22. The inventory account of Irick Company at December 31, 2010, included the following items:Inventory Amount:Merchandise out on consignment at sales price(including markup of 40% on selling price) $15,000Goods purchased, in transit (shipped f.o.b. shipping point) 12,000Goods held on consignment by Irick 13,000Goods out on approval (sales price $7,600, cost $6,400) 7,600Based on the above information, the inventory account at December 31, 2010, should be reduced bya. $20,200.b. $22,600.c. $32,200.d. $32,000.

The Stilton Company has the following inventory and credit purchases during the fiscal year ended December 31, 2023. Beginning Feb. 10 Aug. 21 640 units @ $75/unit 350 units @ $72/unit 230 units @ $85/unit Stilton Company has two credit sales during the period. The units have a selling price of $135 per unit. Sales Mar. 15 430 units Sept. 10 335 units Stilton Company uses a perpetual inventory system. Required: 1. Calculate the dollar value of cost of goods sold and ending inventory using: (Do not round intermediate calculations. Round "Average cost per unit" to 2 decimal places. Round the final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a FIFO b. Moving weighted average

Co.'s purchases and sales of a particular product during the year are shown below: Jan. 1 Beginning Inventory Jan. 18 Purchase 1,500 units @ $ 10 1,250 units @ $ 12 1,500 units @ $ 20 1,750 units @ $ 14 1,750 units @ $ 25 500 units @ $ 15 Jan 20 Sold Jan. 25 Purchase Jan. 27 Sold Jan. 29 Purchase Assuming that company uses perpetual inventory system, determine the cost of goods sold and compute the ending inventory as of Jan. 31 and make the journal entry for Jan. 27 transaction inventory subsidiary ledger for LIF0 cost flow assumption. by using DATE IN OUT BALANCE Quantity Price Total Quantity Price Total Quantity Price Total Jan 1 Jan 18 Jan 20 Jan 25 Jan 27 Jan 29

am.111.