Inventory records for Dunbar Incorporated revealed the following:   Date Transaction Number of Units Unit Cost Apr. 1 Beginning inventory   580   $ 2.49   Apr. 20 Purchase   400     2.61     Dunbar sold 560 units of inventory during the month. Ending inventory assuming weighted-average cost would be: (Round weighted-average unit cost to 4 decimal places and final answer to the nearest dollar amount.)   Multiple Choice   $1,034.   $1,156.   $1,071.   $1,066.

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

A: A periodic inventory system is a form of accounting stock valuation practice. In this system, the…

Q: Inventory records for Marvin Company revealed the following: Number Unit Date Transaction of Units…

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

Q: Inventory records for Marvin Company revealed the following:  Date Transaction Numberof Units…

A:

Q: Akira Company had the following transactions for the month.   Number of Units Cost per Unit…

A: Particulars No. of Units Cost per unit Total Value Beginning Inventory 160 $10 $1600…

Q: Ending inventory assuming weighted-average cost

A: Weighted average cost per unit = Sum of weighted cost of beginning inventory and purchases/Sum of…

Q: Trini Company had the following transactions for the month. Number Cost of Units per Unit Total…

A: First in First out (FIFO) is one of the inventory valuation methods in which the earliest inventory…

Q: 36. Inventory records for DD Incorporated revealed the following: Number Unit Date Transaction of…

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

Q: Inventory records for Dunbar Incorporated revealed the following:   Date Transaction Number of…

A: Ending inventory = Total units available for sale - No. of units sold = (470+420)-590 = 300 units

Q: A company reports the following beginning inventory and two purchases for the month of January. On…

A: Perpetual Inventory System: There is a  continual track of  inventory balances under perpetual…

Q: A company uses the periodic inventory system and had the following activity during the current…

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

Q: Bridgeport Corp. uses a periodic inventory system. Its records show the following for the month of…

A: Determine weighted-average cost per unit.

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: On 1st May, the Opening Inventory balance of a product is 200 units @ 10 per unit. Using the…

A: Inventory means the stock of goods in hand . Goods means the thing in which the business deals and…

Q: Inventory records for Dunbar Incorporated revealed the following: Number Unit Date Transaction of…

A: Ending inventory units=Beginning Inventory+Purchase-Sales

Q: Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units…

A: Introduction: In accounting, the Weighted Average Cost (WAC) method estimates the amount that goes…

Q: Trini Company had the following transactions for the month.   Number of Units Cost per Unit Total…

A: In the case of the FIFO method, the inventory which is purchased first is also sold first. Whereas…

Q: Ivanhoe Company had a beginning inventory of 108 units of Product RST at a cost of $8 per unit.…

A: Solution: Computation of COGS and ending inventory - Periodic FIFO Particulars Cost of goods…

Q: Akira Company had the following transactions for the month. Number Total of Units Cost Beginning…

A: The different methods for valuation of inventory are: 1. LIFO 2. FIFO 3. Weighted Average method

Q: A company reports the following beginning inventory and two purchases for the month of January. On…

A: Weighted Average Method - Under this method of inventory valuation company takes average of the cost…

Q: A company reports the following beginning inventory and two purchases for the month of January. On…

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

Q: Inventory records for Dunbar Incorporated revealed the following: Number Unit Date Transaction of…

A: AS THE COMPANY IS FOLLOWING LIFO (LAST IN FIRST OUT) RULE : THE COMPANY WILL FIRST SELL GOODS FROM…

Q: Akira Company had the following transactions for the month. Number Cost of Units per Unit Beginning…

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

Q: The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory…

A: Calculate Units sold:  Units Sold=Total units avaialble-Inventory at November 30=97-13=84

Q: question

A: Inventory valuation can be done under different methods like FIFO,LIFO, Weighted Average.To…

Q: On November 1, Lacy Company began business with the purchase of 250 units of inventory for $21,625.…

A: In This Numerical the 1st two parts are covered the concept of Inventory valuation Under FIFO…

Q: Akira Company had the following transactions for the month.   Number of Units Cost per Unit…

A: First-in, First Out (FIFO) Under the First in first out (FIFO) method of inventory valuation, Cost…

Q: Pronghorn Company uses the periodic inventory method and had the following inventory information…

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

Q: Inventory records for Dunbar Incorporated revealed the following: Number of Units 430 420 Unit Cost…

A: LIFO is also known as Last in first out method. It is the method in which goods received recently…

Q: Trini Company had the folowing transactions for the month. Number Cost of Units per Unit Totat…

A: First in First out (FIFO) is one of the inventory valuation methods in which the earliest inventory…

Q: Akira Company had the following transactions for the month. Number Cost of Units per Unit Beginning…

A: The inventory is valued using various methods as LIFO, FIFO and weighted average method.

Q: Akira Company had the following transactions for the month.   Number of Units Cost per Unit…

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

Q: Morgenstern Ltd. has the following units and costs for the month of April. 1. Beginning inventory,…

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

Q: Akira Company had the following transactions for the month. Number Total of Units Cost Beginning…

A: Sales = (total goods available for sale - Ending inventory ) x selling price =(480 - 60) x $26 =420…

Q: Beginning inventory consist of 800 units at P200 each. Purchases made for the period: January 18 for…

A: In FIFO method, the inventory that comes first is sold first. FIFO stands for 'First in first out'.

Q: Lower-of-Cost-or-Market Stalberg Company's beginning inventory and purchases during the fiscal year…

A: Calculation of total amount to be assigned to the ending inventory under: a.) FIFO As per FIFO…

Q: Trini Company had the following transactions for the month. Number Cost of Units per Unit Total…

A: FIFO is the inventory valuation method in which inventory purchased first will be sold first. LIFO…

Q: Inventory records for Dunbar Incorporated revealed the following: Date Transaction Apr. 1 Apr. 20…

A: Introduction: WACC is a key input in discounted cash flow assessment and is frequently discussed in…

Q: Akira Company had the following transactions for the month. Number Total of Units Cost Beginning…

A: In a Periodic inventory system, the cost of goods sold and the cost of ending inventory is computed…

Q: how much is the ending inventory using the weighted average method?

A: In the given case; Beginning units = 6000 units Add: Purchases  = 4000 units Less: Sales          =…

Q: Inventory recocs for Dunbar Incorporated revealed the following Number Unit Transaction Apr. 1…

A: Given that: Units sold = 590 units Ending inventory = Opening inventory + Purchase - Units sold =…

Q: A company reports the following beginning inventory and two purchases for the month of January. On…

A: Weighted Average cost method is a method of pricing of inventory. Under average cost method the…

Q: Stalberg Company's beginning inventory and purchases during the fiscal year ended December 31, 20--,…

A: Given: Inventory in hand =10 units Under the FIFO method, those units are sold first which are…

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: Akira Company had the following transactions for the month. Number Total of Units Cost Beginning…

A: 1. FIFO Method   DATE PARTICULAR Rate PURCHASE SELL BALANCE               Opening Stock…

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

A: Total units available for sale = 10 + 25 + 30 + 15 Total units available for sale = 80 units   Total…

Q: Inventory records for Dunbar Incorporated revealed the following:   Date Transaction Number of…

A: As per the LIFO method, units that are purchased recently, are issued first. So it means ending…

Q: Bleistine Company had the following transactions for the month. Beginning inventory Purchased Jun. 1…

A: FIFO stands for first in first out , which means inventory which was purchased firsts are sold…

Q: Koi Corporation uses the periodic inventory system. During its first year of operations, Koi made…

A: Inventory valuation methods are those methods which are used for valuation of inventory in the…

Q: Inventory records for Dunbar Incorporated revealed the following: Date Transaction Apr. 1 Beginning…

A: Given that, Beginning inventory = 450 units @ $2.48 per unit Purchase = 350 units @ 2.76 per unit…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.