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Sales Units Unit Cost Unit Price Total Date May 1 Purchases Units 100 200 Total $400...
The following transactions occurred for the month of May. Date Units Cost Total Sales Price 1-May Beginning Ba...
The following transactions occurred for the month of May. Date Units Cost Total Sales Price 1-May Beginning Balance 70 15 $1,050 2-May Purchase 75 11 $825 3-May Purchase 85 12 $1,020 10-May Sale 150 $35 15-May Purchase 40 18 $720 17-May Sale 50 $35 30-May Sale 40 $35 Create a perpetual inventory record then calculate the Cost of Goods Sold, Ending inventory, and Gross Profit for the month under FIFO Purchases Cost of Goods Sold Inventory on Hand Dates Quantity...
Purchases - Units and Unit Costs Sales - Total Units October 1 Balance 100 @ 5.00...
Purchases - Units and Unit Costs Sales - Total Units October 1 Balance 100 @ 5.00 October 300 400 300 @ @ 5.10 5.30 200 @ 5.35 600 @ 5.60 200 @ 5.80 Instructions (a)Determine the inventory at October 30 on each of the following bases and Cost of Goods Sold. Assume that periodic (without withdrawal) inventory records are kept in dollars, Carry unit costs to the nearest cent. (1) FIFO (2)LIFO (3)Average (b) If the perpetual inventory record is...
Chat Can SOLUTIONS - M Wed BRIEF EXERCISE 6.5 Date Units Purchases Cost Total Cost of...
Chat Can SOLUTIONS - M Wed BRIEF EXERCISE 6.5 Date Units Purchases Cost Total Cost of goods sold Units Cost Total Units Inventory balance Cost Total June 1 200 400 $25.00 $22.00 $5,000.00 $8,800.00 200 $25.00 $5,000.00 200 400 $25.00 $22.00 5,000.00 8.800.00 13,800.00 200 150 $25.00 $22.00 $5,000.00 $3,300.00 $8,300.00 $22.00 6,500.00 350 $20.00 $7,000.00 $22.00 $20.00 5,500.00 7.000.00 12,500.00 LO 2 BT AP Difficulty: M Time 20 min. AACSB. None CPA cp-1001 CM Reporting Page 1 of 13...
Wamerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 100 units $50.00 per unit 4...
Wamerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 100 units $50.00 per unit 400 units $55.00 per unit Date Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Activities 420 units$85.00 per unit 120 units @ $60.00 per unit 200 units $62.00 per unit 160 units& $95.00 per unit 580 units 820...
Sales May 1 Purchases (balance) 400 @ $5.10 1,400 @ $5.20 600 @ $5.30 May 3 200 1,000 500 1 A tary balance in sold...
Sales May 1 Purchases (balance) 400 @ $5.10 1,400 @ $5.20 600 @ $5.30 May 3 200 1,000 500 1 A tary balance in sold for the Assuming that a periodic inventory system and p ut the cost of Goo month of May using the Average Cost method (Round to 2 decimal places
beginning inventory and purchases Sales Date Units Unit Cost Total Date Units Beg. Inv. 6250 3...
beginning inventory and purchases Sales Date Units Unit Cost Total Date Units Beg. Inv. 6250 3 18750 15-Mar 5000 3.12 15600 3-Feb 5250 10-May 8750 3.3 28875 4-May 4250 12-Aug 6250 3.48 21750 16-Sep 8000 20-Nov 3750 3.72 13950 9-Oct 7250 TOTAL 30000 TOTAL 25000 Beg. Inv 6250 Purchses 23750 (total - beg. Inv) Goods Ava. 30000 Sales 25000 Ending inv. 5000 (purchase-sales) Ending inv. Under specific identification Didn't provide sale so omit this part Ending inv. Under FIFO Sales...
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for...
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 66 $ 300 $ 19,800 8 Purchase 132 360 47,520 11 Sale 88 1,000 88,000 30 Sale 55 1,000 55,000 May 8 Purchase 110 400 44,000 10 Sale 66 1,000 66,000 19 Sale 33 1,000 33,000 28 Purchase 110 440 48,400 June 5 Sale 66 1,050 69,300...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for prepaid cell phones for May...
Perpetual Inventory Using FIFO Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Inventory Purchases Sales May 1 2,000 units at $33 May 10 1,000 units at $35 May 12 1,400 units May 20 900 units at $37 May 14 1,200 units May 31 600 units Assume that the business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory balance...
The Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales...
The Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March 2019. For specific identification: • The March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; The March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Date Activities Units Acqulied at Cost Units Sold at Retail 100 units a $50.00 per unit...
Date Explanation Units Unit Cost Total Cost June 1 Inventory 123 $ 615 Purchases 2,106 Purchases...
Date Explanation Units Unit Cost Total Cost June 1 Inventory 123 $ 615 Purchases 2,106 Purchases 1,358 Inventory Calculate weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost $ e Textbook and Media Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory The cost of goods sold
Purchases - Units and Unit Costs Sales - Total Units October 1 Balance 100 @ 5.00 October 300 400 300 @ @ 5.10 5.30 200 @ 5.35 600 @ 5.60 200 @ 5.80 Instructions (a)Determine the inventory at October 30 on each of the following bases and Cost of Goods Sold. Assume that periodic (without withdrawal) inventory records are kept in dollars, Carry unit costs to the nearest cent. (1) FIFO (2)LIFO (3)Average (b) If the perpetual inventory record is...
Chat Can SOLUTIONS - M Wed BRIEF EXERCISE 6.5 Date Units Purchases Cost Total Cost of goods sold Units Cost Total Units Inventory balance Cost Total June 1 200 400 $25.00 $22.00 $5,000.00 $8,800.00 200 $25.00 $5,000.00 200 400 $25.00 $22.00 5,000.00 8.800.00 13,800.00 200 150 $25.00 $22.00 $5,000.00 $3,300.00 $8,300.00 $22.00 6,500.00 350 $20.00 $7,000.00 $22.00 $20.00 5,500.00 7.000.00 12,500.00 LO 2 BT AP Difficulty: M Time 20 min. AACSB. None CPA cp-1001 CM Reporting Page 1 of 13...
Wamerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 100 units $50.00 per unit 400 units $55.00 per unit Date Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Activities 420 units$85.00 per unit 120 units @ $60.00 per unit 200 units $62.00 per unit 160 units& $95.00 per unit 580 units 820...
Sales May 1 Purchases (balance) 400 @ $5.10 1,400 @ $5.20 600 @ $5.30 May 3 200 1,000 500 1 A tary balance in sold for the Assuming that a periodic inventory system and p ut the cost of Goo month of May using the Average Cost method (Round to 2 decimal places
The Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March 2019. For specific identification: • The March 9 sale consisted of 80 units from beginning inventory and 340 units from the March 5 purchase; The March 29 sale consisted of 40 units from the March 18 purchase and 120 units from the March 25 purchase. Date Activities Units Acqulied at Cost Units Sold at Retail 100 units a $50.00 per unit...
Date Explanation Units Unit Cost Total Cost June 1 Inventory 123 $ 615 Purchases 2,106 Purchases 1,358 Inventory Calculate weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average unit cost $ e Textbook and Media Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO Average-cost The cost of the ending inventory The cost of goods sold
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