Brambie Corp. has 240000 of ending finished goods inventory as of December 31, 2019. If beginning finished goods inventory was 18000 and costs of goods sold was 53000, how much would Brambie report for cost of goods manufactured?

Q: During 2021, a company sells 374 units of inventory for $94 each. The company has the following…

A: Under LIFO Method, cost of goods sold and value of ending inventory is calculated on the assumption…

Q: For 2020, cost of goods available for sale for Crane Corporation was $5600000. The gross profit rate…

A:

Q: Bb Company uses FIFO costing and applies lower of cost and net realizable to its inventories. At the…

A: Fast-In, First-Out (FIFO) Method:  FIFO, is a strategy for the valuation of resources or…

Q: Hogan Industries had the following inventory transactions occur during 2022: Units Cost/unit Feb. 1,…

A: Lets understand the basics. Gross profit is a profit generated from the sales. Gross profit = Sales…

Q: During 2021, a company sells 470 units of inventory for $94 each. The company has the following…

A: Average cost per unit = Cost of goods available for sales / Total units available for sale = $41,053…

Q: ANC Company had the following transactions: Beginning inventory, 200 at P5 per unit; purchased on…

A: The Numerical has covered the concept of the Moving Average method For Estimating Ending Inventory…

Q: The records of Rami co. show the following data in June 30, 2020 Date Explanation Unit Unit Cost…

A: Inventory valuation is a method used by the organisation to evaluate the total value of goods held…

Q: Manufacturing overhead Actual OMR 80,000 Indirect materials OMR 0     Compute the adjusted…

A: COGS = Beginning Inventory + Purchases During the Period – Ending Inventory = 20,000+100,000-30,000…

Q: The following relate to God's blessings enterprise for the year ended 31 December 2019. Production…

A: Workings: Given values: Finished goods opening inventory cost =  255000

Q: The records of Rami co. show the following data in June 30, 2020, During the month inventory on hand…

A: The cost of goods sold is the total cost that is contributes in the selling of the product.

Q: The management of Gresa Inc. is reevaluating the appropriateness of using its present inventory cost…

A: Calculation of COGS under FIFO method As per FIFO Method: Particulars Units Cost per unit Total…

Q: XYZ Co. has the following information: Inventory at 1st Inventory at 31st Dec 2020 Jan 2020 Raw…

A: Overapplied = Applied overhead-Actual overhead

Q: In 2021, the Barton and Barton Company changed its method of valuing inventory from the FIFO method…

A: Change in the method of inventory valuation: Changing the method of inventory valuation is a change…

Q: Music, Inc. had the following beginning and ending values in its three inventory accounts: Raw…

A: Gross profit refers to the difference of total revenue and direct costs associated with the…

Q: Causwell Company began 2021 with 10,000 units of inventory on hand. The cost of each unit was $5.00.…

A: The answer is as fallows

Q: Muscat Company has OMR 20,000 of ending finished goods inventory as of December 31, 2019. If…

A: Cost of goods sold means the cost incurred on the manufacturing or purchase of goods which has been…

Q: During 2021, a company sells 260 units of inventory for $91 each. The company has the following…

A: FIFO (FIRST IN FIRST OUT METHOD) GOODS WHICH ARE PURCHASED FIRST ARE SOLD FIRST .

Q: Scott Manufacturing makes only one product with total unit manufacturing costs of $54, of which $40…

A: a) Prepare gross profit computations for 2019 and 2020 using absortion costing:

Q: During the year ended December 31, 2020, The Zuckerberg Company purchased inventory for $500 and…

A: Cost of Goods Sold :— Cost of goods sold is the total amount your business paid as a cost directly…

Q: In 2021, Hopyard Lumber changed its inventory method from LIFO to FIFO. Inventory at the end of 2020…

A:

Q: The following are information about purchases and sales for main product of AMEER Inc. for year…

A: Weighted average cost = cost of all the units / number of units

Q: During 2021, a company sells 365 units of inventory for $93 each. The company has the following…

A: LIFO method: The LIFO strategy works under the presumption that the last item of stock acquired, is…

Q: On December 31, 2020, Cheung Shing Mars Corporation has a balance of P45,000 in its raw materials…

A: Inventory is a current asset and is reported on the balance sheet. Ending inventory refers to the…

Q: During 2020, Fresh Express Company sold 2,400 units of its product on September 20 and 2,500 units…

A: Working Notes: Operating expenses = Number of units sold×Per unit=2,400+2,500×$15=$73,500

Q: Music, Inc. had the following beginning and ending values in its three inventory accounts:…

A:

Q: Required: Prepare correct income statement data for the two years. What is the cumulative effect of…

A: Given- Ending inventory  at December 31, 2019 was overstated  $5,000 So, correct value of ending…

Q: Carp Co. manufactures cat toys. For 2022 it had the following amounts related to its most popular…

A: Formula: Cost of finished goods available for sale  = Beginning Finished goods inventory + cost of…

Q: lower-of-LIFO-cost-or-market.

A: Inventory valuation is very important for the business to calculate the correct amount of profits…

Q: Cost of goods manufactured equals $95000 for 2019. Finished goods inventory is $3000 at the…

A: Cost sheet is a method of allocating total cost into different categories such as direct material…

Q: During 2021, a company sells 25 units of inventory. The company has the following inventory purchase…

A: Formula: Cost per unit = Total cost / Number of units.

Q: The total manufacturing cost for Golden Company for the year 2020 was P5,700,000. If the Beginning…

A: Cost of goods manufactured means total costs incurred for manufacturing and production of goods. It…

Q: Sami Company had the following balances and transactions during 2020. Beginning inventory 10 units…

A: Answer:  With formula:

Q: Royal Crown Corp. has the following information to an inventory: Materials -P800,000; Storage cost…

A: Note: Delivery to customers charges will not be included in the inventory cost. These expense are…

Q: Causwell Company began 2021 with 10,000 units of inventory on hand. The cost of each unit was $5.00.…

A: LIFO  means last in first out.  Here the goods which come last are issued first. So in rising prices…

Q: The Reuschel Company began 2021 with inventory of 11,000 units at a cost of $6 per unit. During…

A: LIFO Method: Last in first out method is the an inventory valuation method where inventory which get…

Q: Bramble Corp. has $24000 of ending finished goods inventory as of December 31, 2019. If beginning…

A: Cost of goods manufactured indicates the cost incurred to produce the finished goods that are ready…

Q: The inventory of Royal Decking consisted of five products. Information about the December 31, 2021,…

A: Per Unit Cost under LCM = Lower of Cost or Market Value Under the US GAAP "market" gen­er­ally means…

Q: Swifty Corporation has $18000 of ending finished goods inventory as of December 31, 2019. If…

A: Cost of goods manufactured is the total cost incurred to produce the products and transfer them into…

Q: The records of Rami co. show the following data on June 30, 2020, During the month inventory on hand…

A: Definition: First-in-First-Out (FIFO): In the First-in-First-Out method, the first purchased items…

Q: Diaz Fresh discloses the following annual data. For Year Ended December 31 2020 2021 Sales…

A: As per the Accounting Standards the Inventories are valued at the lower of cost or market value i.e.…

Q: On December 31, 2019, the inventory of Powhattan Company amounts to $800,000. During 2020, the…

A:

Q: 2)Sheridan Company has $21000 of ending finished goods inventory as of December 31, 2013. If…

A: The below equation is used to calculate cost of goods Manufactured. Opening Stock  +Cost of Good…

Q: Heinz Company began operations on January 1, 2019, and uses the FIFO method in costing its raw…

A: Change in Inventory Valuation Method: A change in the technique of calculating inventory costs is…

Q: The raw material inventory records card for material X shows the following data: On May 2, 2020, the…

A: FIFO Method - It is method used for valuation of inventory in which the oldest products in a…

Q: In 2021, Hopyard Lumber changed its inventory method from LIFO to FIFO. Inventory at the end of 2020…

A: The cost of goods sold is the difference between total units available for sale and ending…

Q: In 2021, Hopyard Lumber changed its inventory method from LIFO to FIFO. Inventory at the end of 2020…

A: Computation of Change in Inventory Value Particular FIFO LIFO Opening Inventory $ 137,000 $…

Q: During 2021, Sheridan Company purchased $4100000 of inventory. The cost of goods sold for 2021 was…

A: Solution: beginning inventory = cost of goods sold + ending inventory - purchases =4049000 + 410000…

Q: The following are information about purchases and sales for main product of AMEER Inc. for year…

A: What is the Weighted Average Costing Method? When using the weighted average method, divide the cost…

Q: Tatum Company has four products in its inventory. Information about the December 31, 2021, inventory…

A: Rate after profit=100%-Normal profit rate=100%-20%=80%

Q: On December 28, 2020, INDIGO Company purchased goods costing 500,000. The terms were FOB…

A: Given Information :  Goods purchased = 500,000 Shipment = 10,000 Shipping = 15,000