Given the following:     Number purchased Cost per unit Total January 1 inventory   32     $ 4     $ 128   April 1   52       6       312   June 1   42       7       294   November 1   47       8       376       173             $ 1,110       a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 53 units).       b. Calculate the cost of goods sold using the FIFO (ending inventory shows 53 units).

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: Units Unit cost Total Cost June  1 Inventory 250 $7 $1,750           12…

A: Inventory valuation is a method which shows cost of goods sold and cost of ending inventory which…

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: Cost of goods purchased Cost of goods sold Cost of InventoryRemaining   Units Unit cost…

Q: H. end Calculate the cost of goods sold dollar value for A65 Company for the month, considering the…

A: FIFO Method: Under the FIFO method, there is an assumption that the first goods purchased are also…

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

A: AVERAGE PERPETUAL INVENTORY   Purchase Cost of goods sold Balance Inventory Quantity…

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

A:

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

A: Finished goods inventory: These inventories are completely ready for sale after the completion of…

Q: Snyder’s cost of goods sold using the average-cost method would be:a. $1,725.b. $6,500.c. $7,475.d.…

A: Average cost method is a method of pricing issue of material. Under average cost method it is…

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: 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: # 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: nventory information for Part 311 of Whispering Corp. discloses the following information for the…

A: Introduction: LIFO: LIFO stands for Last In First Out which means last received inventory to be sold…

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

A:

Q: Use the following schedule to answer the questions below. Units Cost per unit Beginning inventory 10…

A: Under LIFO method the units sold will be first from the latest purchases and ending inventory should…

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: Using the specific identification method:   Date Units purchased Cost per unit Ending inventory…

A: Ending inventory refers to amount of inventory ,company has stored in the warehouse at the end of…

Q: Pronghorn Corp reports the following for the month of June. Date Explanation Units Unit Cost Total…

A: Date Explanation Units Unit cost Total cost 1-Jun Inventory 117 $5 $585 12-Jun Purchases 336 $6…

Q: 8. Celine Company provided the following data relating to an inventory item. Unit cost Total cost…

A: Perpetual inventory system is system of checking the inventory constantly throughout the year like…

Q: Extreme Company showed the following information! Units Unit cost Total cost 40 400,000 1 Beginning…

A: As per weighted average method, the value of ending inventory is determined by deducting the cost of…

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: 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: Spotter Corporation reported the following for June In Its perlodic Inventory records. Date…

A: Date Description Units Unit cost Total cost June 1 Beginning 12 $8 $96 11 Purchase 38 9 342 24…

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

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: Inventory valuation of a firm can be done using different methods like FIFO, LIFO, weighted average…

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: 8. Celine Company provided the following data relating to an inventory item. Total cost 1,000,000…

A: Under Moving Average inventory valuation method, the average cost of each inventory item in stock is…

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: Consider the following information:     Units Cost per unit Total costs Goods in inventory at…

A: Under Weighted average cost method, value of ending inventory and cost of goods sold is calculated…

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: 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: 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: 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…