If beginning inventory is $200 and purchases are $800,which of the following could be true?a. Ending inventory is $400 and Cost of Goods Sold is$600.b. Ending inventory is $800 and Cost of Goods Sold is$800.c. Ending inventory is $200 and Cost of Goods Sold is$200.d. Ending inventory is $200 and Cost of Goods Sold is$600.

Q: Using the lower of cost or market, what should the total inventory value be for the following items:…

A: Item A cost=Quantity×Cost per unit=186×$6=$1,116

Q: Presented below are the components in determining cost of goods sold. Cost of Beginning Inventory…

A: The question is based on the concept of Cost accounting

Q: If ending inventory is understaffed for year 1, then in year 2…. A. Costa of goods sold and gross…

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Q: If the cost of an item of inventory is $52.00 and the current replacement cost is $70.00, what is…

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Q: 1- Hani has an inventory at 1/1/2020 of €60,000 and purchases during 2020 of €280,000, both at cost…

A: Opeining inventory + purchase = Cost of Sales + Closing inventory

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: 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: Presented below are the components in determining cost of goods sold. Determine the missing amounts.…

A: Formula: Cost of goods available for sale = Beginning Inventory + Purchases

Q: For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. FIFO The sum…

A: FIFO (First in first out) It is the method where we assume that the goods which are purchased…

Q: If ending inventory is understated by $25,000, what effect will this have on cost of goods sold and…

A: Formula: Cost of goods sold = Beginning inventory + Purchases - Ending Inventory.

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: Below are the components in determining cost of goods sold. Determine the missing amounts.…

A: Cost of Goods Available for Sale = Beginning Inventory + Purchases  Cost of Goods Sold = Cost of…

Q: Total goods available for sale is equal to  a. the sum of ending inventory and net purchases. b.…

A: Beginning inventory + Net purchases = Cost of goods sold + Ending inventory Total cost of goods…

Q: Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost…

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: Beginning inventory is P10, net purchases are P140 and net sales are P120. If the gross profit rate…

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Q: Assume that Whispering Winds Company has cost of goods purchased of $478,300, beginning inventory of…

A: Gross profit = Net sales - Cost of goods sold where, Cost of goods sold = beginning inventory + cost…

Q: Below is a series of cost of goods sold sections for companies B, M, O, and S. Fill in the lettered…

A: Answer)   (A)Calculation of Net purchases Net purchases = Purchases – Purchase returns and…

Q: Paul Company uses its periodic inventory system and you are given the following information:…

A: Calculate cost of goods sold:

Q: Ivanhoe uses the conventional retail method to determine its ending inventory at cost. Assume the…

A: Cost-to-Retail percentage = Goods available for sale at cost / Goods available for sale at Retail =…

Q: Applying the lower of cost or market to each item of inventory, what should the total inventory…

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

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Q: If beginning inventory is $40,000, purchases are $215,000, and ending inventory is $35,000, what is…

A: Cost of goods sold (COGS) refers to the direct costs of producing the goods sold by a company. This…

Q: Explain the step by step instructions given the following data for the questions below.…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

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: 1. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using…

A:

Q: A business using the retail method of inventory costing determines that inventory at retail is…

A: It is a method to determine the cost of ending inventory balance via the cost to rate ratio It is…

Q: . Compute the cost of the ending inventory under the FIFO method. Round the cost-to-retail ratio to…

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Q: On balance day, a physical inventory count and cost was $10,250, and the market value of inventory…

A: Note: As per relevant Standard, inventory is valued at lower of cost or Net relizable value. where,…

Q: Beginning inventory, purchases, and sales for Item 88-HX are as follows: Mar. 1 Inventory 96 units @…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Of the 1600 items sold, 300 were sold from the beginning inventory, 500 were sold after the first…

A: Cost of goods sold refers to the carrying value of sold goods during a particular time. It processes…

Q: The cost of goods for sale of Ram Products Inc. was P7, 645,000 and the ending inventory amounts to…

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Q: If a company purchased an inventory item for $1,200 and can sell it for $2,000 and can replace the…

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

A:

Q: beginning inventory is $1,998, ending inventory is $1,407 and cost of goods sold is $11,158, how…

A: Cost of goods sold (COGS) The cost of goods sold (COGS) is any direct cost related to the production…

Q: Cost of goods sold is $108,000 ,ending inventory is $12,000 and purchases is $100,010. What is…

A: Cost of goods sold = Beginning inventory + Purchases - Ending inventory

Q: a. Determine the inventory cost by the first-in, first-out method. Round your answer to the nearest…

A: The first in first out method is means when a company issue the inventory which is purchased first.…

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

A: FIFO: FIFO stands for First-In, First-Out.  In this method inventory purchased first will be sell…

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: 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: Presented below are the components in determining cost of goods sold. Determine the missing…

A: Cost of goods sold = Beginning inventory + Purchases - Ending inventory

Q: Given the following, calculate the estimated cost of ending inventory using the gross profit method.…

A:

Q: (a), Your answer is partially correct. Try again. Compute the cost of the ending inventory and the…

A: FIFO method: The cost of ending inventory = $9,000 Cost of goods sold = Opening stock + Purchases -…

Q: The club had beginning inventory of $8000 and purchases of $1200. The company had cost of goods sold…

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Q: E (Click the icon to view the data.) ... The cost of ending inventory is The cost of goods sold is…

A: Using LIFO method, the new inventory is sold first and older inventory is left into the stock.

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…