Question

In its first month of operations, Kingbird, Inc. made three purchases of merchandise in the following sequence: (1) 155 units at $5, (2) 520 units at $6, and (3) 140 units at $7.

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect.

Calculate the weighted-average unit cost. *(Round
answer to 2 decimal places, e.g. 15.25.)*

Weighted-average unit cost |
$enter the Average unit cost in dollars rounded to 2 decimal places |

eTextbook and Media

New attempt is in progress. Some of the new entries may impact the last attempt grading.Your answer is incorrect.

Compute the cost of the ending inventory under the average-cost
method, assuming there are 280 units on hand. **(Round
answer to 0 decimal places, e.g. 1,250.)**

The cost of the ending inventory |
$enter the cost of the ending inventory in dollars rounded to 0 decimal places |

Answer #1

Calculation of Cost of Goods Available for Sale

Unit | Unit Costs | Total cost |

155 | $5 | $775 |

520 | $6 | $3,120 |

140 | $7 | $980 |

815 | $4,875 |

Weighted-average unit cost = Cost of goods available for sale / Number of units available for sale

= 4,815/815

= $5.91

The cost of the ending inventory= Ending inventory units x Weighted-average unit cost

= 280 x 5.91

= $1,655

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Inventory information for Part 311 of Bramble Corp. discloses
the following information for the month of June.
June 1
Balance
303 units @ $14
June 10
Sold
201 units @ $34
11
Purchased
798 units @ $17
15
Sold
498 units @ $35
20
Purchased
497 units @ $18
27
Sold
299 units @ $38
New attempt is in progress. Some of the new entries may impact
the last attempt grading.Your answer is incorrect.
Assuming that the periodic inventory method is...

As of January 1, 2017, Ayayai Inc. adopted the retail method of
accounting for its merchandise inventory.
To prepare the store’s financial statements at June 30, 2017, you
obtain the following data.
Cost
Selling Price
Inventory, January 1
$27,100
$46,000
Markdowns
9,600
Markups
10,100
Markdown cancellations
6,700
Markup cancellations
3,300
Purchases
107,580
154,200
Sales revenue
153,200
Purchase returns
2,600
3,800
Sales returns and allowances
8,100
Part 1
New attempt is in progress. Some of the new entries may impact
the...

Suppose this information (in millions) is available for the
Automotive and Other Operations Divisions of General Motors
Corporation for a recent year. General Motors Corporation
uses the LIFO inventory method.
Beginning inventory
$ 13,617
Ending inventory
14,593
LIFO reserve
1,530
Current assets
64,654
Current liabilities
68,889
Cost of goods sold
168,366
Sales revenue
179,603
(a)
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the last attempt grading.Your answer is incorrect.
Calculate the inventory turnover and days...

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...

In its first month of operations, Coronado Industries made three
purchases of merchandise in the following sequence: (1) 260 units
at $8, (2) 360 units at $10, and (3) 460 units at $11. Assuming
there are 160 units on hand at the end of the period.
Compute the cost of the ending inventory under the average-cost
method. (Round answer to 0 decimal places, e.g.
5,275.)

BE6-2
In its first month of operations, McLanie Company made three
purchases of merchandise in the following sequence: (1) 300 units
at $6, (2) 400 units at $8, and (3) 500 units at $9. Assuming there
are 200 units on hand at the end of the period, compute the cost of
the ending inventory under (a) the FIFO method and (b) the LIFO
method. McLanie uses a periodic inventory system.
Compute the ending inventory using average‐cost.
(LO 2), AP
BE6-3...

Current Attempt in Progress New attempt is in progress. Some of
the new entries may impact the last attempt grading.Your answer is
incorrect. Rensing Ltd. estimates sales for the second quarter of
2017 will be as follows. Month Units April 2,600 May 2,470 June
2,320 The target ending inventory of finished products is as
follows. March 31 2,030 April 30 2,200 May 31 2,130 June 30 2,380 2
units of material are required for each unit of finished product.
Production...

Schopp Corporation makes a mechanical stuffed alligator that
sings the Martian national anthem. The following information is
available for Schopp Corporation’s anticipated annual volume of
484,000 units.
Per
Unit
Total
Direct materials
$ 6
Direct labor
$13
Variable manufacturing overhead
$16
Fixed manufacturing overhead
$2,904,000
Variable selling and administrative expenses
$12
Fixed selling and administrative expenses
$1,452,000
The company has a desired ROI of 25%. It has invested assets of
$27,104,000.
(a)
Correct answer iconYour answer is correct.
Compute the...

Please answer a2
The Vice President for Sales and Marketing at Waterways
Corporation is planning for production needs to meet sales demand
in the coming year. He is also trying to determine how the
company’s profits might be increased in the coming year. This
problem asks you to use cost-volume-profit concepts to help
Waterways understand contribution margins of some of its products
and decide whether to mass-produce any of them.
Waterways markets a simple water control and timer that it...

You are provided with the following information for Sheridan
Inc. for the month ended June 30, 2019. Sheridan uses the periodic
system for inventory.
Date
Description
Quantity
Unit Cost or
Selling Price
June
1
Beginning inventory
41
$41
June
4
Purchase
137
45
June
10
Sale
108
73
June
11
Sale return
17
73
June
18
Purchase
55
47
June
18
Purchase return
12
47
June
25
Sale
66
78
June
28
Purchase
32
51
Calculate weighted-average cost per unit....

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