Question

BE8.5 (LO 3) Data for Amsterdam Company are presented in BE8.4. Compute the April 30 inventory...

BE8.5 (LO 3) Data for Amsterdam Company are presented in BE8.4. Compute the April 30 inventory and the April cost of goods sold using the FIFO method.

Homework Answers

Answer #1

Refer to the below image for the above mentioned requirement, in a detailed way of solution.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Tamarisk Company uses a periodic inventory system. For April, when the company sold 550 units, the...
Tamarisk Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 260 $15 $ 3,900 April 15 purchase 430 18 7,740 April 23 purchase 310 20 6,200 1,000 $17,840 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold $
Pronghorn Company uses a periodic inventory system. For April, when the company sold 400 units, the...
Pronghorn Company uses a periodic inventory system. For April, when the company sold 400 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 220 $11 $ 2,420 April 15 purchase 450 13 5,850 April 23 purchase 330 14 4,620 1,000 $12,890 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $    Cost of goods sold $
Cullumber Company uses a periodic inventory system. For April, when the company sold 550 units, the...
Cullumber Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 250 $14 $ 3,500 April 15 purchase 420 17 7,140 April 23 purchase 330 18 5,940 1,000 $16,580 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory Cost of goods sold
Bonita Company uses a periodic inventory system. For April, when the company sold 550 units, the...
Bonita Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 300 $19 $ 5,700 April 15 purchase 410 23 9,430 April 23 purchase 290 25 7,250 1,000 $22,380 Compute the April 30 inventory and the April cost of goods sold using the FIFO method.
Jackson Company provided the following data about its inventory for the month of April. Use this...
Jackson Company provided the following data about its inventory for the month of April. Use this information for the questions below. Date Transaction April 1 Beginning inventory 300 units at $10 April 2 Sold 200 units at $24 April 3 Purchased 800 units at $12 April 14 Sold 500 units at $24 April 20 Purchased 500 units at $13 April 30 Sold 300 units at $25 Assume Jackson uses the periodic system of inventory. Calculate ending inventory and cost of...
Indigo Company uses a periodic inventory system. For April, when the company sold 570 units, the...
Indigo Company uses a periodic inventory system. For April, when the company sold 570 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 250 $28 $ 7,000 April 15 purchase 350 34 11,900 April 23 purchase 400 36 14,400 1,000 $33,300 Compute the April 30 inventory and the April cost of goods sold using the LIFO method. Ending inventory $ Cost of goods sold $
Sunland Company uses a periodic inventory system. For April, when the company sold 550 units, the...
Sunland Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Units Cost Total Units April 1 Inventory 340 $23 $7,820 April 15 Purchase 390 28 10,920 April 23 Purchase 270 30 8,100 Total 1,000 $26,840 Compute the April 30 inventory and the April cost of goods sold using the average-cost method. (Round answers to 0 decimal places, e.g. 2,760.) Ending Inventory? Cost of Goods Sold?
Coronado Company uses a periodic inventory system. For April, when the company sold 450 units, the...
Coronado Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 330 $22 $ 7,260 April 15 purchase 380 26 9,880 April 23 purchase 290 29 8,410 1,000 $25,550 (a) Correct answer iconYour answer is correct. Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost per unit $enter weighted average cost per unit in dollars...
Cost of Goods Sold, Cost of Goods Manufactured Glenville Company has the following information for April:...
Cost of Goods Sold, Cost of Goods Manufactured Glenville Company has the following information for April: Cost of direct materials used in production $ 56,000 Direct labor 65,000 Factory overhead 34,000 Work in process inventory, April 1 41,000 Work in process inventory, April 30 37,000 Finished goods inventory, April 1 24,000 Finished goods inventory, April 30 19,000 a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Glenville Company...
Journalize each transaction: April 1- We buy 4 items at 10 cents per item April 3-...
Journalize each transaction: April 1- We buy 4 items at 10 cents per item April 3- We sell 2 items for $1 per item for cash April 6- We buy 4 items at 12 cents per item April 12- We sell 3 items at $1 per item for cash April 20- We buy 4 items at 15 cents per item April 27- We sell 5 items at $1 per item for cash What is ending inventory & cost of goods...