The Wright Company recorded the following inventory information
during the month of October:
UNITS
UNIT COST...
The Wright Company recorded the following inventory information
during the month of October:
UNITS
UNIT COST
TOTAL COST
UNITS ON HAND
Balance on October 1
2,000
$1.00
$2,000
2,000
Purchased on October 8
1,200
$3.00
$3,600
3,200
Sold on October 20
1,500
1,700
Purchased on October 22
2,000
$4.00
$8,000
3,700
Sold on October 28
2,200
1,500
Purchase on October 29
1,000
$5.00
$5,000
2,500
Part B: Using the partially computed tables on
the next three pages, compute the cost...
The Wright Company recorded the following inventory information
during the month of October:
UNITS
UNIT COST...
The Wright Company recorded the following inventory information
during the month of October:
UNITS
UNIT COST
TOTAL COST
UNITS ON HAND
Balance on October 1
2,000
$1.00
$2,000
2,000
Purchased on October 8
1,200
$3.00
$3,600
3,200
Sold on October 20
1,500
1,700
Purchased on October 22
2,000
$4.00
$8,000
3,700
Sold on October 28
2,200
1,500
Purchase on October 29
1,000
$5.00
$5,000
2,500
Part B: Using the partially computed tables on the next three
pages, compute the cost...
On January 1, 2020, Widget Company had 1,600 units of Inventory,
which were reported on their...
On January 1, 2020, Widget Company had 1,600 units of Inventory,
which were reported on their Balance Sheet at $ 6.00 per
unit.
During 2020, Widget had the following transactions:
March 1, 2020: Sold 1,000 units of Inventory @ $ 15 per unit
May 1, 2020:Purchased 900 units of Inventory @ $ 7 per unit
September 1, 2020: Sold 1,200 units of Inventory @ 16 per
unit
December 31, 2020: Purchased 700 units of Inventory @ $ 8 per
unit....
Given the following data, calculate cost of goods sold and the
cost of ending inventory.
3...
Given the following data, calculate cost of goods sold and the
cost of ending inventory.
3 separate methods, FIFO, LIFO and Weighted Average. You must show
ALL calculations.
Date Transaction
1/10 Bought 200 inventory units @ $15
1/20 Bought 200 inventory units @ $17
1/25 Sold 150 inventory units @ $30
1/28 Bought 100 inventory units @ $20
1/31 Sold 120 inventory units @ $30
2/4 Bought 90 inventory units @ $21
Date
?Goods Purchased
Cost of Goods sold
Inventory...
1) Radical Radials Company has the following inventory data:
July 1 Beginning inventory 20 units...
1) Radical Radials Company has the following inventory data:
July 1 Beginning inventory 20 units at
$19
$ 380
7
Purchases
70 units at
$20
1,400
22
Purchases
10 units at
$22
220
$2,000
A physical count of merchandise inventory on July 30 reveals
that there are 32 units on hand. Using the LIFO inventory method,
the amount allocated to ending inventory for July is
620, 704, 608, 640?
2) under the allowance method, Bad Debt Expense is
recorded...
A company purchased 500 units for $20 each on January 31. It
purchased 550 units for...
A company purchased 500 units for $20 each on January 31. It
purchased 550 units for $22 each on February 28. It sold a total of
640 units for $45 each from March 1 through December 31. What is
the cost of ending inventory on December 31 if the company uses the
first−in, first−out (FIFO) inventory costing method? (Assume
that the company uses a perpetual inventory system.)
A.
$8,200
B.
$4,980
C.
$9,020
D.
$3,220
On December 1, a company had 1,000 units in inventory valued at
$787,500. On December 12,...
On December 1, a company had 1,000 units in inventory valued at
$787,500. On December 12, the company purchased 2,000 units for
$1,562,400. Sales of 2,400 units were made on December 23, and on
December 30, the company purchased another 2,000 units for
$1,537,200. If the company uses a periodic system and the
weighted-average inventory valuation method, the company’s December
31 balance sheet would report inventory of
A.$2,007,180
B.$2,021,292
C.$2,014,740
D.$2,025,660
melbourne company uses the perpetual inventory method. melbourne
putchased 900 units of inventory that cost $5.00...
melbourne company uses the perpetual inventory method. melbourne
putchased 900 units of inventory that cost $5.00 each. at a later
date the company purchased an additional 1,000 units of inventory
that cost $5.50 each. if melbourne uses a lifo cost flow method,
and sells 1,200 units of inventory, the amount of ending inventory
appearing on the balance sheet will be: