Given the following entries of the inventories, solect the correct answer among the alternatives provided (FIFO and WAC on the 05.01.2022) PURCHASE O1.01.2022 200 units $ 50,00 cost per unit SALE 02.01.2022 300 units $ 150,00 selling price PURCHASE 03.01.2022 600 units $ 60,00 cost per unit SALE 04.01.2022 200 units $ 170,00 selling price Select one: O a. REMAINING INVENTORY: 300 units WAC FIFO 300 O b. REMAINING INVENTORY: 1300 units Average cost: £ 57,50 WAC: E 18,000 FIFO: E17,250 O C. REMAINING INVENTORY: 300 units Average cost: E 57,50 WAC: E 17,200 FIFO: E 18,000 Od. REMAINING INVENTORY: 300 units Average cost: £ 57,50 FIFO: E 18,000 WAC E17,250

Given the following entries of the inventories, solect the correct answer among the alternatives provided (FIFO and WAC on the 05.01.2022) PURCHASE O1.01.2022 200 units $ 50,00 cost per unit SALE 02.01.2022 300 units $ 150,00 selling price PURCHASE 03.01.2022 600 units $ 60,00 cost per unit SALE 04.01.2022 200 units $ 170,00 selling price Select one: O a. REMAINING INVENTORY: 300 units WAC FIFO 300 O b. REMAINING INVENTORY: 1300 units Average cost: £ 57,50 WAC: E 18,000 FIFO: E17,250 O C. REMAINING INVENTORY: 300 units Average cost: E 57,50 WAC: E 17,200 FIFO: E 18,000 Od. REMAINING INVENTORY: 300 units Average cost: £ 57,50 FIFO: E 18,000 WAC E17,250

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 2.3C

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A firm buys and sell two models, P and Q. The following unit’s cost are available (all figures are in GHc and all the cost are borne by the firm). P Q Purchase 100 200 Delivery cost from supplier 20 30 Delivery costs to customer 22 40 Packaging costs 15 18 Selling price 150 300 Required: calculate the figure to be included in closing inventory for a unit each model, according o IAS 2 Inventories.
Presented below is information related to Rembrandt Inc.’s inventory. 000(per unit)000 00Skis00 0Boots0 Parkas Historical cost $190.00 $106.00 $53.00 Selling price 212.00 145.00 73.75 Cost to sell 19.00 8.00 2.50 Cost to complete 32.00 29.00 21.25 Determine the following: (a) the net realizable value for each item, and (b) the carrying value of each item under LCNRV.
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Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion costs of beginning inventory of P9,800; current period conversion costs of P204,125. The unit conversion cost using weighted average method is: A. 0.86 B. 0.70 C. 0.82 D. none of the choices
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