From the following, calculate the cost of ending inventory and cost of goods sold for the weighted-average method, ending inventory is 49 units. (Round your intermediate calculations and final answers to the nearest cent.) Beginning inventoryand purchases Units Unit cost January 1 5 $2.00       April 10 10 2.50       May 15 12 3.00       July 22 15 3.25       August 19 18 4.00       September 30 20 4.20       November 10 32 4.40       December 15 16 4.80           Cost of ending inventory is? Cost of goods sold?

Q: The following data are available for Sellco for the fiscal year ended on January 31, 2020: Sales…

A: Ending units=Beginning units+Purchases -Units sold=260+340+440+190-800=430 units

Q: Required: Complete the table below to estimate the average cost of ending inventory and cost of…

A: The inventory can be valued using various approaches as Periodic or perpetual inventory systems.

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the…

A: Using weighted method, the units cost is calculated as total cost of goods available for sale…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO…

A: LIFO Method - Under FIFO Method of Inventory valuation inventory purchased latest will be sold first…

Q: On the basis of the following data, what is the estimated cost of the inventory on May 31 using the…

A: Cost to retail ratio=Cost priceRetail price×100

Q: Using the data below, determine the ending inventory amount assuming the weighted average method…

A: The periodic inventory system is an inventory valuation system that computes ending inventory at the…

Q: On 1st October, the Opening Inventory balance of a product is 150 units @ 15 per unit. Using the…

A: LIFO is last in first out method of inventory in which inventories which are purchased at last will…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO…

A: "LIFO" stands for last-in, first-out, meaning that the recently purchased inventory items are…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the…

A: Inventory is one of the important current asset of the business. It can be valued by many methods…

Q: The units of an item available for sale during the year were as follows: Jan. 1   Inventory 11…

A: LIFO means last in first out where as FIFO means first in first out. Inventory and cost of goods…

Q: The Lippert Company uses the periodic inventory system. The following July data are for an item in…

A: Total units available for sale = 30 + 50 + 25 = 105 units Units sold = 60 units Ending inventory =…

Q: The units of an item available for sale during the year were as follows:   March 1 Inventory 10…

A: Definition: Periodic Inventory System: A periodic inventory system is a system in which the…

Q: ok int Given the following: erences January 1 inventory April 1 June 1 November 1 Cost of ending…

A: Inventory Units Cost per unit Amount Beginning Inventory 36 5 180 Apr 01 Purchases 56 8 448…

Q: Calculate the cost of goods sold dollar value for A67 Company for the month, considering the…

A: Compute the weighted average cost per unit as follows: Cost per unit=Beginning…

Q: You have the following information for Waterway Industries for the month ended October 31, 2022.…

A: "LIFO" stands for last-in, first-out, meaning that the recently purchased inventory items are…

Q: You have the following information for Bramble Inc for the month ended October 31, 2022. Bramble…

A: The inventory valuation method used to evaluate the closing inventory and cost of goods sold on the…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO…

A: LIFO is last in first out method for inventory valuation, which says that inventory purchased at…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the FIFO…

A: Introduction: FIFO: FIFO stands for First in First out which means first received inventory to be…

Q: Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to…

A: Formula: Gross margin = sales - cost of goods sold. Deduction of cost of goods sold from sales value…

Q: Calculate the cost of goods sold dollar value for A66 Company for the month, considering the…

A: Inventory valuation is a process in accounting that businesses use to determine the value of unsold…

Q: Calculate the cost of goods sold dollar value for A67 Company for the month, considering the…

A: Average cost per unit = Total cost of goods available for sale  / Total no. of units available for…

Q: The units of an item available for sale during the year were as follows: Jan. 1 Inventory 22 units…

A: SOLUTION- THE INVENTORY CAN BE VALUED USING VARIOUS METHODS AS FIFO,LIFO AND WEIGHTED AVERAGE .

Q: Calculate ending inventory and cost of goods sold using the last in, first out (LIFO); moving; and…

A: Inventory is the value of goods or products held by a company for the motive of resale to customers…

Q: E4A. In chronological order, the inventory, purchases, and sales of a single product for a recent…

A: Date Particulars Units Amount Value {Units * Amount}       $ $ 1-Jun Beginning inventory 150 30…

Q: On 1st October, the Opening Inventory balance of a product is 150 units @ 15 per unit. Using the…

A: This question deals with the calculation of closing inventory and cost of goods sold under LIFO…

Q: Number of Units Cost per Unit $10 Beginning inventory Purchased Mar. 31 Purchased Oct. 15 Ending…

A: First in First out (FIFO) Methods says that goods purchased first are Sold first which implies that…

Q: The Luann Company uses the periodic inventory system. The following July data are for an item in…

A: Step 1: Compute the ending inventory (in units) as follows:

Q: .Using the periodic inventory system, compute the cost of ending inventory, cost of goods sold, and…

A: Solution: A Perpetual Inventory system is a system which is automatically recorded and updated the…

Q: The Lippert Company uses the periodic inventory system. The following July data are for an item in…

A: Working: FIFO   Purchases+Beginning Inv. Cost of Goods Sold Balance in Inventory Date Units…

Q: the following information for Coronado Industries for the month ended October 31, 2022. Coronado…

A: Periodic inventory system: It is inventory system which involves the physical counts of goods at a…

Q: The units of an item available for sale during the year were as follows: Jan. 1 Inventory 1,095…

A: Workings: Total units: 1095+1385+1680+1125                 = 5285 units.

Q: Calculate the cost of goods sold dollar value for B65 Company for the month, considering the…

A:

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the FIFO…

A: FIFO (First-In-First-Out) is a way of inventory valuation wherein the goods which are purchased…

Q: Sales during the year were 1,220 units. Beginning inventory was 380 units at a cost of $6 per unit.…

A: FIFO method uses the inventory which is bought first for the production, but whereas the LIFO method…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the LIFO…

A: Under the LIFO method, goods purchased at last are sold first and the initial purchases constitute…

Q: A company reports the following beginning inventoryand purchases, and it ends the period with 30…

A: FIFO method means First in First Out. It means inventory which is purchased first will be sold…

Q: n chronological order, the inventory, purchases, and sales of a single product for a recent month…

A: Solution: Introduction: A Perpetual Inventory system is a system which is automatically recorded and…

Q: The following are the transactions for the month of July.       Units Unit Cost Unit Selling…

A: The Store ledger has been made based on FIFO periodic methos as above.

Q: Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1 Inventory 350 units at…

A: Solving through weighted average. Date Purchases     Sales     Ending Inventory       Quantity…

Q: The following units of an inventory item were available for sale during the year: Beginning…

A: Periodic Inventory System: The periodic inventory system, records inventory balance on hand…

Q: Use the following information to calculate the a) value of inventory on hand on Mar 31, b) cost of…

A: Inventory valuation is used to determine the value of the total inventory hold by the business at…

Q: The inventory records for Radford Company reflected the following Beginning inventory on May 1 First…

A: Under LIFO purchases made at last are sold first.    In this question, 3900 units are sold. So first…

Q: From the following, calculate the cost of ending inventory and cost of goods sold for the…

A: Inventory is the current asset posted in the balance sheet of the company.

Q: Determine the ending inventory using the periodic inventory system and the weighted average cost…

A: The inventory valuation method used to evaluate the closing inventory and cost of goods sold on the…

Q: Calculate the cost of goods sold dollar value for A67 Company for the month, considering the…

A: Weighted average cost of inventory is an inventory valuation method in which cost of goods sold and…

Q: The cost of the ending inventory is:

A: Ending inventory cost is $1,210

Q: The following data are available for Sellco for the fiscal year ended on January 31, 2020: Sales 800…

A: Inventory valuation is based on the flow of inventory used by the organization. There are several…

Q: The Lippert Company uses the periodic inventory system. The following July data are for an item in…

A: In the periodic inventory system, the cost of goods sold and the inventory on hand is calculated at…