FINISH THE FOLLOWING BLANK AREAS Units cost per unit Sales price per unit Beginning inventory 70 $ 60.00 purchase 3/27 185 $ 68.00 purchase 4/23 240 $ 78.00 total sales 377 141 Operating expenses under each method 17,000 income tax expense under each method 21% of income before taxes FIFO units $$ LIFO units $$ weighted Average units $$ Beginning inventory 70 $ 4,200.00 Beginning inventory 70 $ 4,200.00 Beginning inventory 70 $ 4,200.00 purchases 425 purchases 425 purchases 425 available 495 available 495 available 495 ending inventory ending inventory ending inventory CGS 377 CGS 377 CGS 377 Available in $$ Available in units unit price
FINISH THE FOLLOWING BLANK AREAS Units cost per unit Sales price per unit Beginning inventory 70 $ 60.00 purchase 3/27 185 $ 68.00 purchase 4/23 240 $ 78.00 total sales 377 141 Operating expenses under each method 17,000 income tax expense under each method 21% of income before taxes FIFO units $$ LIFO units $$ weighted Average units $$ Beginning inventory 70 $ 4,200.00 Beginning inventory 70 $ 4,200.00 Beginning inventory 70 $ 4,200.00 purchases 425 purchases 425 purchases 425 available 495 available 495 available 495 ending inventory ending inventory ending inventory CGS 377 CGS 377 CGS 377 Available in $$ Available in units unit price
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 8P: Comprehensive The following information for 2019 is available for Marino Company: 1. The beginning...
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Question
| FINISH THE FOLLOWING BLANK AREAS | ||||||||||
| Units | cost per unit | Sales price per unit | ||||||||
| Beginning inventory | 70 | $ 60.00 | ||||||||
| purchase 3/27 | 185 | $ 68.00 | ||||||||
| purchase 4/23 | 240 | $ 78.00 | ||||||||
| total sales | 377 | 141 | ||||||||
| Operating expenses under each method | 17,000 | |||||||||
| income tax expense under each method | 21% of income before taxes | |||||||||
| FIFO | units | $$ | LIFO | units | $$ | weighted Average | units | $$ | ||
| Beginning inventory | 70 | $ 4,200.00 | Beginning inventory | 70 | $ 4,200.00 | Beginning inventory | 70 | $ 4,200.00 | ||
| purchases | 425 | purchases | 425 | purchases | 425 | |||||
| available | 495 | available | 495 | available | 495 | |||||
| ending inventory | ending inventory | ending inventory | ||||||||
| CGS | 377 | CGS | 377 | CGS | 377 | |||||
| Available in $$ | ||||||||||
| Available in units | ||||||||||
|
unit price
|
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