginning inventory 100 $45...
Inventory Costing Methods Oppenheimer Inc. reported the following information for the month of October: Inventory, October...
Inventory Costing Methods Oppenheimer Inc. reported the following information for the month of October: Inventory, October 1 Purchase: October7 October 18 October 27 During October, Oppenheimer sold 132 units. The company uses a periodic inventory system Required What is the value of ending inventory and cost of goods sold for October under the following assumptions Assumption 1. Of the 132 units sold, 46 cost $26, 38 cost $28, 44 cost $29, and 4 cost $31 2. FIFO 3. LIFO 4....
Consider the following information for Maynor Company, which uses a periodic inventory system: Unit Cost $73...
Consider the following information for Maynor Company, which uses a periodic inventory system: Unit Cost $73 Transaction Beginning Inventory Purchase Purchase Purchase January 1 March 28 August 22 October 14 Units 23 33 46 51 79 Total Cost $ 1,679 2.607 3,818 4,539 83 89 Goods Available for Sale 153 $12,643 The company sold 51 units on May 1 and 46 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of...
Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Units...
Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Units Unit Cost Total Cost January 1 Beginning Inventory 15 $ 65 $ 975 March 28 Purchase 25 71 1,775 August 22 Purchase 30 75 2,250 October 14 Purchase 35 81 2,835 Goods Available for Sale 105 $ 7,835 The company sold 35 units on May 1 and 30 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using...
Consider the following Information for Maynor Company, which uses a perlodic Inventory system: Transaction Beginning Inventory...
Consider the following Information for Maynor Company, which uses a perlodic Inventory system: Transaction Beginning Inventory Purchase ITI Units Unit Cost Total Cost S B5 $ 2,975 January 1 March 28 35 4,095 6, 650 45 91 August 22 Purchase 70 95 75 7,575 October 14 Purchase 101 225 $21, 295 Goods Available for Sale The company sold 75 units on May 1 and 70 units on October 28. Required: Calculate the company's ending Inventory and cost of goods sold...
Inventory Costing Methods VanderMeer Inc. reported the following information for the month of October: Inventory, October...
Inventory Costing Methods VanderMeer Inc. reported the following information for the month of October: Inventory, October 1 70 units @ $26 Purchase: October 7 57 units @ $27 October 18 63 units @ $28 October 27 48 units @ $29 During October, VanderMeer sold 151 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods sold for October under the following assumptions. Assumption Cost of Goods Sold Ending Inventory 1....
Consider the following information for Maynor Company, which
uses a periodic inventory system:
Consider the following information for Maynor Company, which uses a periodic inventory system Transaction Beginning Inventory Purchase Purchase Purchase Units Unit Cost Total Cost 12 January 1 March 28 August 22 October 14 Goods Available for Sale 24 29 87 $ 62 68 72 78 $744 1,496 1,728 2,262 $6,230 The company sold 29 units on May 1 and 24 units on October 28 Required: Calculate the...
Consider the following information for Maynor Company, which uses a periodic inventory system: Transaction Beginning Inventory Purchase Purchase Purchase Units 16 26 Unit Cost $66 72 Total Cost $1,056 1,872 January 1 March 28 August 22 October 14 32 76 2,432 82 3,034 Goods Available for Sale $8,394 The company sold 37 units on May 1 and 32 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing...
Consider the following information for Maynor Company, which uses a periodic inventory system: Units 22 Transaction Beginning Inventory Purchase Purchase Purchase Unit Cost $72 78 January 1 March 28 August 22 October 14 Total Cost $ 1,584 2,496 3,608 4,312 Goods Available for Sale 147 $12,000 The company sold 49 units on May 1 and 44 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of following invento, costing methods. (Round...
hapter 610) Consider the following information for Maynor Company, which uses a periodic inventory system Total Cost Unit Cost $ 60 January 1 March 28 August 22 October 14 Goods Available for Sale Transaction Beginning Inventory Purchase Purchase Purchase 1,320 1.400 $5,220 The company sold 25 units on May 1 and 20 units on October 28 Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. (Round the per unit cost...
Inventory Costing Methods Oppenheimer Inc. reported the following information for the month of October: Inventory, October 1 Purchase: October7 October 18 October 27 During October, Oppenheimer sold 132 units. The company uses a periodic inventory system Required What is the value of ending inventory and cost of goods sold for October under the following assumptions Assumption 1. Of the 132 units sold, 46 cost $26, 38 cost $28, 44 cost $29, and 4 cost $31 2. FIFO 3. LIFO 4....
Consider the following information for Maynor Company, which uses a periodic inventory system: Unit Cost $73 Transaction Beginning Inventory Purchase Purchase Purchase January 1 March 28 August 22 October 14 Units 23 33 46 51 79 Total Cost $ 1,679 2.607 3,818 4,539 83 89 Goods Available for Sale 153 $12,643 The company sold 51 units on May 1 and 46 units on October 28. Required: Calculate the company's ending inventory and cost of goods sold using the each of...
Consider the following Information for Maynor Company, which uses a perlodic Inventory system: Transaction Beginning Inventory Purchase ITI Units Unit Cost Total Cost S B5 $ 2,975 January 1 March 28 35 4,095 6, 650 45 91 August 22 Purchase 70 95 75 7,575 October 14 Purchase 101 225 $21, 295 Goods Available for Sale The company sold 75 units on May 1 and 70 units on October 28. Required: Calculate the company's ending Inventory and cost of goods sold...
Inventory Costing Methods VanderMeer Inc. reported the following information for the month of October: Inventory, October 1 70 units @ $26 Purchase: October 7 57 units @ $27 October 18 63 units @ $28 October 27 48 units @ $29 During October, VanderMeer sold 151 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods sold for October under the following assumptions. Assumption Cost of Goods Sold Ending Inventory 1....
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