Given the following:   Numberpurchased Costper unit Total January 1 inventory 40 $4 $160       April 1 60 7 420       June 1 50 8 400       November 1 55 9 495         205   $1,475           A. Calculate the cost of ending inventory using the FIFO (ending inventory shows 61 units). Cost of ending inventory is:   B. Calculate the cost of goods sold using the FIFO (ending inventory shows 61 units). Cost of goods sold is:

Q: es Given the following: January 1 inventory April 1 June 1 November 1 Number purchased 37 57 47 52…

A: Since the method "first in first out" is followed the closing inventory would include those…

Q: Unit Units Cost Total Cost June 1 Inventory 260 $6 $1,560 12 Purchase 450 3,150 23 Purchase 330 8…

A: Number of units sold = Beginning inventory + Purchases - Ending inventory…

Q: Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering…

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

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: The perpetual inventory system is one of the methods of inventory management that records real-time…

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: As per LIFO method Units sold are valued at cost of units which have been purchased recently,…

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: Given the following:     Numberpurchased Costper unit Total January 1 inventory 40 $4 $160…

A:

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

A: Ending inventory refers to value of goods readily available for sale and held by company at end of…

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: The inventory can be valued using various methods as: LIFO FIFO weighted average method

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: (a) Sales Revenue $fill in the blank 1 (b) Cost of Goods Sold fill in the blank 2 (c) Gross Margin

A: A perpetual inventory system is the inventory system where the level of inventory is updated…

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A:

Q: Computing Cost of Sales and Ending Inventory Howell Company has the following financial records for…

A: "FIFO" stands for first-in, first-out, meaning that the oldest inventory items are recorded as sold…

Q: Use the last-in, first-out (LIFO) cost allocation method, with perpetual inventory updating, to…

A: LIFO: Last-In First Out:- As per LIFO method, units purchased last are sold first. Hence, March .2…

Q: Using the average-cost method, calculate the cost of ending inventory and cost of goods sold for…

A: The inventory valuation is based on the flow of inventory. It can be LIFO, FIFO, or Weighted average…

Q: Given the following: Number Cost purchased per unit Total January 1 inventory April 1 35 $ 3 $ 105…

A: Under FIFO method i.e First in First Out method, the inventory which is purchased first will be sold…

Q: Given the following:   Numberpurchased Costper unit Total January 1 inventory 40 $4 $160…

A: Given information Date units per unit cost Amount ($) 1-Jan 40 $4 $160 1-Apr 60 $7 $420…

Q: Spotter Corporation reported the following for June in its periodic inventory records. Description…

A: The periodic inventory records for the month of June is given. Required  1. Calculate the Cost of…

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: Beginning inventory, purchases, and sales for WCS12 are as follows: Oct. 1   Inventory 330 units at…

A: Weighted Average Perpetual Date Goods Purchased Cost of goods sold Ending Inventory   Units Cost…

Q: Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering…

A: Perpetual Inventory System This system provides running balance of Cost of Goods available for Sale…

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: # of Units Unit Cost Total Cost Jan 1 Beginning Inventory 09 009$ 066$ $1,300 Jan 12 Purchase $11 06…

A: Inventory valuation is based on the flow of exemption used by the company. There are many methods…

Q: Strand Retail Corp had the following info: Beg Inventory 2,500 units @ $40/each Purchased 4,000…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

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

A: Under the weighted-average (AVG) cost allocation method, a weighted-average cost per unit is…

Q: Given the following: Number purchased Cost per unit Total January 1 inventory 39 $…

A:

Q: Given the following:     Number purchased Cost per unit Total January 1 inventory 41 $ 5   $ 205…

A: Number of units sold = Units purchased - Ending inventory units = 209 - 62 = 147

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: Introduction: LIFO: LIFO stands for Last in First out. Which means last received inventory to be…

Q: Given the following:   Number purchased Cost per unit Total January 1 inventory   30     $ 5     $…

A: LIFO: LIFO stands for Last-In, First-Out. In this method inventory purchased at last will be sold…

Q: ven the following Cost per unit $ 4 Number purchased 46 Total January 1 inventory April 1 Dune 1…

A: Weighted-Average Cost is a method of Inventory Valuation where average cost of each unit is…

Q: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,…

A: LIFO (Last-In, First-Out) is one of the inventory method where the latest inventory would be…

Q: Given the following: January 1 inventory April 1 June 1 November 1 Cost of ending inventory Number…

A: Solution: Last-in-First-out (LIFO) method of inventory valuation assumes that the amount of goods…

Q: Use the last-in, first-out (LIFO) cost allocation method, with perpetual inventory updating, to…

A: Perpetual inventory system: Under this inventory system, the records of inventory are continuously…

Q: Given the following: Number Cost per unit $ 4 purchased Total January 1 inventory April 1 40 2$ 160…

A: Ending inventory is computed by adding the beginning inventory and purchases and then subtracting…

Q: Use the last-in, first-out (LIFO) cost allocation method, with perpetual inventory updating, to…

A:

Q: Given the following: January 1 inventory April 1 June 1 November 1 Number purchased 34 54 44 Cost of…

A: The cost of goods sold refers to the direct costs of making products sold by a company (COGS). This…

Q: Use the first-in, first-out (FIFO) cost allocation method, with perpetual inventory updating, to…

A: First in first out method considers the assumption that goods purchased first are sold first by the…

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: Use the first-in, first-out (FIFO) cost allocation method, with perpetual inventory updating, to…

A: Total value of beginning inventory=120×$46=$5,520

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

A: c. Inventory on October 31 = Inventory * Weighted average unit cost

Q: Given the following: Number purchased Cost per unit Total January 1 inventory 39…

A: Average Rate = Value of goods available for sale / No. units available for sale   1. April 1 =…

Q: Niles Co. has the following data related to an item of inventory: Inventory, March 1 400 units @…

A: Under FIFO method, goods purchased first should be sold first. Therefore, COGS under the FIFO method…

Q: 3 150 10/20 Purchase        250 5 1,250 Available for sale 700 units   $2,800   Sales for the year…

A: FIFO, LIFO and weighted average are 3 different methods of Inventory valuations. Business can adopt…

Q: Company "A" started the period with 85 units in beginning inventory that cost $2.60 each. During the…

A:

Q: Given the following: Number Cost purchased Total per unit $ 3 $ 105 January 1 inventory April 1 June…

A: Under FIFO method, it is assumed that first units comes in are the first unit goes out. So the…

Q: Given the following: Number Cost per unit $4 purchased Total $ 160 January 1 inventory April 1 40 60…

A: LIFO: LIFO stands for Last-In, First-Out. As its name suggest, this method assumes that the most…

Q: Given the following:     Number purchased Cost per unit Total January 1 inventory   32     $ 4…

A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method.  Using…

Q: 3. Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11,…

A: Inventory valuation is the calculation of the total value of the inventory hold by the business or…

Q: HOW DO I CALCULATE THE COST OF THE ENDING INVENTORY AND THE COST OF GOODS SOLD? Date   Explanation…

A: Under FIFO method , goods purchased first are sold first . Under LIFO Method , goods purchased in…

Q: Spotter Corporation reported the following for June in its periodic inventory records. Date…

A: FIFO is the method to record the sale of goods received at last. LIFO is the method to record the…