lasgow Enterprises started the period with 80 units in beginning inventory that cost $1.90 each. During...
lasgow Enterprises started the period with 80 units in beginning inventory that cost $1.90 each. During the period, the company purchased inventory items as follows. Glasgow sold 265 units after purchase 3 for $1.90 each.
| Purchase | No. of Items | Cost | ||||
| 1 | 400 | $ | 2.40 | |||
| 2 | 100 | $ | 2.50 | |||
| 3 | 60 | $ | 2.90 | |||
Glasgow's ending inventory under weighted average would be approximately: a. 900 b. 636 c. 786 d. 907
Homework Answers
Total cost = (80*1.90)+(400*2.4)+(100*2.5)+(60*2.9)
= 1536
Total units = 80 + 400 +100 + 60 = 640
Average cost per unit = 1536/640 = 2.40
Ending inventory = Units available - Units sold = 640 - 265 = 375
Cost of ending inventory = 375*2.4 = 900
Option A
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lasgow Enterprises started the period with 80 units in beginning
inventory that cost $1.90 each. During...
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.00 each. During...
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.00 each. During the period, the company purchased Inventory Items as follows. Glasgow sold 230 units after purchase 3 for $10.00 each Purchase No. of Items 210 Cost $2.50 82.60 53.00 155 Glasgow's cost of goods sold under FIFO would be Multiple Choice Ο φ620 Ο οοο. Ο Ο οιοο. Ο
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.20 each. During...
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.20 each. During the period, the company purchased inventory items as follows. Glasgow sold 350 units after purchase 3 for $10.40 each. Purchase No. of Items Cost 1 330 $ 2.70 2 135 $ 2.80 3 55 $ 3.20 Glasgow's ending inventory under LIFO would be: a. 635 b. 700 c. 800 d. 550
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During...
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Purchase No. of Items 390 105 55 Cost $2.50 $2.60 $3.00 3 Glasgow sold 300 units after purchase 3 for $8.10 each. What is Glasgow's ending inventory under LIFO? Multiple Choice $930 $806 $745 $620
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During...
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Purchase No. of Itens Cost 1 390 $2.50 2 105 $2.60 3 55 $3.00 Glasgow sold 300 units after purchase 3 for $8.10 each What is Glasgow's ending inventory under weighted average rounded)? Multiple Choice $778 o $785 $753 O $686 < Prev 26 of 28 !!! Next > G Q Search or enter website...
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During...
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Purchase 1 2 3 No. of Items 390 105 55 Cost $2.50 $2.60 $3.00 Glasgow sold 300 units after purchase 3 for $8.10 each. What is Glasgow's cost of goods sold under FIFO? Multiple Choice $720 o $600 $900 $802 < Prev 24 25 26 Next > of 28 Q Search or enter website name...
Glasgow Enterprises started the period with 70 units in beginning inventory that cost $2.70 each. During...
Glasgow Enterprises started the period with 70 units in beginning inventory that cost $2.70 each. During the period, the company purchased inventory items as follows, Glasgow sold 240 units after purchase 3 for $10.80 each. Purchase No. of Items 220 160 60 Cost $3.20 $3.30 $3.70 1 Glasgow's ending inventory under LIFO would be Multiple Choice $891
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.20 each. During...
Glasgow Enterprises
started the period with 60 units in beginning inventory that cost
$2.20 each. During the period, the company purchased inventory
items as follows. Glasgow sold 290 units after purchase 3 for
$10.40 each.
Purchase
No. of Items
Cost
1
270
$
2.70
2
185
$
2.80
3
55
$
3.20
Glasgow's cost of
goods sold under FIFO would be:
Multiple Choice
$638.
$834.
$928.
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.20...
Glasgow Enterprises started the period with 70 units in beginning inventory that cost $2.50 each. During...
Glasgow Enterprises started the period with 70 units in beginning inventory that cost $2.50 each. During the period, the company purchased inventory items as follows. Glasgow sold 380 units after purchase 3 for $10.80 each. Purchase No. of Items Cost 1 360 $ 3.00 2 120 $ 3.10 3 60 $ 3.50 Glasgow's cost of goods sold under FIFO would be: Multiple Choice a. $1,330. b. $950. c. $1,105. d. $1,202.
[The following information applies to the questions displayed below.] Glasgow Enterprises started the period with 80...
[The following information applies to the questions displayed below.] Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.70 each. During the period, the company purchased inventory items as follows: Purchase No. of Items Cost 1 250 $ 3.20 2 110 $ 3.30 3 60 $ 3.70 Glasgow sold 270 units after purchase 3 for $10.20 each. What is Glasgow's ending inventory under LIFO?
[The following information applies to the questions displayed below.] Glasgow Enterprises started the period with 80...
[The following information applies to the questions displayed below.] Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.70 each. During the period, the company purchased inventory items as follows: Purchase No. of Items Cost 1 250 $ 3.20 2 110 $ 3.30 3 60 $ 3.70 Glasgow sold 270 units after purchase 3 for $10.20 each. What is Glasgow's cost of goods sold under FIFO?
Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.00 each. During the period, the company purchased Inventory Items as follows. Glasgow sold 230 units after purchase 3 for $10.00 each Purchase No. of Items 210 Cost $2.50 82.60 53.00 155 Glasgow's cost of goods sold under FIFO would be Multiple Choice Ο φ620 Ο οοο. Ο Ο οιοο. Ο
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Purchase No. of Items 390 105 55 Cost $2.50 $2.60 $3.00 3 Glasgow sold 300 units after purchase 3 for $8.10 each. What is Glasgow's ending inventory under LIFO? Multiple Choice $930 $806 $745 $620
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Purchase No. of Itens Cost 1 390 $2.50 2 105 $2.60 3 55 $3.00 Glasgow sold 300 units after purchase 3 for $8.10 each What is Glasgow's ending inventory under weighted average rounded)? Multiple Choice $778 o $785 $753 O $686 < Prev 26 of 28 !!! Next > G Q Search or enter website...
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.00 each. During the period, the company purchased inventory items as follows: Purchase 1 2 3 No. of Items 390 105 55 Cost $2.50 $2.60 $3.00 Glasgow sold 300 units after purchase 3 for $8.10 each. What is Glasgow's cost of goods sold under FIFO? Multiple Choice $720 o $600 $900 $802 < Prev 24 25 26 Next > of 28 Q Search or enter website name...
Glasgow Enterprises started the period with 70 units in beginning inventory that cost $2.70 each. During the period, the company purchased inventory items as follows, Glasgow sold 240 units after purchase 3 for $10.80 each. Purchase No. of Items 220 160 60 Cost $3.20 $3.30 $3.70 1 Glasgow's ending inventory under LIFO would be Multiple Choice $891
Glasgow Enterprises
started the period with 60 units in beginning inventory that cost
$2.20 each. During the period, the company purchased inventory
items as follows. Glasgow sold 290 units after purchase 3 for
$10.40 each.
Purchase
No. of Items
Cost
1
270
$
2.70
2
185
$
2.80
3
55
$
3.20
Glasgow's cost of
goods sold under FIFO would be:
Multiple Choice
$638.
$834.
$928.
Glasgow Enterprises started the period with 60 units in beginning inventory that cost $2.20...
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