Window Help sjoo Meeting 5.pdf (page 6 of 7) - Edited Q Search C) €50,700 D) €50,883 2. A company just starting its business made the following four inventory purchases in June: Date Units Total purchase price (in €) June 1 150 units 2,600 0060 4,200 June 10 200 units June 15 200 units June 28 150 units 3,300 TOTAL A physical count of the inventory on June 30 reveals that there are 100 units on hand. The inventory method which results in the highest gross profit for June is: A) the FIFO method B) all inventory methods result in'the same gross profit C) the LIFO method D) the average-cost method 2020.pdf. untitled folder HON MacBook Air

Window Help sjoo Meeting 5.pdf (page 6 of 7) - Edited Q Search C) €50,700 D) €50,883 2. A company just starting its business made the following four inventory purchases in June: Date Units Total purchase price (in €) June 1 150 units 2,600 0060 4,200 June 10 200 units June 15 200 units June 28 150 units 3,300 TOTAL A physical count of the inventory on June 30 reveals that there are 100 units on hand. The inventory method which results in the highest gross profit for June is: A) the FIFO method B) all inventory methods result in'the same gross profit C) the LIFO method D) the average-cost method 2020.pdf. untitled folder HON MacBook Air

Name: How to solve this and which answer is the correct? Window HelpsjooMeet
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: How to solve this and which answer is the correct? Window HelpsjooMeeting 5.pdf (page 6 of 7) - EditedQ SearchC) €50,700D) €50,8832. A company just starting its business made the following four inventory purchases in June:DateUnitsTotal purchase pric

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Inventories

Section: Chapter Questions

Problem 6.2BE: Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as...

See similar textbooks

Similar questions

Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 175 units at 30 7 Sale 155 units 15 Purchase 200 units at 33 24 Sale 140 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (A) the cost of goods sold on October 24 and (B) the inventory on October 31.
The inventory data for an item for November are: Nov. 1 Inventory 20 units at $19 4 Sale 10 units 10 Purchase 30 units at $20 17 Sale 20 units 30 Purchase 10 units at $21 Using a perpetual system, what is the value of COGS for November if the company uses FIFO? Select one: a. $600 b. $610 c. $400 d. $590
The inventory data for an item for November are: Nov. 1 Inventory 20 units at $19 4 Sale 10 units 10 Purchase 30 units at $20 17 Sale 20 units 30 Purchase 10 units at $21 Using a perpetual system, what is the value of COGS and ending inventory for November if the company uses LIFO? Select one: a. $600 b. $610 c. $400 d. $590
Maria B, Inc. uses a perpetual inventory system. This system includes a perpetual inventory record card for each of the 50 types of the products the company keep in stock. The following transactions show the purchase and sale of particular round table (product code AB-RB7) during November. Nov.1 Balance on hand, 50 units, cost $60 each…………………………………….$3,000 Nov.4Purchase, 20 Units, cost $65 each……………………………………………..$1300 Nov.8Sale, 35 units, Sale price $100 each…………………………………………...$3500 Nov.9 Purchase, 40 units, cost $65 each……………………………………………..$2600 Nov.20Sale, 60 units, sale price $100 each…………………………………………..$6000 Nov.25Purchase 40 units, cost $70 each…………………………………….……….$2800 Nov.30Sale 5 units sale price $110 each………………………………………...…….$550 Required: Record the beginning inventory, the purchases, the cost of goods sold, and the running balance on an inventory record card by Using W.Average Cost Method & LIFO method. Prepare journal entries to record these purchases and sales in…
Maria B, Inc. uses a perpetual inventory system. This system includes a perpetual inventory record card for each of the 50 types of the products the company keep in stock. The following transactions show the purchase and sale of particular round table (product code AB-RB7) during November. Nov.1 Balance on hand, 50 units, cost $60 each…………………………………….$3,000 Nov.4Purchase, 20 Units, cost $65 each……………………………………………..$1300 Nov.8Sale, 35 units, Sale price $100 each…………………………………………...$3500 Nov.9 Purchase, 40 units, cost $65 each……………………………………………..$2600 Nov.20Sale, 60 units, sale price $100 each…………………………………………..$6000 Nov.25Purchase 40 units, cost $70 each…………………………………….……….$2800 Nov.30Sale 5 units sale price $110 each………………………………………...…….$550 Required: Record the beginning inventory, the purchases, the cost of goods sold, and the running balance on an inventory record card by Using Average Cost Method & LIFO method. Prepare journal entries to record these purchases and sales in…
Maria B, Inc. uses a perpetual inventory system. This system includes a perpetual inventory record card for each of the 50 types of the products the company keep in stock. The following transactions show the purchase and sale of particular round table (product code AB-RB7) during November. Nov.1 Balance on hand, 50 units, cost $60 each…………………………………….$3,000 Nov.4Purchase, 20 Units, cost $65 each……………………………………………..$1300 Nov.8Sale, 35 units, Sale price $100 each…………………………………………...$3500 Nov.9 Purchase, 40 units, cost $65 each……………………………………………..$2600 Nov.20Sale, 60 units, sale price $100 each…………………………………………..$6000 Nov.25Purchase 40 units, cost $70 each…………………………………….……….$2800 Nov.30Sale 5 units sale price $110 ea Maria B, Inc. uses a perpetual inventory system. This system includes a perpetual inventory record card for each of the 50 types of the products the company keep in stock. The following transactions show the purchase and sale of particular round table (product code AB-RB7)…
Please help right away LIFO Perpetual Inventory The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows: Date Transaction Numberof Units Per Unit Total Apr. 3 Inventory 54 525 $28350 8 Purchase 108 630 68040 11 Sale 72 1750 126000 30 Sale 45 1750 78750 May 8 Purchase 90 700 63000 10 Sale 54 1750 94500 19 Sale 27 1750 47250 28 Purchase 90 770 69300 June 5 Sale 54 1840 99360 16 Sale 72 1840 132480 21 Purchase 162 840 136080 28 Sale 81 1840 149040 Required: 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4, using the last-in, first-out method. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER…
Please refer to the picture below for information. Kindly show the complete solution using MS Excel or Table. Thank you so much. Question: Using Perpetual system and LIFO method, what is the amount of inventory as of December 31? a. P59,000 b. P57,000 c. P61,600 d. P60,210
Use the following information from Marvel Company for themonth of July. July 1 Beginning inventory 75 units @ $25 eachJuly 3 Purchase 348 units @ $27 eachJuly 8 Sale 300 unitsJuly 15 Purchase 257 units @ $28 eachJuly 23 Sale 275 units Assume that Marvel uses a perpetual LIFO inventory system. What is the dollar value of its ending inventory? a. $2,940 c. $2,625 e. $2,705 b. $2,685 d. $2,852
Use the following information from Marvel Company for themonth of July. July 1 Beginning inventory 75 units @ $25 eachJuly 3 Purchase 348 units @ $27 eachJuly 8 Sale 300 unitsJuly 15 Purchase 257 units @ $28 eachJuly 23 Sale 275 units Assume that Marvel uses a perpetual FIFO inventory system. What is the dollar value of its ending inventory? a. $2,940 c. $2,625 e. $2,705 b. $2,685 d. $2,852
eBook Show Me How FIFO Perpetual Inventory The beginning inventory of merchandise at Rhodes Co. and data on purchases and sales for a three-month period ending June 30 are as follows: Date Transaction Numberof Units Per Unit Total Apr. 3 Inventory 66 $600 $39,600 8 Purchase 132 720 95,040 11 Sale 88 2,000 176,000 30 Sale 55 2,000 110,000 May 8 Purchase 110 800 88,000 10 Sale 66 2,000 132,000 19 Sale 33 2,000 66,000 28 Purchase 110 880 96,800 June 5 Sale 66 2,100 138,600 16 Sale 88 2,100 184,800 21 Purchase 198 960 190,080 28 Sale 99 2,100 207,900
a companys inventory records report the following august 1 begining balancw 16 units at 6.00 5th purchase 11 units at 5.00 12th purchase 15 units at 6.00 on august 15 it sold 32 units using the FIFO what is the value of the inventory at august 15th after the sale 192 60 80 420 if not shown what is the answer?